The opinion of the court was delivered by WEINTRAUB, C.J.
The Director of the Division of Taxation determined that the proceeds of certain life insurance policies paid to named beneficiaries were transfers intended to take effect upon the death of the insured and hence were taxable under the transfer inheritance tax law. We certified the taxpayers' appeal before the Appellate Division acted upon it.
I.
In 1937 the decedent, age 52 and uninsurable...
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