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AM. DIVER. MUT. LIFE v. TEX. ST. BD. OF INS.

No. 13590.

631 S.W.2d 805 (1982)

AMERICAN DIVERSIFIED MUTUAL LIFE INSURANCE COMPANY, Appellant, v. TEXAS STATE BOARD OF INSURANCE, et al., Appellees.

Court of Appeals of Texas, Austin.

Rehearing Denied May 5, 1982.

Attorney(s) appearing for the Case

Guy C. Fisher, Austin, for appellant.

Mark White, Atty. Gen., Charmaine J. Rhodes, Asst. Atty. Gen., Austin, for appellees.

PHILLIPS, Chief Justice.

The question for decision is the validity of an order of the Texas State Board of Insurance denying approval of appellant's proposed life insurance policy form in which payment of premiums and benefits were to be made in a foreign currency.

The Board found the proposed policy to be in violation of the laws and public policy of the State of Texas.

The trial court affirmed the Board's order denying approval of the proposed policy...

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