Williams v. Knox.

CODY, Justice.

This was a suit by appellee, as receiver of the Southern Underwriters, a reciprocal insurance exchange organized under Chanter 20, Title 78, Revised Civil Statutes, Vernon’s Ann.Civ.St. art. 5024 et seq., to recover the sum of $312, alleged to be owing by appellant by virtue of his having been a policyholder of said insurance exchange.

In his petition appellee alleged in substance : that prior to December 31, 1936, on up through July 20, 1938, the Southern Underwriters was an insurance exchange in which the subscribers were both insurers and insured, effecting such insurance…