Irvin Agency, Inc. v. Hess

Defendant is the treasurer of a voluntary association known as the New York Fire Insurance Exchange which was organized in 1899 for the purpose of stabilizing conditions in the fire insurance business. Its present membership consists of some seventy-two insurance companies and fifty-nine agencies. Upon joining the exchange, each member must give an express promise to comply with the rates, rules and regulations as promulgated by it.

Plaintiff, which conducts an insurance agency in the boroughs of Brooklyn and Manhattan, was elected to membership in the exchange on October 14, 1931, after…