MacLay v. Equitable Life Assurance Society

Citations

• 152 U.S. 499
• 14 S. Ct. 678
• 38 L. Ed. 528
• 1894 U.S. LEXIS 2137

Syllabus

<p>A guardian of a minor, to whom a policy of life insurance on the tontine dividend plan is payable, is authorized, after the completion of the ton-tine dividend period, and upon receiving its actual surrender value, to discharge the policy, without any order of court; notwithstanding the provisions of the' statutes of Mississippi, authorizing him to obtain an order of court for the sale of personal property, or for the sale or compromise of claims.</p>