Bank of Minden v. Clement - 256 U.S. 126 (1921)

U.S. Supreme Court

Bank of Minden v. Clement, 256 U.S. 126 (1921)

Bank of Minden v. Clement

No. 238

Submitted March 21, 1921

Decided April 11, 1921

256 U.S. 126

Syllabus

1. A life insurance policy payable to the executors, administrators, or assigns of the insured is his property and subject to the claims of his creditors. P. 256 U. S. 128.

2. A state law exempting policies so payable and their avails from the debts of the insured is invalid under Art. I, § 10, of the Constitution, as applied to his debt under a promissory note antedating the law and to policies also antedating it though later than the note. P. 256 U. S. 129. Sturges v. Crowninshield, 4 Wheat. 122.

146 La. 385 reversed.

Page 256 U. S. 127

The case is stated in the opinion.