W. H. Luquire Burial Ass'n v. Commissioner
United States Board of Tax Appeals
A corporation issuing burial insurance policies under which, for a stipulated periodical premium, it agrees to furnish a burial to the insured of a certain retail value upon his death, which is required to set aside a reserve for the fulfillment of its contractual obligations, determined by the Insurance Commissioner of the State of Alabama, who regulates its conduct and to whom it is required to file annual reports, is a "life insurance company" within the meaning of the…
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A corporation issuing burial insurance policies under which, for a stipulated periodical premium, it agrees to furnish a burial to the insured of a certain retail value upon his death, which is required to set aside a reserve for the fulfillment of its contractual obligations, determined by the Insurance Commissioner of the State of Alabama, who regulates its conduct and to whom it is required to file annual reports, is a "life insurance company" within the meaning of the Revenue Acts of 1928 and 1932, as that term is defined in section 201 of said acts.
1Opinion of the Court
*626OPINION.
Morris:1
Did the issuance of burial insurance contracts constitute the petitioner a “life insurance company” under the provisions of section 201 of the Revenue Acts of 1928 and 1982 ? The term “life insurance company” as defined in subdivision (a) of that section “means an insurance company engaged in the business of issuing life insurance and annuity contracts (including contracts of combined life, health, and accident insurance) the reserve funds of which held for the fulfillment of such contracts comprise more than 50 per centum of its total reserve funds.” We do not understand the…
2Cases cited11 opinions
- Commonwealth v. WetherbeeMassachusetts Supreme Judicial Court · 1870
- State ex rel. Fishback v. Globe Casket & Undertaking Co.Washington Supreme Court · 1914
- State ex rel. Coleman v. Wichita Mutual Burial Ass'nSupreme Court of Kansas · 1906
- Fikes v. StateMississippi Supreme Court · 1905
- State v. BeardsleySupreme Court of Minnesota · 1902
6 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- W. H. Luquire Burial Ass'n v. CommissionerUnited States Board of Tax Appeals · 1937