First-Columbus Nat. Bank v. D. S. Pate Lumber Co.

Smith, G, J.,

delivered the opinion of the court.

In December, 1920, the appellee, D. S. Pate Lumber Company, obtained from the National Life Insurance Company twg insarance pglicies on the life of Walter N. Holesapple, one of its exeeative officers and stockholders, payable “to the D. S. Pate Lumber Co. a corporation of Chicago-, Illinois, its successors, or assigns, or to any other beneficiary designated by the insared as therein-after provided, ’ ’ and providing that: ‘ ‘ The insared shall have the right, at any time, when this policy is in force, and with the written consent of the…