Life Insurance Company of America

Text (OCR of the scan at left; may contain errors)

In tue Marrer or LIFE INSURANCE COMPANY OF AMERICA ET AL. ORDER, EYC., IN REGARD TO THE ALLEGED VIOLATION OF THE FEDERAL TRADE COMMISSION ACT Docket 6247. Complaint, Oct. 14, 1954—Order, June 24, 1960 Order dismissing—following dissolution of respondent and reinsurance of its business by a company respondent in another case pending before the Commission—complaint charging a Wilmington, Del., life insurance com- Syllabus 56 F.T.C.

pany with misrepresenting the benefits of its accident and health insurance policies.

Before Mr. Loren H. Laughlin, hearing examiner. Mr. J. W. Brookfield, Jr. for the Commission. Layne & Ephraim, of Washington, D.C., for respondents. ORDER DISMISSING COMPLAINT This matter having come before the Commission upon appeal by respondents from the hearing examiner’s initial decision and upon motion filed by respondents’ counsel for discontinuance of the proceeding by reason of the dissolution of respondent corporation and answer thereto wherein counsel supporting the complaint does not oppose said motion; and It appearing from the certified copy of the certificate of dissolution submitted with, and as a part of, the motion that respondent Life Insurance Corporation of America was dissolved by action of the Secretary of State, State of Delaware, taken on December 17, 1959; and Tt further appearing from the motion that the business of respondent corporation was reinsured by Guarantee Reserve Life Insurance Company of Hammond, Indiana, on September 16, 1959, said company being respondent in Docket No. 6248 now pending before the Commission; and The Commission having duly considered the motion of respondents’ counsel, answer thereto, and the record herein, and being of the opinion that the motion should be granted: It is ordered, That the complaint herein be, and it hereby is, dismissed.

Commissioners Kern and Tait not participating.