Corporation Commission v. Equitable Life Assur. Soc. of United States

LA PRADE, Justice.

This action was instituted 'by The Equitable Life Assurance Society of the United State, a mutual life insurance company, in its own behalf and on behalf of all other insurance companies 'similarly situated, to obtain a declaratory judgment determining and declaring the construction to be placed upon section 61-328, A.C.A.1939, as amended .by ch. 113, S.L.1941, ch. 100, S.L.194S, imposing upon every insurance company doing business in Arizona, an annual tax of two (2) per cent of the gross amount of all premiums received on policies and contracts of insurance covering…