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CLARK v. PREFERRED ACC. INS. CO. OF N.Y.

17284

231 S.C. 167 (1957)

97 S.E.2d 498

JOSEPH W. CLARK, SR., Respondent, v. THE PREFERRED ACCIDENT INSURANCE COMPANY OF NEW YORK, and STATE OF NEW YORK INSURANCE LIQUIDATION BUREAU, and CHARLES E. WALSH, Assistant Special Deputy Superintendent, and R. LEE KELLY, Insurance Commissioner of the State of South Carolina, Receiver, of which the State of New York Insurance Liquidation Bureau and Charles E. Walsh, Assistant Special Deputy Superintendent, are Appellants.

Supreme Court of South Carolina.

April 10, 1957.

Attorney(s) appearing for the Case

Joseph L. Nettles, Esq., of Columbia, for Appellants.

Messrs. T.C. Callison, Attorney General, and William A. Dallis, Asst. Attorney General, of Columbia, for R. Lee Kelly, Insurance Commissioner of South Carolina, as re-receiver, and Henry H. Edens, Henry Hammer and James H. Hammond, of Columbia, for Joseph W. Clark, Sr., Respondents.

April 10, 1957.

TAYLOR, Justice.

The question before the Court in instant case involves the right of a foreign Statutory Liquidator to withdraw from an insolvency proceeding certain funds of an insolvent insurance company, said funds having been deposited by the insolvent company as a prerequisite to doing business in this State, and now being administered in South Carolina by a South Carolina Receiver.

On July 7, 1952, respondent, Joseph W. Clark...

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