State v. Surety Corp. of America

The Chancellor :

Claim of State of Delaware.

The order appointing the receiver conferred no power on him to operate the business. The Insurance Commissioner, prior to the filing of the bill, had refused to renew the defendant’s certificate of authority to do business. The court is authorized by Section 573 of the Code “in a proper case made * * * to appoint a receiver to take charge of, settle and close up the affairs of said Company under the direction of the said Court, to enjoin it from doing business, and to make such order and decree as may be necessary or proper.”

It is not contended that…