Stark v. Illinois Bankers Life Ass'n

June 29, 1912, defendant issued a policy of- insurance, called a certificate of membership, upon the life of Virgil L. Stark of Flint, in the sum of $5,000. Plaintiffs were named as beneficiaries. The policy contained the usual forfeiture clause for nonpayment of assessments. The Industrial Savings Bank of Flint was the depository of defendant and its agent in collecting assessments. The testimony of defendant’s secretary as to the plan used by defendant to collect assessments established this fact. Mr. Stark was a depositor of the bank and at the time of the transaction here involved had in…