Hyde v. . Lynde
New York Court of Appeals
This was an action brought by Hyde, as receiver of the Chenango County Mutual Insurance Company, against Lynde, upon a deposit note as follows: “ $83,20. For value received in policy Ho. 3471, dated the 3d day of June, 1840, issued by the Chenango County Mutual Insurant# Company, I promise to pay the said company, or their treasurer for the time being, the sum of eighty-three dollars and twenty cents, in such portions and at such time or times as the directors of said…
Read the full summary
This was an action brought by Hyde, as receiver of the Chenango County Mutual Insurance Company, against Lynde, upon a deposit note as follows: “ $83,20. For value received in policy Ho. 3471, dated the 3d day of June, 1840, issued by the Chenango County Mutual Insurant# Company, I promise to pay the said company, or their treasurer for the time being, the sum of eighty-three dollars and twenty cents, in such portions and at such time or times as the directors of said company may, agreeably to their act of incorporation require. Ira Lynde.” By the charter of the Chenango Mutual Insurance…
1Opinion of the Court
Bronson, Ch. J.
A person who insures in the Chenango Company becomes by that act a member of the corporation. When he alienates the property insured, he may surrender the policy, and is thereupon entitled to his deposit note, upon the payment of his proportion of all losses and expenses that have accrued prior to such surrender; and he then ceases to be a member of the corporation. (Stat. 1836, ch. 238, and p. 43, §§ 2, 7. And see Neely v. Onondaga Company, 7 Hill, 49.) Whether any losses or expenses have accrued prior to that time which have not been satisfied, and which the company has not…
2Cited by17 opinions
- Corcoran v. Frank B. Hall & Co.Appellate Division of the Supreme Court of the State of New York · 1989
- Insurance Commissioner v. People's Fire InsuranceSupreme Court of New Hampshire · 1894
- Buck v. RossSouth Dakota Supreme Court · 1932
- Fouche v. BrowerSupreme Court of Georgia · 1885
- Akers v. HiteSupreme Court of Pennsylvania · 1880
12 more not listed; retrieve them via the Exa API.