National Aid Life of Oklahoma City v. Adams

FUNDERBURK, Justice.

This suit was brought by five policyholders (one, a married woman joined by her husband) against National Aid Life of Oklahoma City, Oklahoma (an insurance company) to recover premiums paid by each to Mutual Life Insurance Company of Breckenridge, Texas, and (in small part) to said defendant. It was alleged in substance that said defendant and said Mutual Life Insurance Company of Breckenridge, on June 20, 1938, by written contract, effected a merger of the two .companies ; that such merger was without authority and not binding upon the plaintiffs; that after the merger…