Piedmont & Arlington Life Insurance v. Wallin

Citations

• 58 Miss. 1

Syllabus

<p>Insurance. Foreign Company. Deposit in treasury. For whose benefit. Statute construed.</p> <p>The fund deposited in the State treasury hy a foreign insurance company, under the provisions of art. 8, chap. 55, of the Code of 1871, is intended as a security to protect policies issued to citizens of this State by agents appointed in the mode prescribed by that statute, and doing business in this State. And if a citizen of this State take out a policy in such company from an agent residing and doing business out of the State, he has no claim upon the deposit in the treasury of this State, but is regarded as having elected to look rather to the general assets of the company than to the special fund here.</p>