Gallaher v. American-Amicable Life Ins. Co.

OPINION

WILSON, Justice.

Appellant Gallaher brought this declaratory judgment action against the named beneficiary in a life insurance policy and the insurer, alleging he is entitled to the proceeds of the policy by an assignment to him executed by the deceased insured. The insurer deposited the proceeds in the registry as a stakeholder by interpleader. After a non-jury trial in which findings and conclusions were filed, judgment was rendered that Gallaher take nothing, and the named beneficiary recover the proceeds.

Insured executed an “assignment of life insurance policy as collateral” to…