UNITED STATES DISTRICT COURT 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.
The opinion of the court was delivered by: Honorable Garland E. Burrell, Jr. United States District Judge
ORDER COMPELLING PAYMENT OF PREMIUM SHARE FROM I.F. INDEPENDENT FINANCIAL CORPORATION [SWA-R&G]
Date: May 18, 2009
On this day the Court considered the Receiver's Motion to Compel Payment of Premium Share from I.F. Independent Financial Corporation [SWA-R&G]. 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 I.F. Independent Financial Corporation shall, within 10 days of the date of this Order, pay the Receiver $387.24 for its share of the premiums.
It is FURTHER ORDERED that I.F. Independent Financial Corporation shall pay the Receiver its percentage share of all additional premium obligations within 10 days of the issuance of a written invoice.
It is FURTHER ORDERED that should I.F. Independent Financial Corporation fail to pay $387.24 for its share of the premiums or its percentage share of any additional premium obligations as they become due, I.F. Independent Financial Corporation's 0.5625% ownership and beneficial interest in the SWA-R&G Policy No. A10164398L will automatically be forfeited to the receivership estate and be replaced by an allowed claim for $5,000.00 in its favor.
It is FURTHER ORDERED that in the event I.F. Independent Financial Corporation's ownership and beneficial interest is forfeited to the receivership estate, then American General Life Insurance Co. is ORDERED to change its records to reflect and effectuate the transfer.
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