Oil Well Supply Co. v. New York Life Ins. Co.

In the majority opinion it is said: “No portion of the surplus distributed by the company during the year 1943 was allocated to these policies. However, it was admitted, if the policies had been entitled to the 1943 dividend, such dividend would have been sufficient as to each policy to have provided 'extended insurance to a date subsequent to the insured’s death.”

The policies in question, I maintain, were entitled to be credited with the mentioned dividend.

The dividend resulted from defendant’s divisible surplus as of December 31, 1942 (see resolution of December 16; 1942, copied in majority…