Report of the Joint Committee of the Senate and Assembly ... Appointed to Investigate the Affairs of Life Insurance Companies ...
New York (State). Legislature. Joint Committee on Investigation of Life Insurance, William W. Armstrong
Brandow Printing Company, state printers, 1906 - Insurance law - 442 pages
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accumulations actual actuary additional agents amount ance Andrew Hamilton annual statement assets association balances book value capital stock cash cent charged to legal claims collateral company's contracts cost December 31 deferred dividend policies deposit directors disbursements E. H. Harriman election endowment policies entitled Equitable Estimated examination excess follows fund Hamilton home office Hyde income increased Insurance Company insurance corporations Insurance Department Insurance Law interest investment J. P. Morgan J. W. Alexander January lapse legal expenses legislation level premium liabilities loans loss market value ment moneys mortality gains Mortgage Mortgage loans Mutual National Bank officers ordinary outstanding insurance paid pany participation period policy holders President profits proxies purchase real estate received reserve result salary securities shares society stockholders Superintendent of Insurance surplus syndicate tion tontine transactions Trust Company vote voting trust year's premiums York
Page 380 - Such as shall have been mortgaged to it in good faith, by way of security for loans previously contracted, or for moneys due ; or, 3.
Page 42 - No proxy hereafter made shall be valid after the expiration of eleven months from the date of its execution unless the member executing it shall have specified therein the length of time it is to continue in force, which shall be for some limited period.
Page 376 - ... its charter to conform with the same, upon obtaining the consent of the superintendent of insurance thereto in writing; and thereafter it shall be deemed to have been incorporated under this chapter, and every such corporation in reincorporating under this provision, may for that purpose so adopt in whole or in part a new charter, in conformity herewith, and include therein any or all provisions of its existing charter, and any or all changes from its existing charter, to cover and enjoy any...
Page 381 - ... in the convenient transaction of its business, shall be sold and disposed of within five years after...
Page 433 - ... which is that the apportionment, as made by the defendant, is absolutely and at all events conclusive upon the policy-holders. We hold that, under the terms of this policy, the apportionment was to be equitably made, and in the first instance by the defendant's officers or agents. But, inasmuch as the agreement is that the apportionment shall be an equitable one, the question of what is an equitable one, all the facts and circumstances being known, may be one over which the courts have supervision....
Page 434 - No order, judgment or decree providing for an accounting or enjoining, restraining or interfering with the prosecution of the business...
Page 439 - All the real property held by the corporation, the dates of acquisition, the names of the vendors, the actual cost, the value at which it is carried on the company's books, the market value, the amounts expended during the year for repairs and improvements, the gross and net income from each parcel, and if any portion thereof be occupied by the company the rental value thereof, a statement of any certificate issued by the...
Page 439 - ... all statements purporting to be made by the insured shall in the absence of fraud be deemed representations and not warranties. Any waiver of the provisions of this section shall be , void.
Page 438 - January, nineteen hundred and seven, by any life insurance corporation doing business within the state shall contain the entire contract between the parties and nothing shall be incorporated therein by reference to any constitution, by-laws, rules, application or other writings unless the same are indorsed upon or attached to the policy when issued...