Porter v. Wright
Supreme Court of Georgia
Intervention. Before Judge Bell. ’Fulton superior court. August 19, 1915. T. K. Bowles, a policyholder, for ‘himself and other policyholders, filed a petition against the American Life and Annuity Company, a mutual assessment insurance company, for the winding up of the company’s business, on the ground of insolvency.
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Intervention. Before Judge Bell. ’Fulton superior court. August 19, 1915. T. K. Bowles, a policyholder, for ‘himself and other policyholders, filed a petition against the American Life and Annuity Company, a mutual assessment insurance company, for the winding up of the company’s business, on the ground of insolvency. On-the same day N. G. Parker and Horace Sandiford, alleging themselves to be creditors of the company by virtue of the ownership of certain income certificates, in their own behalf and in behalf ; of other holders of income certificates, filed a petition against the company for…
1Opinion of the CourtEvans, P. J.
(After stating the foregoing facts.)
1. The intervenor’s relation to the company is that of a holder of an income certificate. The form of the certificate is as follows: “This certifies that J. B. Porter is the owner of twenty certificates, ef the par value of $100 each, of the American Life & Annuity Company, in consideration whereof the holder of this certificate is ’guaranteed to receive, out of the expense fund of said company, a dividend of not less than eight pe£ Cent, per annum upon said ■amount, to be paid semi-annually on the 15th day of July and January in each year hereafter. Any…
2Cases cited3 opinions
- Dolvin v. American Harrow Co.Supreme Court of Georgia · 1906
- Whitehurst v. MasonSupreme Court of Georgia · 1913
- Lockridge v. State Mutual Life InsuranceSupreme Court of Georgia · 1914