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LINKS AIDA Reinsurance and Insurance Arbitration Society (ARIAS-US) Association of Insurance and Reinsurance Run-off Companies (AIRROC) International Association of Insolvency Regulators (IAIR) International Association of Insurance Receivers (IAIR) National Association of Insurance Commissioners (NAIC) National Conference of Insurance Guaranty Funds (NCIGF) NJ Department of Banking and Insurance (NJDOBI)
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Notice
of Liquidation
NOTICE IS HEREBY GIVEN THAT:
2.) All Insurance Policies, Bonds or other Contracts of Insurance
("Policy") issued by integrity shall terminate upon the earlier
of (A) The expiration of the Policy Coverage; or (B) The date when the
Insured Replaces the Insurance coverage with Insurance of another Insurer
or Terminates the Policy; or (c) 12:01 A.M., Eastern Time, April 24, 1987.
3.) All persons or entities are permanently enjoined and restrained from
bringing, maintaining or further prosecuting any action, suit or
proceeding against Integrity or its subsidiaries, Integrity Credit
Corporation, Integrity Realty Corp. or Prime Life Insurance Company,
Pursuant to said order, all persons and entities are enjoined and
restrained until may 8, 1987, from commencing, maintaining or further
prosecuting any claim or suit against any insured of Integrity.
4.) ALL PERSONS INDEBTED TO, OR HAVING ANY PROPERTY OF INTEGRITY SHALL FOR WITH RENDER AN
ACCOUNT OF SAID INDEBTEDNESS AND IMMEDIATELY PAY OR DELIVER SUCH PROPERTY
TO THE DEPUTY LIQUIDATOR.
5.) ALL CREDITORS OF INTEGRITY AND PERSONS HAVING UNSATISFIED CLAIMS OR
DEMANDS AGAINST IT OR ITS POLICYHOLDERS/BONDHOLDERS
("POLICYHOLDERS") ARE HEREBY REQUIRED TO PRESENT SAME IN WRITING
TO THE DEPUTY LIQUIDATOR AT THE ADDRESS BELOW:
7.) CLAIMS WHICH MAY BE COVERED UNDER AN INSURANCE GUARANTY ASSOCIATION WILL BE FORWARDED
TO THE APPROPRIATE GUARANTY ASSOCIATION FOR PROCESSING. IF SUCH
CLAIMS ARE SUBJECT TO A STATUTORY DEDUCTIBLE, ANY CLAIM NOT COVERED BY THE
GUARANTY ASSOCIATION WILL REMAIN AS A CREDITORS CLAIM IN THE LIQUIDATION
PROCEEDING.
8.) ALL PERSONS AND POLICYHOLDERS, AGAINST
WHOM ACTIONS ARE PENDING, AND WHICH HAVE DEFINED BY AN ATTORNEY EMPLOYED
OR RETAINED BY INTEGRITY, ARE ADVISED THAT THE EMPLOYMENT OR RETENTION OF
SAID ATTORNEY IS TERMINATED MARCH 24, 1987, BY THE ENTRY OF THE ORDER,
EACH SUCH PERSON, THEREFORE, IS ADVISED TO CONTACT THE GUARANTY
ASSOCIATION IN THEIR STATE, OR TO RETAIN THE ATTORNEY OF THEIR CHOICE AT
THEIR OWN EXPENSE. REASONABLE AND NECESSARY EXPENSE IN RELATION TO
PROVIDING THEIR DEFENSE MAY BE INCLUDED IN THEIR CLAIM IN THE LIQUIDATION
PROCEEDING.
9.) LIABILITY WILL BE DETERMINED AS TO ALL CLAIMS DULY PRESENTED, AND ALL
ASSETS WILL BE DISTRIBUTED IN ACCORDANCE WITH THE INSURANCE LAWS OF THE
STATE OF NEW JERSEY.
10.) ALL COMMUNICATIONS AND TRANSACTIONS RELATING TO INTEGRITY AND THE
LIQUIDATION THEREOF SHOULD BE ADDRESSED TO THE DEPUTY LIQUIDATOR, AT THE
ADDRESS SHOWN IN PARAGRAPH 5.
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