American Casualty Insurance & Security Co. v. Arrott

Citations

• 180 Pa. 1
• 36 A. 319
• 1897 Pa. LEXIS 856

Syllabus

<p>Insurance — Agent—Cancelation of policy by agent after notice of receivership.</p> <p>Where an agent of an insurance company has notice that the company is going out of business because of insolvency, and that its affairs will be placed in the hands of a receiver, he cannot use moneys of the company in his hands to cancel policies, the holders of which have not given the notice in writing required by the policies; and if he so use the money of the company, he will be liable to account for it to the receivers subsequently appointed.</p>