HomeMy WebLinkAbout0780 • ~ ' " r
. ~g
~ 31~
+ I~ TN~ CIRCUIT COttRT CF TNE ~
f SECO~D JUDICIAi. CIf:GUIT, IY ~
AND FOR LEON COU\TY, FLC~RIDA ~
t
E
. CIVIL ACTION N0. ?5-1399 ~
STATE OF FLORIDA, ex re2. )
The Department of Insurance . ~ -
of .the State of Florida, ) ,
, Rel ator, ) ~
. ~
vs . ~ -
~
SEABOARD LIFR INSURANGE ; " )
CODiPANY OF A.~tERICA, a .
Florida-corporation authorized )
to transact an insurance ~
business, ~
Respondent. )
~ ORDBR APPOINTINC TEiE DEPARTAtENT OF
INSUR/INCE AS REHAIIILITATOR OF RESPONDENT
. TH~S CAUSE, coming on this day to be heard on the Appl~.cation
{ .
of the Department of Insurance of the State of Florida and the Order
to Show Cause, and the Court being fully advised in the premises finds:
1. Section 631.051, Florida Statutes, authorizes the
Department to apply to this Court for an order directing it to
, rehabilitate a domestic insurer on the grounds that the insurer is
~ impaired as to its caFital or surplus or both, within the meaning of
the provisions of Section 631.011(3) and (4), Florida Statutes,
2. By stipulation of counsel for the parties approved by
this Court on July 21, 1975, the Respondent,-Seaboard Life Insurance
Company of America admitted the material allegations of the Application ~
- ~
for the Rule to Show cause filed by the Department on July 1975.
~
~
~ 3. The Department of Insurance has not requested a
I , •
~ continuance pursuant to the aforesaid stipulation nor has it reported
~ to the Court that the insurer has placed acceptable assets in the
' _
i company which would cure the impairment of capital and~surplus.
4. The respondent has among its assets securities on
~ deposit with the Treasurer of_the State of Florida in the approximate
;
j par value amount of ;886,000.00.
I
~
~
~ t
~ °aooK 243 PncE 781
- ~ _ ~
._.~~SV
-
~
•,"<~a