The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1909-07-29

ditibnal charge or expense to 1t, make one
additional valuation of such policies, accord
ing TO such standard, as, it 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 1nsur-
.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 1a50a. 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 If no certi-
fed valuation = has been furnished
as herein provided, by way of compensation
for - the valuation Of it's 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.
4. Section 195Ob Whenever any life in
s'lratce company organized under the laws
Of any foreign country. shall have been adj
United, 1t shall also be the duty Of the COM
missioner Of insurance to annually and sep
arately value all policies written in. or on,
the lives Of residents Of this state. and It
Of tho conditions Of renewal Of license, to
invest, and at ali times keep invested, the
aggregate net value of such policies. In
SucR securities as pFOVtOeO Tor un0er the
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 20 exchange the same from
time TO time for like 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 10 no further necessity for such
Section 1050c. /. The table Of mortality
adopted. II other than the American Expe-
rienee. tho Actuaries, or the American Ex-
perience Select, Con the basis that the rate
Of mortality during the hrst five years after
the. date Of insurance shall be calculated &C
cording 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-fve per centum
thereof, third year OF insurance seventy-five
per centum thereof, fourth year Of insur-
ance eighty-dve per centum thereof, fifth
thereof, and for each year thereafter one
hundred per centum thereof shall not ex-
hlbit at any age a 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
location.
Approved May 27, 1909.