People v. American Steam Boiler Insurance
New York Court of Appeals
Appeal by the superintendent of insurance of the state of New York from order of the General Term of the Supreme Court in the first judicial department, made May 17, 1895, which affirmed an order of Special Term, directing said superintendent to transfer and pay over to the receiver of the American Steam Boiler Insurance Company the interest collected by him upon the securities deposited by the company for the protection of policyholders.
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Appeal by the superintendent of insurance of the state of New York from order of the General Term of the Supreme Court in the first judicial department, made May 17, 1895, which affirmed an order of Special Term, directing said superintendent to transfer and pay over to the receiver of the American Steam Boiler Insurance Company the interest collected by him upon the securities deposited by the company for the protection of policyholders. The facts, so far as material, are stated in the opinion. The superintendent of insurance holds the securities deposited by the company named, by virtue of…
1Opinion of the CourtHaight, J.
The American Steam Boiler Insurance Company is a casualty company organized under the provisions of chapter 463 of the Laws of 1853. Pursuant to the provisions of that act it had deposited with the superintendent of insurance the sum of §100,000 in trust for the benefit of its policyholders. In November, 1893, a judgment ivas entered in this action dissolving the franchises of the company, forfeiting its corporate privileges and appointing Henry S. Ward as receiver. After the dissolution of the corporation the superintendent of insurance collected §3,000 interest that matured upon the…
2Cases cited3 opinions
- Ruggles v. . ChapmanNew York Court of Appeals · 1874
- Matter of Att'y-Gen'l v. . North Am. L. Ins. Co.New York Court of Appeals · 1880
- People v. American Steam-Boiler InsuranceNew York Supreme Court · 1894
3Cited by3 opinions
- Vandiver v. PoeCourt of Appeals of Maryland · 1913
- Glover v. St. Louis Mutual Bond Investment Co.Supreme Court of Missouri · 1897
- Raymond v. Security Trust & Life InsuranceNew York Supreme Court · 1904