Common use of USE OF DIVIDENDS Clause in Contracts

USE OF DIVIDENDS. Dividends may be paid in cash or used for one of the following: 1. Paid-up additions share in the divisible surplus. * DIVIDEND ACCUMULATIONS. Dividends will accumulate at interest. Interest is credited at an annual effective rate of 3 1/2%. The Company may set a higher rate. Other uses of dividends may be made available by the Company. If no direction is given for the use of dividends, they will purchase paid-up additions.

USE OF DIVIDENDS. Dividends may be paid in cash or used for one of the following: 1. Paid-up additions share in the divisible surplus. * : - DIVIDEND ACCUMULATIONS. Dividends will accumulate at interest. Interest is credited at an annual effective rate of 3 1/2%. The Company may set a higher rate. Other uses of dividends may be made available by the Company. If no direction is given for the use of dividends, they will purchase paid-up additions.