New England Merchants National Bank of Boston v. Herron

MARDEN, Justice.

On report, upon agreed statement of facts and exhibit.

The defendant, after completion of more than twenty years of active service as a member of the Maine State Police, was retired from the service in good standing on January 10, 1959. Upon retirement he became entitled to pension benefits under the provisions of Sections 22 and 23 of Chapter 15 of the Revised Statutes of 1954 1 (now 25 M.R.S.A. -§ 1591 et seq.) and received them.

On June 10, 1963, for present consideration, he assigned in writing to the plaintiff bank his future benefits as security for a loan. This assignment…