State v. Phoenix Mutual Life Insurance

Hatcher, Judge:

This suit involves the right of the State of West Virginia to escheat the proceeds of an insurance policy as derelict and without a rightful owner (bona vacantia).

The State by T. C. Townsend, tax commissioner, filed bills (original and amended) which contain the following allegations : In April, 1926, Albert F. 0 ’Dell secured an insurance policy on his life for the sum of $5,000 from the defendant, the Phcenix Mutual Life Insurance Company; the beneficiary in the policy was O’Dell’s wife, Elsie, with the right reserved to him to change the beneficiary; in September, 1926,…