Volunteer State Life Insurance v. Larson

The question for decision presented to this Court on appeal from the Circuit Court of Leon County, Florida, is whether or not, under the provisions of Chapter 19501, Acts of 1939, the Volunteer State Life Insurance Company shall be permitted or allowed to deduct the sum of $76,158.22 from the total amount of gross premiums, being in the sum of $204,582.92, written by it in Florida during the year 1939. The sum of $75,016.00 was paid in cash to its policy holders during said year as cash surrender values and for cancellation of policies pursuant to the provisions thereof, while the sum of…