HomeMy WebLinkAbout2860 t
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bFF: '4t~~ PACE 1~3
• 'REC. ~
3. That th~ Rzspond~nt, £piscopal Sclioo2 Foundation College Award
Program, Inc., is insolvent. .
~rh~t Qo~~~~~An~, ~r~~~~~a~ Sch~n1 Foundation Colleqe Award
Program, Inc., has ceased the selling of inemberships for a period of in excess
of six months.
5. That the Respondent, Episcopal School Foundat~on College Award
Program, Inc., is the settlor of a trust fund composed of monies contributed
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by tru5tees of Respondents members, said trust requiring a direction and -
administration that Respondent is unable and has failed to perform to the
detriment of the public and the members and trustees of inembers of the
Respondent.
WNEREFORE, IT IS ORDERED AND ADJUDGED that Thomas D. 0'Malley, State
Ir:sura~ce Comnissioner and Treasurer,of the Department of Insurance of Florida
is hereby appointed Receiver, and L. E. Caruthers, R. F. Behling and Miss
Kathryn Gregory, (employees of the Rehabilitation and Liqdidation Division of
the Departr~nt of Insurance of the State of Florida) are hereby appointed
Deputy R~ceivers of Episcopal School Foundaticn College Award Program, Inc.,
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~ and the Receiver is Authoriied and directed to: ~
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1 1. Liquidate the assets of the Respondent.
~ 2. Take irmediate possession of all the property, assets and estate
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k of the Respon~ent, all rights of action, books, docur~ents, papers, evidence of
~ debt and all other property of every kind ~•lhatsoever and wheresoever located
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~ in this State bzlonginc~ to Respondent, including but not limited to, all bank
~ accounts and monies in the hands of agents or others due and not paid to F
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~ Respondent, ar.d to hold all such assets pending further orders of this Court.
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~ 3. Collect any and all debts which are economically feasible to
; collect that may be due and owing to the Respondent.
- 4. Apply to this Court for further instructions in the discharge of •
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