invested capital
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 272 U.S. 613 - Duffy v. Mutual Benefit Life Insurance · 1926Most cited · 14 citing opinions
To the extent of $70,000,000 the legal reserve consisted of 'actual cash paid in' by the members. These payments were intended for investment, and were invested, to increase the resources of the company and thereby reduce the cost of the insurance; and it requires no stretch of the realities to say that, within the meaning of subdivisions (1) and (2), section 207(a), the fund which they created is invested capital.