Who is in charge of Lincoln, Memorial and NPS?
Donna J. Garrett has been appointed as the Special Deputy Receiver (“SDR”) to administer all three Companies. The SDR is in charge of the Companies, and she and her staff are on-site at the company offices. On May 14, 2008, Memorial, Lincoln and NPS consented to be placed in receivership by a Texas court by signing an Agreed Order for Rehabilitation (“Agreed Order”). The Commissioner of Insurance for the State of Texas was named Rehabilitator (“Rehabilitator”) for the companies, and has now been named as Liquidator (“Liquidator”) for the Companies. The Liquidator has taken over all the powers of the Companies’ directors, officers and managers.
On May 14, 2008, Memorial, Lincoln and NPS consented to be placed in receivership by a Texas court by signing an Agreed Order for Rehabilitation (“Agreed Order”). The Commissioner of Insurance for the State of Texas was named Rehabilitator (“Rehabilitator”) for the companies, and has now been named as Liquidator (“Liquidator”) for the Companies. The Liquidator has taken over all the powers of the Companies’ directors, officers and managers. Donna J. Garrett has been appointed as the Special Deputy Receiver (“SDR”) to administer all three Companies.
