Show RULES BANKS MAY INSURE OFFICERS WASHINGTON Oct 14 my H.-my Ey The Associated Press In Press In response to sev sev- several several several eral Inquiries by national n banks Comptroller of the Currency McIntosh McIntosh tosh Friday ruled that a national bank may take out insurance on the life of ot an officer provided the success of the banking business was dependent I upon the continued life Ufe of the person peron Insured I The comptroller pointed out how how- however however however ever that he would not encourage the practice as being opposed to public policy polle and that the bank must have havea a real Insurable Interest in the of of- official of- of official Under no circumstances he said would endowment Insurance bj be b per per- permitted permitted permitted but should be purely protective protective protective tive such as ordinary life and term insurance |