First Nat. Bank v. New York Life Ins.

REEVES, District Judge.

Purely legal questions are raised on the motion to dismiss. Heretofore the plaintiff in its trust capacity received the assignment of an insurance policy issued by the defendant to one Harold Oppenheimer. The policy was dated December 12, 1919, and, subject to unimportant changes, continued in effect by reason of the payment of premiums until a premium became due on December 12, 1942. Such premium was not paid. The insured, however, elected to utilize one of the several settlement options under the policy. He expressed his election in writing to the defendant and…