The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1909-07-15

ditional charge or expense to il. make one
additional valuation OF such policies accord
ing TO such standard, as IL shall specify,
Any valuation made by him shall, upon
request. be certified TO the commissioner Of
insurance or like officer of any other state
or country.
s. All valuations made by the state
shall be tabulated and preserved as part
OF the records of the Department of Insur.
ance. Each valuation shall be accompanied
by statement OF the tables of mortality
used the rates of interest assumed. and
the method Of computation employed.
Section l05oa 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 or foreign country, II no cert.
fed valuation mas 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 II. which shall be paid by the
commissioner Of insurance into the state
treasury.
Section l950b. Whenever any life in
surance company, organized under the laws
of any foreign country, shall have been nd
mltted, 1t shall also be the duty of the com
missioner of insurance to annually and sep
aratey value all policies written In, or on,
the lives OF residents of this state, aud 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
Shtu SECURITIES us DfONlaeu LOT uuuti tht
laws of this state. and deposit such aggre.
gate amount In such securities ut their
book value, with the state treasurer, every
such company depositing such securities
shall have the right to receive the income
thereof, aud to exchange the same from
tine to time for like securities of like value.
and may withdraw such deposit when the
commissioned 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
Section l950c l. The table of mortality
adopted, II other than the American Expe-
rience, the Actuaries, or the American Tx
perience Select ton the basis that the rate
of mortality during the first i've years after
the date of insurance shall be calculated ac-
cording to the following percentages of the
rate shown by the American Experience
Table CT Mortality to-wit: First year of
insurance nfly per centufn thereof, second
year of Insurance siNty-hve per csntum
thereof. third year of insurance seventy five
per centum thereof, fourth year of insur-
ancc eighty five per ceutum thereof. NTH
year of Insurance ninety five per Centum
thereof. and for each year thereafter one
hundred per centum thereof shall not cX-
hlbit AT any age II lower death rate than
that shown Mt the corresponding age and
duration by the British Offices Select q
tM) Mortality Table
>. 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 =. This act shall take effect and
be- IN force on and after the first day OF
January. 1910, after its passage and pub
iication.
Approved May %, 1909