Southern Farm Bureau Life Insurance v. McClellan

This is an appeal by Adnette T. McClellan from the order of the United *826States District Court which determined that certain moneys paid into the registry of that court should be distributed to Robb, Corbay & Company, as successor in interest to Smith, Kirkpatrick & Company, Inc. At issue was the ownership of the proceeds of two life insurance policies issued by Southern Farm Bureau Life Insurance Company.

On September 30, 1958, Smith, Kirkpatrick & Company, Inc., entered into an agreement with Ammon McClellan Landscaping, Inc., to advance the Landscaping Company a line of credit to finance…