GEN. STAR INDEM. CO. v. PIKE COUNTY NAT. BANK

No. 94-CA-01169-SCT.

706 So.2d 227 (1997)

GENERAL STAR INDEMNITY COMPANY v. PIKE COUNTY NATIONAL BANK.

Supreme Court of Mississippi.

Rehearing Denied February 26, 1998.


Attorney(s) appearing for the Case

Luther T. Munford, William C. Brabec, James W. Craig, Phelps Dunbar, Jackson; S.T. Rayburn, Rayburn & Pierce, Oxford; Martha Bost Stegall, Mitchell McNutt Threadgill Smith & Sams, Tupelo, for Appellant.

William K. Duke, Grady F. Tollison, Jr., E. Farish Percy, Tollison Law Firm, Oxford, for Appellee.

Before PRATHER, P.J., and BANKS and SMITH, JJ.


BANKS, Justice, for the Court:

¶ 1. Today, we affirm a decision imposing an equitable lien in favor of a bank-mortgagee on proceeds from a fire insurance policy. We hold that Miss. Code Ann. § 83-13-9 (Rev. 1991) protects a mortgagee by requiring the mortgagor and the insurer to attach a mortgagee loss payable clause in favor of the mortgagee to a fire insurance policy taken on a building subject to a mortgage. The bank is such a mortgagee, and entitled...

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