Salt Lake Telegram | 1940-03-08 | Page 9 | Surety Firm Closing Asked

SURETY FIRM 1 CLOSItlGASKED ; Alleging the association b Insolvent In-solvent and has less than the Required Re-quired amount of Insurance In force, petition requesting receivership receiv-ership for the Universal Life Insurance In-surance of Salt Lake City was on file Friday In Third district court. The petition, filed by C. Clarence Clar-ence Neslen. state Insurance com- 1 mlssioner, asks that C N. Ottonsen, deputy Insurance commissioner, be appointed receiver. The petition allege the association associa-tion Is unable to pay benefits for which It Is obligated under Its contracts con-tracts of insurance, and that It has less than the minimum membership member-ship for benefit associations of 900 , members and less than $500,000 i insurance In force. j1