People ex rel. National Life Insurance v. State Commissioner of Insurance
Michigan Supreme Court
Application for mandamus. The petition alleges that the National Life Insurance Company is a corporation incorporated under the laws of the state of Illinois, having its principal office at Chicago; that previous to February 2, 1871, it complied with all the laws of the state of Michigan prescribing the terms and conditions upon which foreign insurance companies are permitted to transact the business of life insurance within said state, and that a license to do business…
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Application for mandamus. The petition alleges that the National Life Insurance Company is a corporation incorporated under the laws of the state of Illinois, having its principal office at Chicago; that previous to February 2, 1871, it complied with all the laws of the state of Michigan prescribing the terms and conditions upon which foreign insurance companies are permitted to transact the business of life insurance within said state, and that a license to do business within the state was issued to it by the Secretary of State; that on March 29, 1872, the legislature of this state passed an…
1Per curiam
We think the relator comes within more than one of the prohibitions of the amendatory statute of March 29, 1872. As the company does not guarantee the payment of more than a certain portion of the sum insured, and does not guarantee any part of it absolutely, after the year 1875, we think it must be held that the contract of insurance does ' not “ distinctly state therein the amount of such life benefits,” but leaves that amount, uncertain and contingent; and that this is a prominent mischief aimed at by the statute.
The law also requires " the amount of the annual, semiannual, or quarterly…
2Cited by2 opinions
- Barnett v. Farmers' Mutual Fire Insurance Co.Michigan Supreme Court · 1897
- People ex rel. Hartford Life & Annuity Ins. v. FairmanNew York Supreme Court · 1882