123 Iowa 102 | Iowa | 1904
On or about March 21, 1898, a life insurance society known as the “Bankers’ Guaranty Life Association” was organized at Des Moines, Iowa. Charter members were admitted without an entrance or membership too, but members admitted after the organization was completed were required to pay a membership fee of $10 each. All members were required, in addition to regular contributions to the benefit fund, to pay $3 per year in quarterly installments to an expense fund. On the date above mentioned the association, by its president, employed the plaintiff to canvass for memberships, and agreed that in consideration of such services he should receive, among other things, $1 per year on each $1,000 of insurance thus obtained by him, such payments to continue as long as the policies remained in force. As to insurance issued to charter members obtained through his agency, he was to receive $2 per year on each $1,000 for a period of five years, and thereafter at the general rate of $1 per $1,000. It is understood, however, that the association should not .be liable for the payment of these sums except as the same should be collected from the policy holders. The contract further pro-. vided for its termination upon certain contingencies, but that such termination should not have the effect to deprive plaintiff of his right to commissions upon the renewals of the insurance procured by him during the period of his agency. By another clause it was agreed that no transfer of management or change of name of the association, or reinsurance by any other concern, should affect plaintiff’s right to receive the stipulated income from the renewals of said policies. Under this contract plaintiff entered the service of the association, and continued therein until June, 1899, when said association was absorbed by the defendant as hereinafter mentioned. As the result of ser
We must not overlook the fact, already suggested,. that to hold defendant liable for the' payment of plaintiff’s claim does not in reality add a single. dollar to the burden of its original members. Defendant is required to account only for the renewal payments made to the expense fund by the membership taken over from the Union Association. If that is honestly done, the money contributed to the expense fund by the original membership of the defendant is left undiminished and undisturbed. To compel such an accounting encroaches upon no fund held in trust for the original members. Defendant having accepted the memberships trans
It is contended, however, that defendant did submit an accounting — a detailed list of all the members of the Union Association who continued membership in the defendant, with an itemized statement of the quarterly renewal collections made therefrom up to the d.ate of trial. Whether this accounting was offered in evidence is disputed, and the matter has been made the subject of proceedings by defendant in the trial court for a correction of the record. The correction was ordered, making the record show that the evidence was in fact introduced, from which order plaintiff has appealed. Without discussing the respective claims upon this cross-appeal, we will say that we find no error in this order, and think the same must be affirmed. Treating this accounting as in evidence, the judgment must be materially reduced. It is true that the showing made in appellant’s original ab
We conclude, therefore, that the plaintiff’s recovery must be reduced to the said sum of $677.57, as of the date of the judgment entry, and that, as thus modified, the judgment of the district court must be affirmed. The costs of this court are apportioned, and ordered taxed one-half to the appellant and one-half to the appellee. — Modified and AFFIRMED.