LEVINE v. BANKERS LIFE CO.


28 A.D.2d 529 (1967)

Albert Levine et al., as Trustees of The Modern Deb Employees Pension Trust Agreement, Respondents-Appellants, v. Bankers Life Company, Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

May 25, 1967


Order and judgment granting plaintiffs' motion for summary judgment, unanimously modified, on the law, to the extent of reducing the judgment to the sum of $9,822.31, with interest, costs and disbursements, and otherwise affirmed, without costs and without disbursements.

Article V, Section 2, of the contract plainly requires the deduction of the cessation charge before applying the 95% to the contractholder fund. It is conceded that the proper deduction in this case...

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