Sarah Shipman, Respondent v. the Protected Home Circle, Appellant

Summary

The Court held that the cooperative's by‑law amendment prohibiting payment on suicide was valid and applied to the certificate, that suicide constitutes an illegal act under the contract's express stipulation, and that a beneficiary under a cooperative certificate has no vested right to the proceeds except a refund of premiums with interest. Accordingly the judgment was affirmed, modified to award only the refund with interest.