POLICY HOLDERS IN AMERICAN LIFE OFFICES.

Lake County Press, Issue 2136, 20 September 1906, Page 5

POLICY HOLDERS IN AMERICAN LIFE OFFICES.

With respect to the New Zealand policyholders of the Equitable Life Assurance Society of the United States the Public Trustee holds securities to tho value of £'50,000 on account of tho above Society. That deposit is hold in trust by him, firstly, to secure policy-holders whose policies are registered with him under the provisions of "The Life Assurance Companies' Act, 1873" ; and, secondly, subject to tho foregoing for the benefit of the policy-holders pari passu of tho Society. The provision made in the Act of .1873 for the registration of policies was repealed by Act of November 17th, 18'.),"), so that the registered policies are a continually diminishing number, and will disappear entirely in course of time. This is all the information the Government can supply with regard to the question. It is added that it would be undesirable to give the above policy-holders' policies in the Government oflico except in the ordinary way.