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1934 Arizona Attorney General Reports and Opinions 1 (1934)

handle is hein.sag/sagaz0055 and id is 1 raw text is: April 10, 1934

Arizona Corporation Commission
State Administration 'uildin            K
Phoenix, Arizona
Gentlemen:                      Att         L ii . Hankins
I am in receipt of your le        Dar   24, 1954,
enclosing a file in re Liberty Mutual Benefi' asscation,
including letters from lon. Co   11 1vull, Secre   of State,
Washington, D. C., and Rober on I ney, American onsul,
Calgary, Alberta, Canada.
I have examine /4h  po1     f the Liberty Mutual
Benefit Association and  .e a     ar advertisement enclosed.
I am of the opinion that th   p      violates the'insurance
laws of the State of Arizona.
Death be   it a ociati   a   y be organized under
the laws of the 8 at     A   ona, a   ly for the purpose of
paying death be ft    to    b  s. Contrary to the statement
in the airoular  to 0laws    th a State, in resDeot to death
benefit aseocia  on   are no  at ict except that they are
limited to the pa  on 'f d th    enefits only. They are not
controlled by the £ur      la a of the State and tltere are
no restri     a as to he aa linG or investment of the funds.
The prov sions f the L        Mutual Benefit Association
policy  pr V   ng 'or cash refunds, cash surrender, non-
forfe cn? benef to annual dividends, total and permanent
disab li , are    v- lation of the insurance laws of the
State f    izona.
e  , ing your file herewith.
Very truly yours,
Attorney General
CLS :3                           Assistant Attorney General

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