Attorney-General v. North American Life Insurance
New York Court of Appeals
Appeals by Henry It. Pierson and by certain policy-holders from an order of the General Term of the Supreme Court, in the third judicial' department, made at the February term, 18S2, which affirmed, save so far as relates to the item of interest, an order of Special Term passing the accounts of said Pierson, as' receiver of the North American Life Insurance Oompany.
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Appeals by Henry It. Pierson and by certain policy-holders from an order of the General Term of the Supreme Court, in the third judicial' department, made at the February term, 18S2, which affirmed, save so far as relates to the item of interest, an order of Special Term passing the accounts of said Pierson, as' receiver of the North American Life Insurance Oompany. (Reported below, 26 Hun, 294.) Said Pierson was appointed receiver March 8, 1877, in proceedings under the act chapter 902, Laws of 1869 ; he presented his accounts up to January 1, 1881, and applied to the court to pass the same.…
1Opinion of the CourtFinch, J.
Sufficient reasons have been assigned for directing a reconsideration by the insurance deparment of its order fixing tho compensation of the receiver in this action at five per cent, upon the amount of assets of the company which should come into his possession. ■ That order was premature. It was made before the services of the receiver had even approached completion; before commissions were earned or payable; when it was not certain that the officer would complete his duties; when the amount of care and labor required could only be estimated and could not be known ; and when any just ground…
2Cases cited3 opinions
- People v. Security Life Insurance & Annuity Co.New York Court of Appeals · 1879
- Utica Insurance v. LynchNew York Court of Chancery · 1845
- Attorney-General v. North American Life InsuranceNew York Court of Appeals · 1880
3Cited by9 opinions
- State Central Savings Bank v. Fanning Ball-Bearing Chain Co.Supreme Court of Iowa · 1902
- Riordan v. HortonWyoming Supreme Court · 1908
- Bassett v. Merchants Trust Co.Supreme Court of Connecticut · 1932
- Weeks v. CornwallNew York Supreme Court · 1887
- MacDonald v. Aetna Indemnity Co.Supreme Court of Connecticut · 1918
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