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NEW YORK LIFE INS. CO. v. FEDERAL NAT. BANK, ETC.

No. 2857.

143 F.2d 69 (1944)

NEW YORK LIFE INS. CO. v. FEDERAL NAT. BANK OF SHAWNEE, OKL.

Circuit Court of Appeals, Tenth Circuit.

Rehearing Denied July 3, 1944.

Attorney(s) appearing for the Case

V. P. Crowe, of Oklahoma City, Okl. (Ferdinand H. Pease, of New York City, and Embry, Johnson, Crowe, Tolbert & Shelton, of Oklahoma City, Okl., on the brief), for appellant.

John L. Goode, of Shawnee, Okl., and John F. Sharp, of Oklahoma City, Okl. (Mark Goode, of Shawnee, Okl., on the brief), for appellee.

Before PHILLIPS and HUXMAN, Circuit Judges, and RICE, District Judge.

PHILLIPS, Circuit Judge.

On February 10, 1919, the New York Life Insurance Company1 issued a policy of ordinary life insurance on the life of Patrick H. Adams2 in the sum of $25,000. The first annual premium was paid thereon. On June 25, 1919, it was converted into two policies, one for $5,000 and one for $20,000. On December 20, 1924, the insured assigned the $20,000 policy3 to...

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