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Lincoln Memorial Life Insurance Company (“LML”), Memorial Service Life Insurance Company (“MSL”) and National Prearranged Services, Inc. (NPS) have been placed into Liquidation. On September 22, 2008, an Order Appointing Liquidator, Order Approving Liquidation Plan and Permanent Injunction were signed by the Texas Receivership Court.
On May 14, 2008, the Commissioner of Insurance for the State of Texas has appointed Donna J. Garrett as the Special Deputy Receiver (“SDR”) of all three companies. Ms. Garrett will be responsible for the management of the companies and their operations.
The Liquidation Order states that LML, MSL and NPS are insolvent and that further attempts to rehabilitate the companies would be futile or would increase the risk of loss to creditors, policyholders and the public.
Under the Liquidation Plan, participating guaranty associations will cover the insurance policy death benefits issued by LML and MSL. The majority of the affected insurance policies are related to prepaid funeral contracts purchased by consumers through NPS.
The Liquidation Plan will not go into effect until the Order is final, which under Texas law takes 30 days or October 23, 2008.
A complete copy of the SDR Application for Liquidation Plan and the Order is available for review under the “Legal Docs” section of this website.
At this time, the Receivership Court has not set a deadline to file claims. Creditors will be notified if, and when the date is set.
Copies of all relevant court documents filed in the Liquidation case will be posted to this website for review. Answers to Frequently Asked Questions can be located under the “FAQ” tab. Links to the relevant regulatory agencies in your state may be accessed under the “Links” tab. |
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**IMPORTANT INFORMATION** |
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Please be advised that the NPS
fax number 314-726-5760 is no longer operational due to the closure of the St. Louis
office. At this time all faxes should be directed to the offices of Lincoln
Memorial and Memorial Service at 512-328-0072. Thank you for your cooperation
in this matter. |
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