Chetlain v. Republic Life Insurance

The Republic Life Insurance Company was incorporated by an act of the Greneral Assembly of this State, and became organized, and entered upon the business for which it was created. Appellant’s intestate became a subscriber for 500 shares of $100 each of its capital stock; and as a payment of twenty per cent thereon the company permitted him to execute his notes therefor, drawing interest, payable five years after date, and he executed a deed of trust on property in the city to secure the payment of priiicipal and interest. Walker, in his life-time, paid $400 of interest on this indebtedness.…