Legislatures of Most of the Common-
and President Roosevelt Is Expected
to Recommend Them in His Forth*
coming Message to Congress.,
Chicago, Nov. 17.—Members of the
insurance commission who have been
in session for the last week drafting
projected laws fdr the control of life
insurance throughput the country have
completed their work and adjourned.
No complete report of the contem
plated recommendations was made pri
or to the adjournment and it will not
be prepared for some time.
A standard policy act, which pro
vides six forms of uniform policies for
use by all life insurance companies.
An annual apportionment act, which
requires life insurance companies ei
ther to pay annual dividends or credit
the amount earned to the different pol
icy holders. This act limits the
amount of surplus which the compa
nies are permitted to retain in their
treasuries.
An act prohibiting discrimination
and rebating between agents and poli
cy holders.
Corporations Barred as Agents.
An act prohibiting corporations from
acting as agents of life insurance com
panies.
An act regulating the election of the
directors of mutual life insurance com
panies.
An act prohibiting the publishing of
estimates and illustrations which mis
represent the terms of any policy or
the benefits or advantages promised
thereby.
An act prohibiting life insurance
companies from making any ki$fl of
a pplitical contribution.
An act forbidding insurance compa
nies from expending more than $5f000
for any specific purpose without the
consent of the board of directors.
An act prohibiting life insurance
companies from paying any officer a
salary in excess of $50,000 annually.
An act regulating the investment of
life insurance company funds.
An act making the policy the entire
contract between the interested par
ties.
An act defining the status of the
persons who solicit life insurance.
