Ama-Gray Oil Co. v. Marshall

S'PEER, Justice.

This is an action by plaintiff, Herbert Marshall, receiver and trustee of Nation al Indemnity Underwriters of America (to which we shall refer as NIU), against defendant, Ama-Gray Oil Company, a dissolved corporation, of which Demaris Holt was president at the time of its dissolution.

NIU was a reciprocal insurance association, created under and by virtue of Chapter 20, Title 78, Revised Civil Statutes 1925, Vernon’s Ann.Civ.St. art. 5024 et seq. By an action brought by the State of Texas in the 98th District Court of Travis County, NIU was adjudicated insolvent from September…