In re Mortman

INCH, District Judge.

The bankrupt was a member of the Mutual Insurance Company. By the contracts with the company it was provided that at the end of each year the amount due for premium should be ascertained by the company after examination of payrolls, etc., and, if the premium actually paid by the member be greater than the amount owed by such member, the latter would be entitled to receive a refund in cash or by credit to his account for the difference. If however the opposite result be found the Insurance Company could charge the member’s account with the difference between the premium…