In re Globe Mutual Benefit Ass'n
New York Supreme Court
Appeal from special term, New York county. Petition by William A. Poste, deputy attorney general of New York, for an order restraining the Globe Mutual Benefit Association from carrying on business, and for other relief. ' Order granted restraining the company from continuing to insure minors. The company appeals.
1Opinion of the CourtO’Brien, J.
The sole question presented by this appeal is whether a cooperative insurance company, incorporated under chapter 175 of the Laws of 1883 of the state, and which has adopted the by-laws adopted by this company, can insure the lives of minors. Under the by-laws adopted the losses are not to be paid from assessments levied upon the members, but from weekly dues, collected from policy-holders. Though great stress is placed upon the difference in the mode of collecting the moneys necessary to meet death losses, between the payment of the weekly dues, as here, and the levying of assessments from…
2Cases cited1 opinion
- Chicago Mutual Life Indemnity Ass'n v. HuntIllinois Supreme Court · 1889
3Cited by4 opinions
- Railway Mail Association v. WeirOhio Court of Appeals · 1927
- Smith v. BownNew York Supreme Court · 1894
- French v. Society of Select GuardiansNew York Supreme Court · 1898
- State v. International Fraternal AllianceBaltimore City Superior Court · 1897