Insurance — Bonds — Rates — Challenge in action for premium — City treasurer's bond — Resolution approving bond but directing payment of lower premium.
In an action by plaintiffs to recover from defendant city the premium on a bond purchased from plaintiffs by the city treasurer, in which it appeared that the bond was valid and that the premium charge for it was in conformity with the rates filed by the insurer and approved by the insurance commission; that the city council by resolution had approved the bond but directed that the premium paid thereon should be in a specified reduced amount; and that the court below, holding that defendant could not in the instant proceeding contest the premium rates involved, entered an order sustaining plaintiffs' demurrer to defendant's answer; it was Held that the order of the court below should be affirmed.
Argued November 14, 1958.
OPINION PER CURIAM, December 9, 1958:
The judgment of the court below is affirmed on the opinion of President Judge LAMOREE, as reported in 14 Pa. D. C. 2d 719.