Robro Realty Corp. v. Lazarus

Invoking section 55-a of the Insurance Law, each of these judgment debtors contends that dividends, declared in connection with policies of life insurance, are not to be affected by third-party proceedings, supplementary to judgment, instituted, in each instance, by a judgment creditor of the insured.

The judgment creditor asserts that third-party orders and subpoenas were served prior to any election, by either of the judgment debtors, to have dividends applied on premiums. Assuming that to be true, it seems immaterial on these applications, for in no instance here was any dividend taken from…