Later courts went against this
Disapproved in part by Jones v. Mutual Life Ins. Co., 216 Ala. 437 (1927)
Co. v. Lazenby, 16 Ala. App. 549, 80 So. 25, is based on such a distinction, viz. that the policy was merely “pledged” and not “assigned,” it is unsound and must be disapproved.
The opinion
On Rehearing.
Opinion amplified,-and application for rehearing overruled.