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IN RE LLOYDS OF TEXAS

No. 2956.

43 F.2d 383 (1930)

In re LLOYDS OF TEXAS.

District Court, N. D. Texas, Dallas Division.

September 18, 1930.

Attorney(s) appearing for the Case

Dexter Hamilton and McBride, O'Donnell & Hamilton, all of Dallas, Tex., for the motion.

H. A. Bateman and Burgess, Burgess, Chrestman & Brundidge, all of Dallas, Tex., opposed.

ATWELL, District Judge.

Under the terms of articles 5017, 5017e, statutes of Texas (Vernon's Ann. Civ. St.) insurance organizations operated under Lloyds plan are required to maintain certain assets and certain guaranteed funds; upon failure to make good any impairment the insurance commissioner is required to take charge of such assets, and, if possible, to effect reinsurance, and, in case reinsurance cannot be had, the affairs of such Lloyds shall be wound up through...

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