THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES,

ZENO M. HOST, INDIVIDUALLY AND AS COMMISSIONER OF INSURANCE OF WISCONSIN,

Defendant and Respondent.

STATUTES AND STATISTICS.--APPENDIX TO AFPELLANT'S BRIEF.

I.

TABULAR VIEW OF STATUTORY PROVISIONS IN THE STATES OF

MASSACHUSETTS

MISSOURI

ILLINOIS

WISCONSIN

OKLAHOMA

NORTH DAKOTA.

IN RE DISTRIBUTION OF SURPLUS FROM THEIR ORIGIN TO DATE.

1869-da te All life insurance companies (domestic) MAY make distribution, which distribution shall be out of actual surplus profits only.

Reserve out of assets.

1st. Amount for death losses, expenses and liabilities.

2nd. Amount not less than aggregate net value outstanding policies computed as directed for valuation of policies by 29th section.

NOTE. This is the original act on the subject in Missouri. Prior to 1869, the only insurance laws of the State of Missouri related to agents and service of process.

By Act approved March 4, 1869, an Insurance Department was created (Laws 1869, p. 23).

1869.

1, 2, 3, 4 or 5 years, "as the board of directors, or other officers charged with the management of the company's affairs, may from time to time determine."

At the same session an Act was passed entitled, "An Act for the Incorporation and Regulation of Life Insurance Companies (Laws 1869, p. 26. Section 28 is a part thereof).

1879 Revised Statutes § 5967 contains same wording as original Act (1869) viz. "MAY."

NOTE. This § 5967 in substance is § 28 of the original act of Mch. 10, 1869.

1889 Revised Statutes § 5810 contains same wording as original act (1869) and Revised Statutes 1879, viz. "MAY."

NOTE. This § 5810 is identical with § 28 of original act (1869) and § 5967 of Revised Statutes 1879.

1899 Revised Statutes § 7881 contains same wording as original act (1869) and Revised Statutes 1879 and Revised Statutes 1889, viz. "MAY."

NOTE. This § 7881 is identical with § 28 of original act (1869) and § 5967 of Revised Statutes 1879 and § 5840 Revised Statutes 1889 and is the provision now in force.

Time of Distribution in language of Statute.

ILLINOIS

Public laws of 1869, page 232, sec. 14, entitled "An act to organize and regulate the business of Life Insurance " approved March 26th. In force July 1st.

1869-(date

Life insurance companies doing business in this State (foreign and domestic) on principle of mutual insurance MAY make distribution of such surplus as they have accumulated.

Reserve. An amount not less than aggregate net value of all outstanding policies, with interest not exceeding 4 per cent.

1896 Revised Statutes page 2258, sec. 184 contains same wording as act of 1869.

1, 2, 3, 4 or 5 years "as directors may from tire to time deterrine."

WISCONSIN

Laws of 1870, Chap. 59, sec. 14, "An act to regulate the business of Life Insurance.'

Period.

1870-(date

Language as to Distribution.

Life Insurance companies (all) mutual, or the members of which are entitled to share in surplus funds MAY make distribution of surplus.

Reserve. An amount not less than the aggregate net value of all outstanding policies computed by American Experience Table with interest not exceeding 42 per cent.

Revised Statutes of Wisconsin of 1878, Chap. 89, sec. 1952, and Revised Statutes of 1898, sec. 1952, contain same wording as statute of 1870 with exception that every life insurance company is included.

Time of Distribution in language of Statute.

1, 2, 3, 4, 5 years, "as the directors thereof may from time to time determine."

Public Statute of Massachusetts of 1882, chap. 119, p. 716.

1882-1887 A mutual life insurance company MAY make distribution of such surplus as it may have accumulated.

1887-1900

Reserve. "An amount not less than the aggregate net value of all its outstanding policies, computed by combined experience or actuaries tables, with interest at 4 per cent.

Acts and Resolves of Massachusetts 1887, Chap. 214, p. 817, sec. 75, approved April 21st.

NOTE. This is the Massachusetts Insurance Act.

Every (domestic) company SHALL annually, etc., "as it shall determine, and as may be conditioned in its policies, make distribution of all surplus it may have accumulated since its last dividend of surplus."

Reserve computed as provided in sec. 11 of this act.

1, 2, 3, 4 or 5 years, "as the directors may from time to time determine."

1, 2, 3, 4 or 5 years, "as it shall determine."

OKLAHOMA

Laws of 1890, sec. 51, Council Bill No. 80, approved Dec. 22nd.

1900-(date Acts & Resolves of 1894, Chap. 522, sec. 75. Identical language of Act of 1837, Acts and Resolves of 1900, Chap. 366. p. 288, sec. 2.

The directors of any life insurance company out of the funds remaining after providing for reserve required under sec. 1 MAY from time to time make to policy holders not in arrears distribution of surplus not inconsistent with the terms of their policies "

"From time to time."