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McALLEN STATE BANK v. TEXAS BANK & TRUST COMPANY

No. B-785.

433 S.W.2d 167 (1968)

McALLEN STATE BANK, Petitioner, v. TEXAS BANK & TRUST COMPANY, Trustee, Respondent.

Supreme Court of Texas.

Rehearing Denied October 2, 1968.

Attorney(s) appearing for the Case

Strasburger, Price, Kelton, Martin & Unis, Wilson Herndon, Dallas, Kelley, Looney, McLean & Littleton, Ralph L. Alexander and D. F. Martinak, Edinburg, for petitioner.

Berman & Fichtner, Jay S. Fichtner, Dallas, for respondent.

SMITH, Justice.

Republic National Bank of Dallas, as trustee of a life insurance trust set up by R. D. Welch, Jr., instituted this suit for the proceeds of an insurance policy on the life of Welch against the insurer and against McAllen State Bank. After filing suit, Republic National Bank resigned as trustee of the life insurance trust; Texas Bank & Trust Co. was substituted for it as trustee and as plaintiff in this law suit. Texas Bank & Trust Co., hereinafter...

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