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NAT. INTERSTATE LIFE INS. CO. v. THOMAS

No. 52033.

630 P.2d 779 (1981)

NATIONAL INTERSTATE LIFE INSURANCE COMPANY, a Corporation, and Oklahoma State Bank of Konawa, Oklahoma, a State Banking Associate, Appellants, v. Hugh Vernon THOMAS and Royce Thomas, Co-Administrators of the Estate of Hugh Max Thomas, Deceased, Appellees.

Supreme Court of Oklahoma.

June 16, 1981.

Attorney(s) appearing for the Case

Gary E. Payne, Atoka, for appellants.

John B. Axton and Bill Moore, Coalgate, for appellees.

DOOLIN, Justice:

Was a credit life insurance policy automatically renewed when the bank note it protected was renewed by the parties, even though no payment designated as "premium" was paid? We answer in the negative.

Hugh Max Thomas (Thomas) negotiated a single payment note from Oklahoma State Bank of Konawa (Bank) on January 22, 1975, due in six months. A credit term life...

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