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

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Bank of Minden v. Clement

No. 238

Submitted March 21, 1921
Decided April 11, 1921
256 U.S. 126

ERROR TO THE SUPREME COURT OF

THE STATE OF LOUISIANA

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. 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. 129. Sturges v. Crowninshield, 4 Wheat. 122.

146 La. 385 reversed.

The case is stated in the opinion.