EMBRY, Justice.
Edward Hilgeman appeals from a judgment which disallowed his claim against the assets of Empire Life Insurance Company, a corporation in receivership. We reverse.
In 1963 Hilgeman purchased a "security charter contract" from National Insurance Company of America. Two years later a majority of the voting stock of National was purchased by Empire. In 1969 Hilgeman filed a class action in U.S. District Court for the Northern District of Alabama...
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