HomeMy WebLinkAbout0797 and to apply to this Court for an Order appointing it as Receiver and
directing it to liquidate the business of such scholarship plan
corporation upon any of the grounds set forth in Section 617.60, Florida
Statutes. •
3. The Rcspondent is subject to liquidation in that three (3)
statutory grounds, within Section 617.60, Florida Statutes, upon which
liquidation may be based are present regarding the Respondent`~s affairs:
the Respondent is financially impaired; its condition is su~h that
further transaction of its business will be hazardous to the public, its
members and trustees of mcmbers; and, it has not sold memberships for a
period in ~xcess of six months. -
4. The Respondent has not shown any cause why it should not
be liquidated. ~
,
~ NOW, TNEREFORE, IT IS ORDERED and ADJUDGED that the Petition
of the Florida Department of InsuYance for an Ordex appointing i~
Receiver for purposes of liquidation is granted, and the Relator.is
hereby directed to:
~ a. Take immediate possession of any and all real and personal
property, assets and estate (including, but not limited to, all offices
maintained by the Respondent. and ali ri?hr.c nf ~~-±=~r, ~~~yj,
documents, evidences of debt, and all other property of every kind-
whatsoever and wheresoever located) belonging to or in the possession of
~
t said Respondent and its officers, directors, employees, consultants,
~ salesmen or agents pertaining to Respondent's business (including, but
~ ~ ~ -
~ not limited to, all bank accounts, stocks. bonds, debentures, mortgages,
~
furniture, equipment, fixtures and office supplies) and to hold all such
-groperty, assets and estate pursuant_ot further order of this Court. .
b. Liquidate all of the Respondent'•s praperty, assets and
estate subject to order of the Court. ~
~ c. Proceed to collect any and a~l debts due and oKing
Respondent, which it is feasible to attempt to collect.
d. Commence and maintain all legal actions necessary for the
~ conduct of the receivership.
~ e. Not defend legal actions wherein.Respondent or the Receiver
~ "
~ is a party defendant, commenced either prior to or subsequent to the
' t
~ 'entry of this Order except upon authorization of this Court.
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