Show EXPERTS ADOPT PROPOSED LAWS I Sixteen Plans to fo Correct Evils in Life Insurance Management Management Man Man- WILL GO TO LEGISLATURES Pr Ho to Be He Asked l to s Subject in Next M Message I Chicago Nov O 17 17 Sixteen proposed In laws ws expected to correct e every ery ry evil 11 In III life liCe Insurance management were adopted today b by the tho committee o of sixteen insurance commissioners from as aJi many different states slates who have been in session for a week at the Palmer Palmer Palmer Pal Pal- mer hou house hoube e I Insurance Commissioner Drake of or orthe the District of Columbia will submit the draft to President Roosevelt for fOl discussion In the latter's g next message to congress The proposed code will willbe willbe be submitted simultaneously this winter winter win win- ter in Iii the legislatures of or thirty-seven thirty states A summary df f the proposed new acts follows s Standard po policy II C In six Ix forms forma Annual apportionment requiring all companies either cither to pa pay dividends yearly or 01 to credit the amount carnell earned earned earn earn- ed ell to each ench policyholder holcer Limit also placed on surplus permitted each corn company pa ny Prohibition of or discrimination and amid rebating between agents agent an and policy- policy holders Corporations prohibited from acting as Insurance agents agent S Regulation of ot election o of Mutual Z Life LICo Insurance directors Prohibition of publication of estimate estimates estimates esti esti- mates mate and Illustrations misrepresent misrepresent- Ings terms of pC nn any policy or benefits or advantages ad promised thereby Prohibition of ot political contributions by companies i Prohibition of expenditure In excess s of by any company for any specific purpose without directors directors' con con- sent Prohibition of or salary exceeding 50 to any officer Regulation of investment of funds Policy Polley to consist of ot entire contract between n Interested parties Defining status tatus of solicitors Prohibition of or participating and I participating policies Regulating disbursements Regulating retirement of capital Regulating life assessment plan ron companies S |