1. SEC v. VARIABLE ANNUITY LIFE INS. CO. OF AMERICA, No. 290, SUPREME COURT OF THE UNITED STATES, January 15, 19, 1959, Argued , March 23, 1959, Decided ** Together with No. 237, National Association of Securities Dealers, Inc., v. Variable Annuity Life Insurance Co. of America et al., also on certiorari to the same Court.
OVERVIEW: Insurance companies were required to register their variable annuity contracts under the Securities Act of 1933 and comply with the Investment Company Act of 1940, because such annuities were not insurance due to a lack of true underwriting of risk.
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