ROWEN v. LeMARS MUT. INS. CO. OF IOWA

No. 83-1131.

357 N.W.2d 579 (1984)

Marla ROWEN, Mary E. Farnsworth, For Themselves and all Other Policyholders-Members of LeMars Mutual Insurance Company of Iowa, and for Themselves and All Others Similarly Situated, Appellants, v. LeMARS MUTUAL INSURANCE COMPANY OF IOWA, Appellee, Alice Alesch, Executor of the Estate of John Alesch, a/k/a John H. Alesch, Clyde Eastman, Alice W. Alesch, M.H. Tappan, W.K. Tappan, P.G. Vandermeer, M.H. Gearke, John M. Vollmar and Burton Dull, and The Iowa Mutual Insurance Company of DeWitt, Iowa, Raymond A. Brown, William Couch, George S. Howes, Carl J. Smith, Carman G. Smith, and Alesch, Inc., Margaret A. Sevenich, Mark Kay Buffington and Jane M. Warnock, Defendants.

Supreme Court of Iowa.

November 14, 1984.


Attorney(s) appearing for the Case

Michael R. Mundt and D.R. Franck of Franck, Mundt, Nepper & Franck, Denison, for appellants.

Robert D. Mishne of Klass, Whicher & Mishne, Sioux City, for appellee LeMars Mutual Insurance Company of Iowa.

Thomas J. Miller, Atty. Gen., and Fred M. Haskins, Asst. Atty. Gen., for amicus curiae Commissioner of Insurance.

Considered by REYNOLDSON, C.J., and McCORMICK, LARSON, SCHULTZ, and CARTER, JJ.


McCORMICK, Justice.

This is the fourth appeal in a derivative action brought by policyholders of LeMars Mutual Insurance Company (LeMars) to annul the takeover of LeMars by Iowa Mutual Insurance Company of DeWitt (Iowa Mutual). Prior appeals are reported at 230 N.W.2d 905 (Iowa 1975), 282 N.W.2d 639 (Iowa 1979), and 347 N.W.2d 630<...

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