EXEMPTIONS, § 15 — insurance, cash surrender value. In creditor's bill to reach cash surrender value of a life insurance policy on life of judgment debtor, defendant could not contend that such insurance was exempt because tort judgment for fraud and deceit was entered against defendant after effective date of statute granting exemption, because defendant's fraudulent acts occurred prior to effective date of statute and constituted a "liability" within the meaning of the exemption statute at the time of their commission, and defendant could not contend that equity could not compel him to surrender his life insurance, where such defense was not raised below (Ill. Rev. Stat. 1939, ch. 73, § 850; Jones Ill. Stats. Ann. 66.913).
See Callaghan's Illinois Digest, same topic and section number.
Opinion by JUSTICE SCANLAN.
"Not to be published in full." Opinion filed May 13, 1941.