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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: May 13, 1998
PROFESSIONAL BENEFITS INSURANCE COMPANY
(Exact name of registrant as specified in its charter)
Commission File Number 0-22344
Texas 74-2072535
(State or other jurisdiction of (I.R.S. employer
incorporation) identification number)
10835 Rockley Road, Houston, Texas 77099
(Address of principal executive offices, including ZIP code)
281/721-1800
(Registrant's telephone number, including area code)
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PROFESSIONAL BENEFITS INSURANCE COMPANY
FORM 8-K
Item 3 - BANKRUPTCY OR RECEIVERSHIP
On May 13, 1998, a Temporary Injunction and Order Appointing
Temporary Receiver was issued by the District Court of Travis
County, Texas in relation to Professional Benefits Insurance
Company. The Order appointed the Commissioner of Insurance as
Temporary Receiver.
Item 7 - FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 Temporary Injunction and Order Appointing
Temporary Receiver.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
PROFESSIONAL BENEFITS INSURANCE COMPANY
By: /s/ Neal Rockhold
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Name: Neal Rockhold
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Title: Appointed Representative of the Temporary
-----------------------------------------
Receiver
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Dated: May 28, 1998
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INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
99.1 Temporary Injunction and Order Appointing Temporary Receiver
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NO. 98-04500
THE STATE OF TEXAS, ) IN THE DISTRICT COURT OF
Plaintiff )
)
VS. ) TRAVIS COUNTY, T E X A S
)
PROFESSIONAL BENEFITS )
INSURANCE COMPANY, )
Defendant ) 201ST JUDICIAL DISTRICT
TEMPORARY INJUNCTION
AND ORDER APPOINTING TEMPORARY RECEIVER
On this day came to be heard the Application for a Temporary Injunction
and Appointment of a Temporary Receiver filed by the State of Texas. The State
of Texas appeared by and through its Attorney General, Dan Morales. The
Application requests that a Temporary Injunction be issued against PROFESSIONAL
BENEFITS INSURANCE COMPANY (hereinafter referred to as "DEFENDANT"), and against
its affiliates and those acting in concert with it or in its behalf, and that
the Commissioner of Insurance of the Texas Department of Insurance, (hereinafter
referred to as "Commissioner of Insurance") be appointed as Temporary Receiver.
I.
FINDINGS
1) The Court finds that it has jurisdiction over the parties and over the
subject matter herein, and the Court, after considering the State of
Texas' verified Petition, is of the opinion and finds that the law and
the facts are what the State of Texas has alleged in its duly verified
Petition and that the State of Texas is entitled to a Temporary
Injunction and Order Appointing Temporary Receiver as granted herein.
2) The Court finds that the State of Texas, through its Attorney General,
Dan Morales, under the authority granted to him by the Constitution and
laws of this State and at the request of the Commissioner of Insurance,
has a probable right and probably will prevail upon final hearing of
this action and that without the issuance of this temporary
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injunctive relief, the State of Texas will probably suffer irreparable
injury as set forth herein. There is no adequate remedy at law.
3) The Court finds that DEFENDANT is insolvent and in a hazardous
financial condition and is not in compliance with TEX. INS. CODE ANN.
articles 1.10 Section 5, and 3.02 (Vernon Supp. 1997). The Court
further finds that the continued operation of DEFENDANT will be
hazardous to its policyholders and creditors, and that unless
temporarily enjoined, it will continue to operate in violation of the
laws of this State and that it will continue to create debts and
obligations and to deplete the assets of DEFENDANT, all contrary to the
best interests of its policyholders, creditors and the general public
and that by reason of these premises, immediate and irreparable injury,
loss and damage will result to the policyholders and creditors.
4) The Court further finds that unless DEFENDANT is temporarily enjoined
and a Temporary Receiver is appointed for DEFENDANT, the assets of
DEFENDANT may be subjected to claims or illegal preferences, to the
immediate and irreparable injury of its policyholders and creditors;
and that it is necessary that a Temporary Receiver be appointed so that
the legal obligations of DEFENDANT may be supervised during the
pendency of these proceedings to prevent the waste of DEFENDANT's
assets and to preserve the status quo.
5) Because of the foregoing, the Court finds that there exists an
imperative and immediate necessity to enjoin DEFENDANT from directly or
indirectly conducting any business of DEFENDANT as set forth herein; to
enjoin any persons or other entities from commencing or prosecuting any
actions against DEFENDANT or its assets as set forth herein; and to
appoint the Commissioner of Insurance as Temporary Receiver of the
affairs of DEFENDANT, in order to manage, maintain, and preserve the
affairs of DEFENDANT during the pendency of these proceedings and to
wind up and liquidate
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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the property and business of DEFENDANT, if the State of Texas prevails
on its verified claim.
6) The Court further finds that the Temporary Receiver is vested by
operation of law with title to all property and assets of DEFENDANT,
including, but not limited to, its license to sell insurance in the
State of Texas. Furthermore, the Court finds that the Temporary
Receiver succeeds to all rights of DEFENDANT including, but not limited
to, the rights of DEFENDANT as customer of any financial institution.
II.
TEMPORARY INJUNCTION
It is ORDERED that the Clerk of this Court shall issue a Temporary
Injunction against the persons and entities named below, with the following
force and effect:
TO: PROFESSIONAL BENEFITS INSURANCE COMPANY,
ITS DIRECTORS AND FORMER DIRECTORS (INCLUDING,
BUT NOT LIMITED TO, JAMES O. HENRY, JR., D.D.S.,
ROBERT W. LITTLE, D.D.S., WILLIAM L. GLENN, JR.,
D.D.S., AND HOBERT P. LUNDBLADE, D.D.S.); ITS
OFFICERS AND FORMER OFFICERS, (INCLUDING, BUT
NOT LIMITED TO, JERRY CAMPBELL, VICE PRESIDENT,
ROBERT W. LITTLE, TREASURER, WILLIAM L. GLENN,
JR., SECRETARY, JERRY RAY, JAMES O. HENRY, JR.,
BARHAM RHODES AND TAMMY SKAINS); ITS OFFICERS
AND FORMER OFFICERS (INCLUDING, BUT NOT LIMITED
TO, ATTORNEYS; ACCOUNTANTS; MANAGERS;
SUBSIDIARIES; MANAGING GENERAL AGENTS;
REPRESENTATIVES; LOCAL RECORDING AGENTS;
EMPLOYEES OR SERVANTS; STOCKHOLDERS; THIRD
PARTY ADMINISTRATORS; ADJUSTERS; MEMBERS;
TRUSTEES; POLICYHOLDERS; ASSOCIATES; AND THOSE
ACTING IN CONCERT WITH THEM):
EACH OF YOU are hereby RESTRAINED and ENJOINED from:
1.(a) Doing, operating, and conducting any business of DEFENDANT under any
charter, permit, license, power or privilege, belonging to, or
heretofore issued by, or to
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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DEFENDANT, or exercising any direction, control or influence over the
business of DEFENDANT;
1.(b) Wasting, disposing of, using, transferring, selling, assigning,
canceling, hypothecating, withdrawing, or allowing to be withdrawn or
concealing, in any manner, or in any way, any property of DEFENDANT,
also including, but not limited to, that property which has been
acquired, purchased or paid for by DEFENDANT, whether such property is
real, personal, or mixed, of any kind, or nature, wherever located, all
of which property is placed in custodia legis by virtue of the
appointment of the Temporary Receiver. Such property shall also include
any claims or causes of action belonging to, owned by, in the
possession of, or claimed by DEFENDANT which DEFENDANT might have
against any person, firm, association, or corporation, all of which
property is placed in custodia legis, and title to such property is
vested in the Receiver;
1.(c) Disposing of any account, debt, deposit, share account, trust account,
or any other property you may own, owe to, or hold for the benefit of
DEFENDANT, or any account held individually, jointly, or severally for
DEFENDANT, whether such account, debt, deposit, share account, trust
account, or any other asset is owned, or held for DEFENDANT in the name
of, or for the benefit of DEFENDANT, or under any other name(s), all of
which property is placed in custodia legis, and title to such property
is vested in the Receiver;
1.(d) Removing from the jurisdiction of this Court, or from the place of
business of DEFENDANT, any office equipment, furniture or fixtures,
books, records, or any other property of any kind or nature whatsoever,
real and personal, belonging to, claimed, or owned by DEFENDANT, all of
which property is placed in custodia legis, and title to such property
is vested in the Receiver;
1.(e) Doing anything, directly or indirectly, to prevent the Temporary
Receiver or his designees from gaining access to, acquiring, examining
or investigating any books,
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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documents, records or other materials concerning DEFENDANT or its
affairs and property under whatever name(s) they may be found. Such
documentary material shall include, but not be limited to, records and
property held by banks, savings and loan associations, trust companies,
credit unions or any other entities or depository institutions; and
1.(f) Interfering in any way, with these proceedings or the lawful acts of
the Temporary Receiver or his designees, and from making any claim, or
from commencing, or prosecuting any action or appeal or arbitration,
including administrative proceedings or obtaining any preference,
judgment, attachment, garnishment, or other lien, or from the making of
any levy or foreclosure against DEFENDANT, or against its property, or
any part thereof, or against the Temporary Receiver thereof, except by
doing so in the receivership proceedings herein, and from asserting any
claims against DEFENDANT or against the Temporary Receiver thereof,
except in this receivership proceeding as permitted by TEX. INS. CODE
ANN. art. 21.28.
EACH OF YOU are further specifically ORDERED to make available and
disclose to the Temporary Receiver or his designees the nature, amount, and
location of any and all of the property of DEFENDANT, including, but not limited
to, any of the property listed in Subparagraphs 1.(b) through l.(e) above, and
to immediately surrender all such property to the Temporary Receiver or his
designees.
2. Injunctions Against Financial Institutions
TO: ANY AND ALL BANKS (INCLUDING, BUT NOT
LIMITED TO, COMPASS BANK, HOUSTON, TEXAS,
ACCOUNT NUMBERS 713-5149-1, 713-5150-5, 713-5152-1,
TEXAS COMMERCE BANK-CHASE, HOUSTON, TEXAS,
ACCOUNT NUMBERS 017-00037275, 017-00037549, 017-
0003753l, INTERSTATE/JOHNSON LANE, ATLANTA,
GEORGIA, MONEY MARKET ACCOUNT NUMBER 520-
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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00371-77F; SAVINGS AND LOAN ASSOCIATIONS; TRUST
COMPANIES; CREDIT UNIONS; WELFARE TRUSTS; OR
ANY OTHER FINANCIAL OR DEPOSITORY INSTITUTIONS:
EACH OF YOU are hereby RESTRAINED and ENJOINED from:
2.(a) Disposing of, using, releasing, transferring, selling, withdrawing,
allowing to be withdrawn, assigning, canceling, hypothecating, or
concealing, in any manner, or in any way, any property of DEFENDANT,
including, but not limited to, any books, records, equipment, money,
accounts receivable, stocks, bonds, assets, policies of insurance,
notes, and funds of DEFENDANT, whether such property is real, personal,
or mixed, of any kind, or nature, wherever located, all of which
property is placed in custodia legis, and title to such property is
vested in the Receiver;
2.(b) Disposing of any account, debt, deposit, share account, trust account,
or any other property you may own, owe to, or hold for the benefit of
DEFENDANT, or any account held individually, jointly, or severally for
DEFENDANT, whether such account, debt, deposit, share account, trust
account, or any other asset is owned, or held for DEFENDANT, in the
name of, or for the benefit of DEFENDANT, or under any other name(s),
all of which property is placed in custodia legis, and title to such
property is vested in the Receiver;
2.(c) Doing anything, directly or indirectly, to prevent the Temporary
Receiver or his designees from gaining access to, acquiring, examining
or investigating any books, documents, records or other material
concerning DEFENDANT, or its affairs and property under whatever
name(s) they may be found. Such documentary material shall include, but
is not limited to, records and property held by banks, savings and loan
associations, trust companies, credit unions or any other entity or
depository institution,
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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as well as any bank accounts, or any other assets into which have been
transferred, deposited, and/or placed funds, or other assets belonging
to or payable to DEFENDANT, or to which DEFENDANT may have claim or
title regardless of under whose name(s) such accounts, debts, deposits,
share accounts, safe deposit boxes, trust accounts, or other assets are
held, all of which property is placed in custodia legis, and title to
such property is vested in the Receiver;
2.(d) Transacting any business of the DEFENDANT in any manner whatsoever
except pursuant to the specific instructions of the Temporary Receiver
or his designees; and
2.(e) Interfering, in any way, with these proceedings or the lawful acts of
the Temporary Receiver or his designees and from making any claims or
commencing or prosecuting any action or appeal or arbitration,
including administrative proceedings or obtaining any preference,
judgment, attachment, garnishment, or other lien, or from the making of
any levy or foreclosure against DEFENDANT, its property, or any part
thereof, or against the Temporary Receiver, whether against or through
DEFENDANT's policyholders, except in this receivership proceeding as
permitted by TEX. INS. CODE ANN. art. 21.28.
EACH OF YOU are further specifically DIRECTED to make available and disclose to
the Temporary Receiver or his designees the nature, amount, and location of any
and all of the property of DEFENDANT, all information relating to the property
and the account(s) of DEFENDANT including, but not limited to, any of the
property listed in Subparagraphs 2.(a) through 2.(c) above, and to immediately
surrender all such property of DEFENDANT to the Temporary Receiver or his
designees. The Court further specifically finds and orders that the Temporary
Receiver is vested by operation of law with title to all property and assets
held by and
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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succeeds to the rights of DEFENDANT as the customer of any financial or
depository institution.
FURTHER, EACH INSURANCE AGENT OR AGENCY IS SPECIFICALLY
ORDERED to remit earned premium, and to account and report to the Receiver by
June 30, 1998 on an item basis as to the disposition of unearned premium and
unearned commissions as required pursuant to TEX. INS. CODE ANN. art. 21.11-2.
3. Injunction Against all Other Parties
TO: ANY AND ALL OTHER PERSONS, ASSOCIATIONS,
CORPORATIONS, OR ANY OTHER LEGAL ENTITIES
INCLUDING, BUT NOT LIMITED TO, THE UNITED STATES
POSTMASTER, POLICYHOLDERS, CLAIMANTS, AND
ATTORNEYS ASSERTING CLAIMS AGAINST
PROFESSIONAL BENEFITS INSURANCE COMPANY OR
ITS INSUREDS:
EACH OF YOU are hereby RESTRAINED and ENJOINED from:
3.(a) Disposing of, using, releasing, transferring, selling, withdrawing,
allowing to be withdrawn, assigning, canceling, hypothecating, or
concealing, in any manner, or in any way, any property of DEFENDANT,
including, but not limited to, any books, records, equipment, money,
accounts receivable, stocks, bonds, assets, policies of insurance,
notes, and funds of DEFENDANT, whether such property is real, personal,
or mixed, of any kind, or nature, wherever located, all of which
property is placed in custodia legis, and title to such property is
vested in the Receiver;
3.(b) Disposing of any account, debt, deposit, share account, trust account,
or any other property you may own, owe to, or hold for the benefit of
DEFENDANT, or any account held individually, jointly, or severally for
DEFENDANT, whether such account, debt, deposit, share account, trust
account, or any other asset is owned, or held for
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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DEFENDANT in the name of, or for the benefit of DEFENDANT, or under any
other name(s), all of which property is placed in custodia legis, and
title to such property is vested in the Receiver;
3.(c) Doing anything, directly or indirectly, to prevent the Temporary
Receiver or his designees from gaining access to, acquiring, examining
or investigating any books, documents, records or other material
concerning DEFENDANT or its affairs and property under whatever name(s)
they may be found. Such documentary material shall include, but is not
limited to, records and property held by banks, savings and loan
associations, trust companies, credit unions or any other entities or
depository institutions, attorneys or any other entities, as well as
any bank accounts, or any other assets into which have been
transferred, deposited, and/or placed funds, or other assets belonging
to or payable to DEFENDANT, or to which DEFENDANT may have claim or
title regardless of under whose name(s) such accounts, debts, deposits,
share accounts, safe deposit boxes, trust accounts, or other assets are
held, all of which property is placed in custodia legis, and title to
such property is vested in the Receiver;
3.(d) Transacting any business of the DEFENDANT in any manner whatsoever
except pursuant to the specific instructions of the Temporary Receiver
or his designees; and
3.(e) Interfering, in any way, with these proceedings or the lawful acts of
the Temporary Receiver or his designees and from making any claims or
commencing or prosecuting any action or appeal or arbitration,
including administrative proceedings or obtaining any preference,
judgment, attachment, garnishment, or other lien, or from the making of
any levy or foreclosure against DEFENDANT, its property, or any part
thereof, or against the Temporary Receiver, whether against or through
DEFENDANT's policyholders, except in this receivership proceeding as
permitted by TEX. INS. CODE ANN. art. 21.28.
EACH OF YOU are further specifically DIRECTED to make available and
disclose to the Temporary Receiver or his designees the nature, amount, and
location of any and all of the
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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property of DEFENDANT, including, but not limited to, any of the property listed
in Subparagraphs 3.(a) through 3.(c) above, and to immediately surrender all
such property of DEFENDANT to the Temporary Receiver or his designees.
III.
APPOINTMENT OF TEMPORARY RECEIVER
IT IS FURTHER ORDERED, ADJUDGED, and DECREED that the Commissioner of
Insurance, P.O. Box 149104, Austin, Texas 78714-9104, is hereby appointed
Temporary Receiver of PROFESSIONAL BENEFITS INSURANCE COMPANY and granted the
following duties and powers:
1) The Temporary Receiver is authorized and directed to secure and to take
control and possession of all property, books, records, assets and
other items in the possession of or belonging to DEFENDANT as
previously described herein, of whatever nature and wherever located,
including, but not limited to, any statutory or special deposits made
by or for DEFENDANT with any officer or agency of any state or the
federal government, banks, savings and loan associations, and other
depositories, any and all bank deposits, collateral or the contents of
any safe deposit boxes in the name of or belonging to DEFENDANT;
2) The Temporary Receiver is hereby granted and given all equitable powers
and authority under any and all statutes and under the common law of
this State authorizing the appointment of a Receiver, and particularly
all of the powers and authority granted in TEX. INS. CODE ANN. art.
21.28 (Vernon Supp. 1997) and TEX. CIV. PRAC. & REM. CODE art. 64.001
et seq., and as representative of DEFENDANT, its policyholders,
claimants and creditors, to preserve, protect, and recover any assets
or property of DEFENDANT, including claims or causes of action
belonging to or that may be asserted by DEFENDANT;
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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3) The Temporary Receiver is further authorized and directed to file,
prosecute and defend or settle any suit or suits heretofore filed or
which may hereafter be filed by or against DEFENDANT deemed by the
Temporary Receiver to be necessary to protect any of the interests of
DEFENDANT or any property affected thereby, and to take any action
deemed by the Temporary Receiver to be necessary to enforce the terms
of this order, and to preserve all property and assets of DEFENDANT;
4) As provided by TEX. INS. CODE ANN. art. 21.28, the Temporary Receiver
is empowered to conduct the business of DEFENDANT, to administer the
business and operations of DEFENDANT and to employ and pay or
compensate any legal counsel, any accountants, clerks, and/or
assistants, as he deems necessary, and to authorize the payment of the
administrative expenses of the receivership estate to be paid out of
the funds or assets of DEFENDANT in the possession of the Temporary
Receiver or coming into his possession. The Temporary Receiver is
additionally empowered to open any and all mail addressed to DEFENDANT,
intended for DEFENDANT, or arriving at the address of DEFENDANT;
5) IT IS FURTHER ORDERED that the Temporary Receiver appointed herein,
shall be authorized to supervise, suspend, exclude or terminate any or
all of the employees, officers and/or directors of DEFENDANT, or any
one of them, and to employ such necessary employees, and to pay their
salaries and related reasonable and necessary fees out of the funds or
assets of DEFENDANT in the possession of the Temporary Receiver, or
coming into his possession, as he deems necessary in the enforcement of
his duties; and
6) IT IS FURTHER ORDERED that the Temporary Receiver appointed herein,
shall be authorized to remove from the premises of DEFENDANT all books
and/or records which relate to or are connected with the business of
DEFENDANT and which belong to or are in the possession of DEFENDANT,
and to secure the premises of DEFENDANT as he
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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deems necessary to preserve and protect the assets, books and/or
records of DEFENDANT.
The Court finds that the Commissioner of Insurance, as
Temporary Receiver, has designated Neal W. Rockhold, Deputy Commissioner, and
his staff to perform the duties of the Receiver. Neal W. Rockhold and his staff
have all the powers of the Receiver under this Temporary Injunction and Order
Appointing Temporary Receiver.
The Court does not require the Commissioner of Insurance to file a bond
as permitted by the TEX. INS. CODE ANN. art. 21.28, Sections 2(d). The
Commissioner of Insurance having taken an oath that he will faithfully perform
the duties of Temporary Receiver in this cause and upon the taking of such oath
and the filing of it, the Temporary Receiver was fully qualified and empowered
to take charge of all of the assets and other properties of DEFENDANT in the
manner herein provided and to function as Temporary Receiver herein.
IT IS FURTHER ORDERED that this Order directing the Temporary Receiver
to take possession of the affairs and assets of DEFENDANT shall continue in full
force and effect until further Order of this Court.
IT IS FURTHER ORDERED that the Temporary Receiver has the authority to
enter into any contracts which he deems necessary to perform the duties of
Temporary Receiver, and that any Special Deputy Receiver appointed under TEX.
INS. CODE ANN. art. 21.28 shall be vested with all of the Temporary Receiver's
rights and powers, subject to any limitations imposed by the Temporary Receiver.
IV.
OTHER ORDERS
IT IS FURTHER ORDERED that anyone over the age of 18 who is not a party
to nor interested in the outcome of this suit may serve all citations and
notices in this cause.
IT IS FURTHER ORDERED that the Attorney General have a claim against
DEFENDANT for all costs incurred in this proceeding, pursuant to TEX. INS. CODE
ANN. art.
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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21.28, Section 8(a) including reasonable attorneys' fees, investigative costs
and court costs, pursuant to TEX. CIV. PRAC. & REM. CODE ANN. Sections 64.051
and 66.003, and TEX. GOV'T CODE Section 402.006, subject to the provisions of
TEX. INS. CODE ANN. art. 21.28.
No bond being required by the State of Texas, this Temporary Injunction
shall issue and become effective immediately; and the Commissioner of Insurance,
as Temporary Receiver, shall carry out his duties in accordance with the terms
of this Order.
IT IS FURTHER ORDERED that this Temporary Injunction here and now
granted shall continue in effect by Order of this Court until the hearing on the
Permanent Injunction. The Permanent Injunction is hereby set for hearing before
the Special Master on June 22, 1998, at 9:30 o'clock a.m. in Hearing Room 102,
1st Floor, Texas Department of Insurance, 333 Guadalupe, Austin, Texas.
Any written objection shall specifically list all reasons for objection
with supporting references to and discussion of statutory and case authorities.
Reasons not stated in writing will not be considered orally at the hearing.
Failure to file a written objection before the Special Master constitutes a
waiver of the right to object to the Special Master's Order of Recommendation.
All of the foregoing is subject to further orders of this Court.
SIGNED, at Austin, Travis County, Texas on this the 13 day of May 1998,
1998, at 2:05 o'clock p.m.
-----------------------------------
DISTRICT JUDGE PRESIDING
TEMPORARY INJUNCTION AND ORDER
APPOINTING TEMPORARY RECEIVER
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