Polansky v. Orlove

On September 16, 1965, the presiding judge of the Circuit Court of Baltimore City signed an order placing the Olympic Insurance Company of America (Olympic), a mutual company, in statutory rehabilitation pursuant to Code (1964 Repl. Vol.), Article 48A, Section 132, et seq. Francis B. Burch, then State Insurance Commissioner, was appointed rehabilitator of Olym pic. In accordance with his report upon the poor financial condition of Olympic, on June 15, 1966, the Circuit Court passed an order directing that all members and policyholders of Olympic who had policies in effect during a specified…