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CONTINENTAL BANK & TRUST COMPANY v. GOLD

Civ. No. 914.

140 F.Supp. 252 (1956)

CONTINENTAL BANK & TRUST COMPANY, a Utah corporation, Receiver of Inland Empire Insurance Company, Petitioner, v. Charles F. GOLD, Commissioner of Insurance, State of North Carolina, and Edwin Gill, State Treasurer, State of North Carolina, Defendants.

United States District Court E. D. North Carolina, Raleigh Division.

March 28, 1956.

Attorney(s) appearing for the Case

Thomas A. Banks, Raleigh, N. C., for petitioner.

Rudolph I. Mintz, Wilmington, N. C., for intervenors.

William B. Rodman, Jr., Atty. Gen., State of N. C., T. Wade Burton, Asst. Atty. Gen., for defendants.

GILLIAM, District Judge.

The Louisville Fire and Marine Insurance Company once qualified to do business in North Carolina. One of the qualifications that a foreign corporation must meet for engaging in the insurance business in this State is that such a company must turn over to the State Commissioner of Insurance a deposit of securities. The Louisville Company made the necessary deposit which amounted to $50,000. Later the risks of the Louisville Company were reinsured...

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