132 Wis. 86 | Wis. | 1907
This action having been once before this court and the rights of the members of the corporation in and to' the surplus in its treasury having been exhaustively considered, little remains but to apply the conclusions then reached and declared, which became irrevocably the law of this case.
Turning, then, to the former decision, we find it unambiguously declared that those at any given moment holding policies are the members and all the members of the corporation and the beneficial owners of all its assets; also that the surplus in excess of the needs of the corporation was a proper subject for distribution at any time. We now have, as an additional fact, that the proper authorities did, on March 19, 1906, vote: “There is hereby ordered to be distributed to such members [viz., those entitled thereunto] the sum of $50,000.” Who were those members “entitled thereunto” ? Those who held policies on March 19, 1906, or any one who might be a member at the time of physical payment of the money to him,
The next question, after thus identifying the legal recipients of this fund, is the portion to which each is entitled. Many methods of apportionment are suggested, and in each there can he suggested possible situations resulting in unfairness or offering opportunities for discrimination for and against individuals. It might not be easy as an original process to conclude which is least objectionable or most equitable. The trial court apparently considered himself concluded by the former decision of this court, wherein it was said (127 Wis. 438, 105 N. W. 1040):
“In case of its [the corporation] being wound up, the net assets constituted a fund for distribution between the members according to their respective contributions to the company’s treasury. In case of apy distribution of its surplus, other than following a dissolution, they were entitled to so participate.”
Accordingly, after identifying the persons, he ruled that each such person should share in the proportion he had at any time paid into the treasury, whether during the term of his existing policy or any prior ones, and without regard to whether his membership had been continuous or broken by greater .or less intervals, and without considering how. much of his payments had at any time been in excess of expenses properly chargeable against them, and thus had directly contributed to the surplus. We agree that no other reasonable meaning can be found in our former declaration, and must therefore approve the conclusion reached.
By the Oourt. — Judgment affirmed.