Schaick v. Jarcho Bros.

This is an action by the Superintendent of Insurance, as conservator of the property of the International Reinsurance Corporation, Dover, Del., to recover premiums alleged to be due on five insurance policies. The Superintendent was appointed by the Supreme Court on April 21, 1933, in accordance with the provisions of sections 405 and 406 of the Insurance Law (Laws of 1932, chap. 191, § 1).

Section 406 provides: “An order to conserve the assets of a foreign insurer shall direct the superintendent * * * forth-

with to take possession of the property of such insurer and to conserve the same,…