POLICY FUNDING CORP. v. KINGS COUNTY LAFAYETTE TRUST CO.


40 A.D.2d 525 (1972)

Policy Funding Corporation, Respondent, v. Kings County Lafayette Trust Company, Appellant

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

July 5, 1972


Order reversed, on the law, with $10 costs and disbursements, and motion granted.

Plaintiff is in the business of financing insurance premiums. It receives from an insurance broker or agent the down payment, made by each assured who obtains such financing from plaintiff, on the assured's policy, as well as his signed finance agreement whereby he agrees to pay the premium to plaintiff as well as a finance charge. Plaintiff then remits the entire premium to the broker...

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