American Mutual Farm & Dwelling House Fire Insurance v. Kvanbeck

Defendant appeals from an order denying his motion for a new trial.

Action by plaintiff, a Minnesota corporation, to recover f600 and interest, the balance on an unpaid subscription made by defendant to a guaranty fund. The jury returned a verdict in favor of plaintiff for the full amount claimed. .

Plaintiff was organized in January, 1925, and licensed to issue policies on October 14,1925. On August 29, 1925, by the unanimous vote of its board of directors, a resolution was adopted creating a guaranty fund. This resolution recited that it appeared advisable and in the best interests, and for…