Bell v. Midland National Life Insurance Company

Plaintiff Bell was originally employed as actuary of defendant in 1921 and also served as director, vice president and later president continuously until March 1, 1947; by reason of some disagreement he was not then re-elected as president or actuary. He continued as a member of the Board of Directors until, under a written agreement with other Board members, he was elected in 1947 as .chairman of the Board, an office created for this purpose. His compensation was fixed at $3,600 per annum which included his services as consulting actuary. This action was ratified at the succeeding…