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Full-Text Articles in Insurance Law
Garnishment - Full Faith And Credit - Nature Of Principal Judgment, John N. Seaman
Garnishment - Full Faith And Credit - Nature Of Principal Judgment, John N. Seaman
Michigan Law Review
Plaintiff, appellee, sued an Illinois insurance company for legal services, and on the same day sued out a writ of garnishment against a Michigan debtor of the insurance company. Two days later the insurance company was dissolved in Illinois under the provisions of the Illinois Insurance Code, and an Illinois liquidator was vested with title to all of the insurance company's property, wherever located. The liquidator intervened in this case, claiming prior title to the garnishment debt, by virtue of the Illinois statute and judicial proceedings. Held, the commencement of the garnishment suit gave plaintiff a lien on the …
Bankruptcy-Corporate Reorganization - Fraternal Benefit Society Entitled To Benefits Of Section 77b, Russel T. Walker
Bankruptcy-Corporate Reorganization - Fraternal Benefit Society Entitled To Benefits Of Section 77b, Russel T. Walker
Michigan Law Review
Plaintiff's right to petition for reorganization under section 77 B of the Bankruptcy Act was challenged on the ground that plaintiff was an "insurance corporation" within the meaning of section 4 of the Bankruptcy Act and therefore excepted from the benefits of the act. Held, that when Congress used the words "insurance corporation" in the Bankruptcy Act, it meant a corporation authorized by the law of its creation to do an insurance business. As Congress knew that the various States had authorized the formation of fraternal benefit societies, described as such in enabling statutes, when Congress passed this statute …