Chapman v. Lipscomb-Ellis Co.

Atkinson, Presiding Justice.

It is seen from the foregoing statement that the sole question to be decided is whether or not a policy of life insurance, valid when issued, may be collected by the named beneficiary, where during the life of the policy, and after the payment of several annual premiums by the corporate beneficiary, the business relationship which originally and for some years gave rise to the insurable interest was terminated. In other words, is it essential that the insurable interest required by the Code, § 56-901, continue until the death of the person whose life is in sured?…