Fishback v. Bothell Bus Co.

The Automobile Insurance Exchange of Seattle was organized in 1919 as an inter-insurance association under the insurance code of 1911, particularly the fifth paragraph of § 86, ch. 49, Laws of 1911, p. 226 which was re-enacted in Laws of 1915, p. 309, § 1, ch. 108, being Eem. Comp. Stat., § 7131. Thereafter it operated successfully until January 1, 1923, after which date its liabilities and losses increasingly exceeded its income until December 29, 1926, when, in an action instituted by tbe Attorney General, in tbe name of the insurance commissioner of the state, the superior court ordered…