Lewis & Dalin, Inc. v. E. H. Clarke Lumber Co.

LUSK, C. J. †

The question on this appeal is whether an insurance agent who, prior to the appointment of receivers of a corporation, advanced premiums on policies of insurance sold by him to the corporation is entitled to a preference over other unsecured creditors, in the amount of such advances for which he had not been reimbursed by the corporation at the time such receivers were appointed.

On March 20, 1945, the Circuit Court for Linn County appointed Carl D. Diebold and Elery Gr. Fay receivers of E. H. Clarke Lumber Company, a corporation. The receivers were not authorized to carry on the…