Indiana Supreme Court February 13, 1884, No. 10,972 (Franklin Life Insurance v. Wallace)

Elliott, J.

— The appellant is an insurance company belonging to the class known as mutual insurance companies, and the plan of its organization, like that of all companies of that class, is that the policy-holders shall share in the dividends accruing from its business. On the 7th day of August, 1866, it issued to the appellee’s intestate, Eli A. Hall, the policy on which this action is based.