West End Sav. Bank v. Goodwin

The claim made by appellant to the proceeds of the policy on the life of A. W. Bell, dated July 8, 1926, was that he was then the president, a stockholder, and director of appellant bank, and that the directors caused the issuance of said insurance policy with it named as the beneficiary; that it paid all tiie premiums as they fell due until the death of insured. Dr. Bell, the insured, resigned as president of the bank on February 20, 1928. Thereafter the insurance agent who wrote the policy voluntarily advised the cashier of the bank that the resignation by Dr. Bell as president affected the…