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  5. 313 S.E.2d 253 (1984)
 

N.C. REINSURANCE FAC. v. N.C. INS. GUAR.

Nos. 8310SC41, 8310SC591.

313 S.E.2d 253 (1984)

NORTH CAROLINA REINSURANCE FACILITY v. NORTH CAROLINA INSURANCE GUARANTY ASSOCIATION, John Randolph Ingram, and Thomas J. Caldarone, as Domiciliary Receiver of American Reserve Insurance Company. STATE of North Carolina, on Relation of John Randolph INGRAM, Commissioner of Insurance of North Carolina, Plaintiff, v. AMERICAN RESERVE INSURANCE COMPANY, Defendant, and NORTH CAROLINA INSURANCE GUARANTY ASSOCIATION, Third-Party Plaintiff, v. Thomas J. CALDARONE, as Commissioner of Insurance of the State of Rhode Island and as Domiciliary Receiver of American Reserve Insurance Company, Third-Party Defendant.

Court of Appeals of North Carolina.

April 3, 1984.

Attorney(s) appearing for the Case

Atty. Gen. Rufus L. Edmisten by Asst. Atty. Gen. Richard L. Griffin, Raleigh, for Commissioner of Insurance Ingram, appellant.

Bailey, Dixon, Wooten, McDonald & Fountain by J. Ruffin Bailey and Gary S. Parsons, Raleigh, for Commissioner of Insurance Caldarone, appellant/appellee.

Moore, Van Allen & Allen by Arch T. Allen, III, and Joseph W. Eason, Raleigh, for North Carolina Ins. Guar. Ass'n, appellee.

WHICHARD, Judge.

PROCEDURAL BACKGROUND

This litigation arises from the insolvency of American Reserve Insurance Company (American Reserve), a Rhode Island corporation licensed to do business in North Carolina, which was declared insolvent by a Rhode Island court on 7 May 1979.1 The insolvency order named Rhode Island Commissioner of Insurance Thomas J. Caldarone (Commissioner Caldarone) as domiciliary receiver. On 31 May 1979...

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