On February 28, 1964, the Commonwealth Mutual Insurance Company [hereinafter CMIC] was dissolved by order of the Court of Common Pleas of Dauphin County, sitting as the Commonwealth Court. Pursuant to the Act of May 17, 1921, P.L. 789, art. V, § 506, as amended, 40 P.S. § 206 (1971), the Insurance Commissioner of Pennsylvania was appointed statutory liquidator.
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