People Ex Rel. Palmer v. Peoria Life Insurance

On November 15, 1933, the People, through the Attorney General, filed a petition in the circuit court of Peoria county upon relation of Ernest Palmer, as Director of Insurance, asking that the Peoria Life Insurance Company be required to show cause why a receiver should not be appointed for that company and why an order should not be entered dissolving the corporation. By resolution of its directors the company consented to the entry of the orders prayed and a decree was entered accordingly. Pursuant to the Insurance Liquidation act of 1925 as amended in 1929 (Laws of 1925, p. 446; Laws of…