Southtrust Bank of Alabama, National Ass'n v. Alabama Life & Disability Insurance Guaranty Ass'n

KENNEDY, Justice.

SouthTrust Bank of Alabama (hereinafter “SouthTrust”), filed an action against the Alabama Life and Disability Insurance Guaranty Association (hereinafter “ALDI-GA”), seeking indemnification from ALDI-GA for the failure of an insurance company to pay the proceeds of insurance policies on five separate trusts. The trial court entered a summary judgment for ALDIGA. We affirm.

In 1962, George L. Jones was employed jointly as the executive director of the Alabama Tire Dealers and Retreaders Association and the Georgia Tire Dealers and Re-*1303treaders Association. In 1967, Jones was…