Commonwealth v. Whitelaw

Opinion op the Court by

Van Sant, Commissioner

—Affirming.

Appellee, Arthur K. Whitelaw, is a former Vice-President of the Standard Oil Company of Kentucky. By arrangement with the Metropolitan Life Insurance Company, the Oil Company procured an annuity for all of its employees. Under the plan adopted, each employee pays a portion of the premium each month, and the Oil Company contributes the balance. It so happened that Mr. "Whitelaw retired and became entitled to his annuity payments immediately upon procuring the policy, and the premium for his annuity was paid in a lump sum. By the terms of…