In Re American Buyers Ins. Co.

McDONOUGH, justice.

Appellants are two domestic corporations authorized by certificates issued by the Department of Business Regulations to transact the business of mutual benefit associations. They were also authorized by the Utah Securities Commission to sell securities and their agents are licensed both as insurance agents and securities salesmen. These companies have been selling for some time insurance policies, the dividends from which are assigned in trust for the purchase of stock for the policy holders. Upon a hearing before the Insurance Commission and the Department of Business…