Kindleberger v. Lincoln Nat. Bank of Washington

I disagree with my brethren, and because the case is important and of first impression, I think I should indicate the reasons for my view. I do not think that the provisions of the statute are in conflict with those of the policies.

The genesis of this statute was in the controversy over the proceeds of life insurance policies in cases of bankruptcy. The Bankruptcy Act provides for the allowance of such exemptions as are prescribed by state laws,1 and also provides, subject to those general exemptions, that when a bankrupt has an insurance policy which has a cash-surrender value payable to…