People v. American Steam-Boiler Insurance
New York Supreme Court
Appeal from special term, New York county. Action by the people of the state of New York against the American Steam-Boiler Insurance Company of New York City to dissolve defendant corporation for nonuser. From an order denying a mtt tion to compel the superintendent of insurance to pay interest, Henry S. Ward, who was appointed receiver in the action to dissolve, appeals.
1Opinion of the CourtO’Brien, J.
On November 5, 1883, the American Steam-Boiler Insurance Company deposited, pursuant to section 6, c. 463, of the Laws of 1853, $100,000 in bonds with the superintendent of insurance. The company subsequently having ceased to do business, an action was commenced by the people for the purpose of dissolving the corporation for nonuser, winding it up, and distributing its assets. In such proceeding the receiver was appointed, and duly qualified. The interest on the bonds so deposited became due on the 1st of May, 1894, and was collected by the superintendent of insurance; and to obtain such…
2Cases cited1 opinion
- Ruggles v. . ChapmanNew York Court of Appeals · 1874
3Cited by2 opinions
- People v. American Steam Boiler InsuranceNew York Court of Appeals · 1895
- People v. American Steam-Boiler InsuranceNew York Supreme Court · 1895