IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF CALIFORNIA SACRAMENTO DIVISION
May 21, 2009
SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF,
SECURE INVESTMENT SERVICES, INC., AMERICAN FINANCIAL SERVICES, INC., LYNDON GROUP, INC., DONALD F. NEUHAUS, AND KIMBERLY A. SNOWDEN, DEFENDANTS.
ORDER COMPELLING PAYMENT OF PREMIUM SHARE FROM CLIFFORD A. PALM, JR. [BAU-R&L]
Date: May 18, 2009
Time: 9:00 a.m.
On this day the Court considered the Receiver's Motion to Compel Payment of Premium Share from Clifford A. Palm, Jr. [BAU-R&L]. Having carefully considered the Motion and the pleadings and papers on file in this case, the Court is of the opinion, and so finds, that the Motion should be granted. Accordingly,
It is ORDERED that Clifford A. Palm, Jr. shall, within 10 days of the date of this Order, pay the Receiver $201.65 for his share of the premiums.
It is FURTHER ORDERED that Clifford A. Palm, Jr. shall pay the Receiver his percentage share of all additional premium obligations within 10 days of the issuance of a written invoice.
It is FURTHER ORDERED that should Clifford A. Palm, Jr. fail to pay $201.65 for his share of the premiums or his percentage share of any additional premium obligations as they become due, Clifford A. Palm, Jr.'s 0.31262944% ownership and beneficial interest in the BAUR&L Policy will automatically be forfeited to the receivership estate and be replaced by an allowed claim for $1,000.00 in his favor.
It is FURTHER ORDERED that in the event Clifford A. Palm, Jr.'s ownership and beneficial interest is forfeited to the receivership estate, then Pacific Life Insurance Company is ORDERED to change its records to reflect and effectuate the transfer.
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