147 Ga. 283 | Ga. | 1917
E. L. Wilkinson entered into certain contracts with the Citizens National Life Insurance Company, a corporation' organized under the laws of the State of Kentucky, whereby he would become superintendent of agencies for the writing of insurance in the State of Georgia, and receive for his compensation certain percentages of premiums upon policies procured through his agency, as well as certain monthly salaries. The contracts did not specify how long they should continue, but contained this provision: “This agreement may be terminated at any time by either party hereto, but nothing herein contained shall operate as a forfeiture of commissions payable herein that may accrue after the termination of this contract.” As a result of working under the contract for several years there was a large amount of premiums payable to the company, on which Wilkinson would be entitled to certain percentages upon insurance written through his instrumentality, if the policies should be kept in life by payment of the premiums by the persons insured, and the amount of business written by Wilkinson was such as to make it an established paying enterprise. While the status was such as described above, the Citizens National Life Insurance Company, without the consent of Wilkinson, filed an application, under the laws of Kentucky, to be consolidated with another insurance company organized under the laws of that State, called the Inter-Southern Life Insurance Company, and the two companies were duly consolidated under the name of the latter company. The law of Kentucky allowing such consolidation provides, among other things: “When the agreement is signed, acknowledged, and recorded in the same manner as articles of incorporation are required to be, the separate
Judgment reversed on the mam hill of exceptions, and affirmed on the cross-hill.