Beale v. Connecticut Fire Ins.

Citations

• 120 F. 790
• 57 C.C.A. 158
• 1903 U.S. App. LEXIS 4535

Syllabus

<p>1. Insurance Companies — Suit by Assignee — Invalidity of Assignment under Missouri Statute.</p> <p>Under the statutes of Missouri (Rev. St. 1899, § 8099 et seq.), which place mutual insurance companies organized under Act March 21, 1895, under the supervision of the State Superintendent of Insurance, who is expressly authorized to institute proceedings for their dissolution, and the decisions of the courts of the state that companies so placed cannot make a valid general assignment of their property in case of insolvency, an assignee of such a company has no title which will support a suit in a federal court to recover assets claimed to have been wrongfully diverted by its officers.</p>