Shepherd v. Virginia State Insurance

The question in this case is -whether a domestic insurance company, holding a contract of reinsurance on risks outside of this State with a foreign company doing business in this State, is entitled, in case of the latter’s insolvency, to be classed as a policy holder and lienor under the provisions of section 17 (chapter two) of the Virginia insurance act. That section is as follows:

“Upon the bonds deposited, as aforesaid, with the treasurer by any such insurance company, the holders of all policies of said company made with residents of this State, or upon property located in this State,…