NUNNELEY v. FARMERS INS. EXCHANGE

No. 49313.

564 P.2d 231 (1977)

Ronald NUNNELEY, Appellant, v. FARMERS INSURANCE EXCHANGE, A Reciprocal or Interinsurance Exchange, et al., Appellees.

Supreme Court of Oklahoma.

May 10, 1977.


Attorney(s) appearing for the Case

Gatra Marvin, Ungerman, Grabel & Ungerman, Tulsa, for appellees.

Frank R. Hickman, Tulsa, for appellant.


DOOLIN, Justice.

Appellant Nunneley entered into an agreement with appellee Farmers Insurance Exchange (Company) whereby he was to act as an agent for Company selling and renewing insurance policies. Two written agreements executed in 1968 included the following provisions:

"II. The COMPANIES agree that subject to cancellation, as hereinafter provided, they will pay to the AGENT, as a loan, such amount as may be...

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