McCLOUD, Chief Justice.
At issue in the trial court was the validity of an assignment of the right to receive a portion of the "death proceeds" payable under three "term" life insurance policies. The total amount payable under the policies upon death of the insured was $12,000,000. Shearn Moody, Jr., the insured, the Receiver of Empire Life Insurance Company of America, the owner and beneficiary of the policies, and Protective Life Insurance Company, the assignee...
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