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STATE EX REL. DIRKS v. CAPITOL SECURITY LIFE INS. CO.

No. 10696.

174 N.W.2d 212 (1970)

STATE of South Dakota on the Relation of Warren E. DIRKS, Commissioner of Insurance of the State of South Dakota, Plaintiff and Respondent, v. CAPITOL SECURITY LIFE INSURANCE COMPANY OF SIOUX FALLS, Defendant and Appellant, and First South Dakota Bank Shares, Inc. and Finance Securities, Inc., Objectors and Appellants.

Supreme Court of South Dakota.

February 10, 1970.

Attorney(s) appearing for the Case

John E. Burke, Sioux Falls, Bangs, McCullen, Butler, Foye & Simmons, Geo. A. Bangs and W. A. McCullen, Rapid City, for defendant and objectors, appellants.

Woods, Fuller, Shultz & Smith, H. L. Fuller, Sioux Falls, for plaintiff and respondent.

HANSON, Judge.

In delinquency proceedings pending in the Circuit Court of Minnehaha County under the provisions of SDCL 58-29 involving the Capitol Security Life Insurance Company a group of minority stockholders appeal from an order of liquidation.

Capitol Security Life Insurance Company of Sioux Falls was incorporated under the laws of this state in 1960 as a stock life insurance company. It was granted a license to write life and health insurance on December...

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