Atlantic Joint Stock Land Bank v. Foster

The insurance policy, in the respects here considered, conforms to the requirements of the North Carolina act on the subject establishing a standard fire insurance policy. Michie’s Code, section 6437. Where loss or damage is made payable in whole or in part to the mortgagee, it is provided: “Upon failure of the insured to render proof of loss, such mortgagee shall, as if named as insured hereunder, but within sixty days after such failure, render proof of loss and be subject to the provisions hereof as to appraisal and time of payment.” As to the original insured, it is provided that “the…