Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1909-07-21

ditlonal charge or expense TO it, make one
additional valuation of such policies accord
Ing 10 such standard, as ii shall specify.
ANY valuation made by him shall, upon
request. be certified to the commissioned of
insurance or like officer of any other state
or country.
8. All valuations made by the state
snail be tabulated and preserved as a part
Of the records of the Department OF Insur-
ance- Each valuation shall be accompanied
by "a statement of the tables of mortality
used. the rates of interest assumed, and
the method of computation employed.
Section 1950a. There shall be paid by
every life insurance company organized in
this state and by every life insurance COM
pany organized under the laws of some
other state foreign country. if no certi-
fed valuation has been furnished
as herein provided, by way of compensation
for the valuation of its policies
one cent on every one thousand dollars In
sured by it, which shall be paid by the
commissioner of insurance into the state
treasury.
Section 1950b. Whenever any life in
surance company, organized under the laws
Of any foreign country, shall have been ad-
III sssioner of insurance to annually and sep
arately value all policies written in, or on,
the lives of residents Of this state. and 1t
shall be the duty of such company, as one
Of the conditions Of renewal of license, to
invest, and at all times keep invested, the
aggregate net value of such policies, in
SINA SCCuIlttS5 dS pEObAucu u1lutE Tie
laws of this state and deposit such aggre
gate amount In such securities at their
book value. with the state treasurer, every
such company depositing such securities
shall have the right to receive the income
thereof, and to exchange the same from
time to time for Ike securities of like value,
and may withdraw such deposit when the
commissioner of insurance shall certify that
all liability arising under all policies or
contracts Issued In or on the lives of resi-
dents Of this state has been satisfied, and
that there Is no further necessity for such
deposit
Section 1880. l. The table of mortality
adopted, IL other than the American Expe-
rience, the Actuaries, or the American Ex-
perience Select, ION the basis that the rate
OF mortality during the first five years after
the date Of insurance shall be calculated ac-
cord.ng to the following percentages of the
rate shown by the American Experience
Table of Mortality to-wit: First year of
Insurance fifty per centum thereof, second
year OF insurance sixty-6ve per centum
thereof. third year Of insurance seventy-fve
per ceDtum thereof fourth year of insur
ance eighty five per centum thereof. fifth
year Of insurance ninety-five per centum
thereof, and for each year thereafter one
hundred per centum thereby shall not ex-
hibit at any age lower death rate than
that shown at the corresponding age and
duration by the British Offices Select o
(M) Mortality Table.
2. The rate Of interest assumed In COM
putting premiums and reserves shall not be
less than three. nor more than four per
centum per annum.
Section 2. This act shall take effect and
be in force on and after the first day of
January. 1910. after its passage and pub
LEGATION.
Approved May ct, 1909