Show MORATORIUM MORA RULE INY INVALID ALIO IN UTAH Moratoriums granted to life me the cash surrender surrender values s of life inthe inthe in in- the cash surrender values a ues of Ifie insurance insurance insurance in in- policies have no effect in Utah Eli Elms Elias A. A Smith Jr r state insurance insurance insure ance commissioner ruled Thursday Mr Smith pointed out that due to economic conditions there was a are re reported reported ported run on many life insurance companies recently by persons turning turn ing lag in policies for cash payment As M Asa Ma a result some some some- states granted moratoriums mora on such payments The ruling which may have widespread widespread widespread wide wide- spread effects in other states in addition addition addition ad ad- to Utah holds that an insurance mice ance commissioner of another state cannot by special ruling impair the obligations of ot a contract of insurance sold and held within the state of Utah Interpreted the ruling means Mr Smith said that holding policies policies pol pal ides in Iii companies whose home offices are located in states where urns have been granted may collect collect col col- col lect the c cash Sh values alues of their policies regardless of suspension rulings in effect cf ef- feet elsewhere |