Wiltsie v. Standard Accident Insurance

Standard Accident Insurance Company, a Michigan insurance company, merged with Reliance Insurance Company, a Pennsylvania corporation duly authorized and qualified to do business in Michigan, which merger became effective midnight December 31, 1963. The merger was effected pursuant to the provisions of the Michigan insurance code of 1956. PA 1956, No 218 (CLS 1961, § 500.7604 et seq., [Stat Ann 1963 Cum Supp § 24.-17604 et seq.~\).

Plaintiff Mary Wiltsie, a stockholder of Standard Accident Insurance Company, voted against the merger. Claiming appraisal rights as a dissenting stockholder under…