In Re Prudential Insurance Co.

This proceeding was initiated by a petition filed by The Prudential Insurance Company of America (hereinafter referred to as Prudential) in pursuance of the provisions of a legislative enactment of 1940. P.L. 1940, ch. 208; N.J.S.A.17:34-43.1 et seq. The company, a stock life insurance corporation, has heretofore undertaken to acquire the shares of its capital stock for the mutual benefit of its policyholders. Resorting to the measures afforded by the act of 1913 (P.L. 1913ch. 99, now N.J.S.A. 17:34-33 et seq.) the company has procured 98.54 per centum of its stock. In 1940, the legislature,…