State Mutual Life Insurance v. Walton

Three persons, alleging themselves to be policyholders and creditors under contracts issued by a mutual life insurance company organized under the laws of this State, instituted an equitable action, for themselves and all others similarly situated, against the company to en*766join it from further transaction of business, appoint a receiver, and marshal the assets of the company. When the petition was presented to the judge an order was passed ex parte appointing a temporary receiver, and a rule issued directing the defendant to show cause at a certain time and place why the prayers of the…