Clark v. Preferred Accident Insurance

Taylor, Justice.

The question before the Court in instant case involves the right of a foreign Statutory Liquidator to withdraw from an insolvency proceeding certain funds of an insolvent insurance company, said funds having been deposited by the insolvent company as a prerequisite to doing business in this State, and now being administered in South Carolina by a South Carolina Receiver.

On July 7, 1952, respondent, Joseph W. Clark,- Sr., brought an action against The Preferred Accident Insurance Company of New York, a foreign insurance company domesticated in South Carolina, in the Court of…