Texas Life Ins. Co. v. Valley View Nat. Bank

On May 16, 1930, the Texas Life Insurance Company, appellant here, filed a petition and bill of interpleader, alleging that it was a life •insurance company, and that on April 18, 1922, it had issued to one Charles O. Ussery, of Valley View, Tex., its policy of insurance in the amount of $3,000; that said Charles O. Ussery designated his estate as the beneficiary in said policy, and that said policy was later transferred by said Ussery to the- First Guaranty State Bank of Valley View as collateral ; that said First Guaranty State Bank of Valley View later ceased to do business, and…