Parramore v. Williams

Head, Justice.

A policy of life insurance is a chose in action and may be assigned by the insured as security for a debt, under Code §§ 28-301, 56-903, and 85-1803, and generally the effect of such an assignment is to vest legal title to the policy in the assignee to the amount of the debt secured. Exchange Bank of Macon v. Loh, 104 Ga. 446 (31 S. E. 459); Morris v. Georgia Loan, Savings &c. Co., 109 Ga. 12 (34 S. E. 378); Sprouse v. Skinner, 155 Ga. 119 (116 S. E. 606); Baldwin v. Atlanta Joint Stock Land Bank, 189 Ga. 607, 609 (7 S. E. 2d 178); Chapman v. Lipscomb-Ellis Co., 194 Ga. 640, 643…