Any corporation, society, order, or voluntary association without capital stock, organized and carried on solely for the mutual benefit of its members and their beneficiaries and not for profit, and having less than Thirty Thousand Dollars ($30,000.00) in total annual written premium, having a lodge system and representative form of government, or which limits its […]
Any person may be admitted to beneficial, or general, or social membership in any society in such manner and upon such showing of eligibility as the laws of the society may provide, and any beneficial member may direct any benefit to be paid to such person or persons, entity, or interest as may be permitted […]
The certificate, the charter or articles of incorporation or, if a voluntary association, the articles of association, constitution and laws of the society, and the application for membership signed by the applicant, and all amendments to each thereof shall constitute the agreement between the society and the member; and copies of the same certified by […]
Any society may create, maintain, invest, disburse, and apply an emergency, surplus, or other fund consistent with the purposes for which such society is organized, including hospital and health, home, thrift, pension for its employees, patriotic, educational, and relief funds, in accordance with its laws. Unless otherwise provided in the contract, such funds shall be […]
Every society shall invest its funds only in securities permitted by the laws of this state for the investment of the assets of life insurance companies, and such securities shall be valued according to the methods used in valuing similar securities held by life insurance companies. Any foreign society permitted or seeking to do business […]
Every society which is one hundred percent (100%) solvent according to the requirements of Section 83-29-43 in respect of the whole society, or of a class or section thereof, shall collect sufficient periodical or other contributions from the members of the society, or of such class or section thereof, which, with interest accretions, are sufficient […]
Seven (7) or more persons, citizens of the United States and a majority of whom are citizens of this state, who desire to form a fraternal benefit society, as defined by this chapter, may make, sign, giving their addresses, and acknowledge, before some officer competent to take acknowledgment of deeds, article of incorporation in which […]
Any society now engaged in transacting business in this state may exercise all of the rights conferred hereby and all of the rights, powers, and privileges now exercised or possessed by it under its charter or articles of incorporation not inconsistent with this chapter, if incorporated. Any such domestic society may, upon filing notice thereof […]
No domestic society shall merge with or accept the transfer of the membership or funds of any other society unless such merger or transfer is evidenced by a contract in writing, setting out in full the terms and conditions of such merger or transfer and filed with the commissioner of insurance of this state, together […]
Societies which are now authorized to transact business in this state may continue such business until the first day of January next succeeding the adoption of this chapter, and the authority of such societies may hereafter be renewed annually, but in all cases to terminate on the first day of the succeeding January; provided, however, […]
No foreign society not now authorized to transact business in this state shall transact any business herein without a license from the commissioner of insurance. Any such society shall be entitled to transact business within this state upon filing with the commissioner a duly certified copy of its charter or articles of association; a copy […]
Any society having a supreme governing or legislative body and subordinate lodges or branches by whatever name known, into which members shall be admitted in accordance with its constitution, laws, ritual, rules, and regulations, and which shall be required by the laws of such society to hold periodical meetings, shall be deemed to be operating […]
Every society, whether domestic or foreign, now transacting business in this state and every such society hereafter applying for admission shall, before being licensed, appoint in writing the Commissioner of Insurance and his successors in office to be its true and lawful attorney on whom all legal process in any action or proceeding against it […]
Any domestic society may provide that the meetings of its legislative or governing body may be held in any state, district, province, or territory wherein such society has subordinate branches, and all business transacted at such meetings shall be as valid in all respects as if such meetings were held in this state; but its […]
Officers and members of the supreme, grand, or any subordinate body of any such incorporated society shall not be individually liable for the payment of any disability or death benefit provided in the laws and agreements of such society; but the same shall be payable only out of the funds of such society and in […]
The constitution and laws of the society may provide that no subordinate body, nor any of its subordinate officers or members, shall have the power or authority to waive any of the provisions of the laws and constitution of the society, and the same shall be binding on the society and each and every member […]
No money or other benefit, charity, relief, or aid to be paid, provided, or rendered by any such society shall be liable to attachment, garnishment, or other process, or be seized, taken, appropriated, or applied by any legal or equitable process or operation of law to pay any debt or liability of a member or […]
Every society transacting business under this chapter shall file with the commissioner of insurance a duly certified copy of all amendments of or additions to its constitution and laws within ninety days (90) after the enactment of the same. Printed copies of the constitution and laws as amended, changed, or added to, certified by the […]
Every society transacting business in this state shall annually, on or before the first day of March, file with the commissioner of insurance, in such form as he may require, a statement under oath of its president and secretary, or corresponding officers, of its condition and standing on the thirty-first day of December last preceding […]
The Commissioner of Insurance, or any person or persons he may appoint, shall have the power of visitation and examination into the affairs of any domestic society. They shall have free access to all the books, papers, and documents that relate to the business of the society. The expenses of such examination shall be paid […]
