Page:United States Statutes at Large Volume 48 Part 1.djvu/1153

 73d C ONGRESS. SESS. II. CH. 672. JUN E 19, 1934 . See. 3 0. O fficers and directors no t to be pecu niarily inter ested in tra nsactions. See. 31 . Voting trusts prohibited. See. 32. Maximum and contingent premiums of mutual companies. See. 33. Classification of risks by mutual companies. Sec. 34. Mutual company guaranty fund ; mutual company power to borrow. See. 3 5. In vestment of funds of domestic companies. See. 36. Domestic company real estate holdings. See. 37. Reinsurance by domestic companies in authorized companies. See. 38 . Vo uchers for disbursem ents. See. 39. Books, records, accounts, and vouchers of domestic companies. Sec. 40. Capital stock acquisition by company of its own shares. CHAPTER I V -RELATING TO ADMISSION OF FOREIGN AND AL IEN COMPANIES See. 1. Application of foreign or alien company for authority to do business in the District. Sec .2. Trustees of alien companies. CHAPiLli V-PROVISIONS RELATING TO ALL LIFE-INSURANCE COMPANIES Sec. 1. Superintend ent to value policies ; legal sta ndard of val uation. Sec. 2. Separate classes a nd accounts to be ke pt for participating and non- participating insurance. See. 3 . Standard pr ovisions req uired in lif e insurance p olicies. Sec. 4. Provisions prohibited i n life insur ance policies. Sec. 5 . Standard provisions required in annuities and pure endowment con- tra cts. See. 6. Extension of time for payment of life premiums. Sec. 7 . Interest on policy and premium loans may be added to principal. Sec. 8. Life-policy forms to be filed with Superintendent. Sec. 9 . Provisions required by the laws of a company's own State may be included in policies. Sec. 10. Definition of group life insurance. Sec. 11. Standard provisions for policies of group life insurance. Sec. 12. Standard provisions for accident and health policies. Sec. 13. Stock operations and advisory board contracts prohibited. Sec. 14. Misrepresentations prohibited. Sec. 15. Discriminations prohibited. Sec. 16. Rights of creditors and beneficiaries under policies of life insurance. See. 17 . Exemption of group life insurance policies from execution. Sec. 18 . False statements. See. 19 . Proceeds of certain policies to be held in trust by life company. See. 20 . Wh en actual premium fo r life policy is les s than net premium. CHAPTER VI-PENALTIES-CONSTITUTIONALITY Sec. 1. Penalties ; constitutionality. Sec. 2. Testimony ; production of books. Sec. 3. Constitutionality. Sec. 4. Repeals. Sec. 5. Effective date of act. CHAPTER I-TITLE AND DEFINITIONS Sec. 1. Short title. Sec. 2. Definitions. SECTION 1. SHORT TITLE .-This Act shall be known as the "Life Insurance Act." All life insurance companies now or hereafter incorporated or formed by authority of any general or special law of this District or by other Act of Congress, and all foreign and alien companies authorized to do business in this District, shall be subject to this Act. 1127 Foreign and alien companies, admission of, post, p. 1154. Life-insurance com- panies, provisions re- lating t o, post, p. 1156. Penalties-Constitu- tionality, past, p. 1176 . Short title.