1836 ARTICLE 48A.

of insurance issued upon the faith of such application, unless such mis-
representation or untrue statement relates to some matter material to
the risk.

1922, ch. 492, sec. 85.

88. Misstatement of Age in Application. Whenever it shall be made

to appear that a wrong age has been given in good faith in any application

for a policy of life insurance, the company shall not be required to pay the

face value of the policy, but such sum as the premium paid would have

purchased at the applicant's real age at the time of effecting the insurance.

1922, ch. 492, sec. 86.

89. Postponement of Dividends on Policies. No life insurance com-
pany authorized to transact business in this state shall hereafter issue to
or upon the life of any resident of this state any policy participating in
the profits or surplus, under which the accounting, apportionment and dis-
tribution of surplus to the policyholders shall be delayed for a longer
period than five years from the date at which the insurance first went into
effect, or from any preceding accounting, apportionment or distribution
of surplus.

No such company shall be permitted to enter into any agreement with
any policyholder or applicant for insurance, intended as a waiver of any
of the provisions of this section, and it shall be the duty of the commis-
sioner to revoke the authority of any such company to transact business
in this state, for failure to comply with any of the requirements of this
section.

1922, ch. 492, sec. 87.

90. Underaverage Risks. Nothing in the foregoing section shall ap-
ply to policies written on underaverage risks, but such underaverage in-
surance may be written upon such terms as the parties may agree upon,
and the surplus may be apportioned and dividends declared and paid an-
nually, or at longer intervals in the manner and proportions, and among
the parties entitled thereto under the terms of their renewal contracts with
the corporation.

1922, ch. 492, sec. 88.

91. Insurance or Reinstatement of Unsound Person. Any agent, phy-
sician or other person who shall insure, or knowingly cause to be insured or
reinstated in membership, any infirm or unhealthy person not at the
time in an insurable condition shall be deemed guilty of a misdemeanor.

1922, ch. 492, sec. 89.

92. Inadequate Rates. Whenever the actuary for the department shall
ascertain that any insurance company doing business in this state is writ-
ing and issuing policies upon an insufficient, insecure or impracticable
table of rates, then he shall report the same to the commissioner, who,
upon such report, shall notify such company so writing or issuing policies