State v. National Mutual Benefit Ass'n

Court of Appeals of Texas

State v. National Mutual Benefit Ass'n

51 S.W.2d 415, 1932 Tex. App. LEXIS 598

CourtCourt of Appeals of Texas

DecidedApril 20, 1932

DocketNo. 7715.

StatusPublished

This text of 51 S.W.2d 415 (State v. National Mutual Benefit Ass'n) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

State v. National Mutual Benefit Ass'n, 51 S.W.2d 415, 1932 Tex. App. LEXIS 598 (Tex. Ct. App. 1932).

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Opinion

McClendon, c. j.

This cause is companion to No. 7720, State v. Texas Mutual Life Insurance Company of *416 Texas et al. (Tex. Civ. App.) 51 S.W.(2d) 405, this day decided. Appellee association was chartered September 1, 1905, and the certificates isshed by it are in only one denomination, f5,000. Each certificate holder is required to pay annually $5.50 for operating expenses, and $5.50 “for a contingent allotment fund.” Additionally, $1 of each death, old-age, and permanent disability assessment may be used for operating expenses. Attached to the agreed statement of facts is the certificate of a certified public accountant to an audit covering the period “1, 1930 to September 30, 1930.” This audit, however, is limited to -receipts and disbursements “on account of the Death Assessment Fund.” It shows total receipts $143,077.15, deductions for expenses “as per policy conditions” $12,030.95, “Legal and other Expenses, etc., on Death Claims” $2,180.50, death claims paid $132,755.82; thus leaving a deficit (disbursements over receipts) of $3,890.12. It is manifest that this audit only shows the total amount of expenses collected from this one.source of income (death assessments) during this brief period. There is no showing as to what these “Expenses” consisted in, nor is there any showing as to how the large sums collected from other above-named sources were disbursed. Except as above stated, there is no essential difference between the record in this cause and that in cause No. 7720, and the holdings in our opinion in that cause are controlling here.

The trial court’s judgment is reversed, and the cause remanded.

Reversed and remanded.

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McClendon, c. j.

This cause is companion to No. 7720, State v. Texas Mutual Life Insurance Company of *416 Texas et al. (Tex. Civ. App.) 51 S.W.(2d) 405, this day decided. Appellee association was chartered September 1, 1905, and the certificates isshed by it are in only one denomination, f5,000. Each certificate holder is required to pay annually $5.50 for operating expenses, and $5.50 “for a contingent allotment fund.” Additionally, $1 of each death, old-age, and permanent disability assessment may be used for operating expenses. Attached to the agreed statement of facts is the certificate of a certified public accountant to an audit covering the period “1, 1930 to September 30, 1930.” This audit, however, is limited to -receipts and disbursements “on account of the Death Assessment Fund.” It shows total receipts $143,077.15, deductions for expenses “as per policy conditions” $12,030.95, “Legal and other Expenses, etc., on Death Claims” $2,180.50, death claims paid $132,755.82; thus leaving a deficit (disbursements over receipts) of $3,890.12. It is manifest that this audit only shows the total amount of expenses collected from this one.source of income (death assessments) during this brief period. There is no showing as to what these “Expenses” consisted in, nor is there any showing as to how the large sums collected from other above-named sources were disbursed. Except as above stated, there is no essential difference between the record in this cause and that in cause No. 7720, and the holdings in our opinion in that cause are controlling here.

The trial court’s judgment is reversed, and the cause remanded.

Reversed and remanded.

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51 S.W.2d 415, 1932 Tex. App. LEXIS 598, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-national-mutual-benefit-assn-texapp-1932.

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