Lindsay v. MAIN INSURANCE COMPANY

Cureton, Judge:

This is a delinquency proceeding instituted by the Chief Insurance Commissioner of South Carolina against Main Insurance Company, a foreign corporation, pursuant to S. C. Code Ann. Section 38-5-1690 (1976). Upon application of the Commissioner, Main was ordered to show cause why a conservator of its assets within the State should not be appointed. Following a hearing, the trial court appointed the Commissioner conservator of Main’s assets and Main appeals. We affirm.

The material facts are not disputed. Main Insurance Company, domiciled in Illinois, became the sole owner of…