American Indemnity Co. v. Southern Missionary College

The American Indemnity Company issued a policy of insurance to the ¡Southern Missionary College in the maximum amount of $4,000, indemnifying it against loss caused by safe-burglary or robbery occurring on the premises of the insured. The policy was issued under date of December 20,1950, for a period of 3 years. Three endorsements were later issued, but they • are not material to a determination of the issue involved in this controversy.

The Southern Missionary College, located at College-dale, Hamilton County, Tennessee, was chartered as “an eleemosynary corporation organized under the laws…