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FIRST NAT'L BK. v. MUT. TR. LIFE INS. CO.

No. 64642.

122 Ill.2d 116 (1988)

522 N.E.2d 70

FIRST NATIONAL BANK OF DECATUR, Appellant, v. MUTUAL TRUST LIFE INSURANCE COMPANY, Appellee.

Supreme Court of Illinois.

Opinion filed March 30, 1988.

Attorney(s) appearing for the Case

Darrell E. Statzer, Jr., of Monroe, Wilson, Dyar, McDonald & Moss, of Decatur, for appellant.

Robert D. Owen and Robert M. Owen, of Owen, Roberts, Parish, Castleman & Owen, Ltd., of Decatur, for appellee.

Appellate court affirmed; circuit court affirmed.

JUSTICE WARD delivered the opinion of the court:

The plaintiff, First National Bank of Decatur, filed a complaint on September 24, 1985, in the circuit court of Macon County against the defendant, Mutual Trust Life Insurance Company, to recover as the assignee on a life insurance policy that had been given as collateral to the Bank by the insured. The defendant (hereafter, Mutual) forfeited the policy on September...

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