Winger v. Chicago City Bank & Trust Co.

Illinois Bankers Life Association (hereinafter referred to as “association”) was organized under.the laws of this State as a mutual assessment life insurance company, in the year 1897. It proceeded to do an insurance business in this State and in other States until the year 1929, when all of its assets were transferred to the Illinois Bankers Life Assurance Company (hereinafter referred to as “company”) under the terms of a contract of reinsurance bearing date November 19,1929.

At the time of the making of the contract of reinsurance, the directors and oEcers of the association were William H.…