No application for injunction against or proceeding for the dissolution of or the appointment of a receiver for any such domestic society or branch thereof shall be entertained by any court in this state unless the same is made by the attorney general or the commissioner of insurance.
The commissioner of insurance, or any person or persons whom he may appoint, may examine any foreign society transacting or applying for admission to transact business in this state. They shall have free access to all the books, papers, and documents that relate to the business of the society. He may, in his discretion, accept […]
Any society shall be deemed to have a representative form of government when it shall provide in its constitution and laws for a supreme legislative or governing body, composed of representatives elected either by the members or by delegates elected directly or indirectly by the members, together with such other members as may be prescribed […]
Pending, during, or after an examination or investigation of such society, either domestic or foreign, the commissioner of insurance shall make public no financial statement, report, or finding, nor shall he permit to become public any financial statement, report, or finding affecting the status, standing, or rights of any such society until a copy thereof […]
When the commissioner of insurance on investigation is satisfied that any foreign society transacting business under this chapter has exceeded its powers, or has failed to comply with any provisions of this chapter, or is conducting business fraudulently, or is not carrying out its contracts in good faith, he shall notify the society of his […]
Nothing contained in this chapter shall be construed to affect or apply to grand or subordinate lodges of Masons, Odd Fellows, or Knights of Pythias exclusive of the insurance department of the supreme lodge Knights of Pythias, and the Junior Order of United American Mechanics exclusive of beneficiary degree or insurance branch of the National […]
Every fraternal benefit society organized or licensed under this chapter is hereby declared to be a charitable and benevolent institution; and all of its funds shall be exempt from all and every state, county, district, municipal and state tax other than insurance license taxes as defined by Section 27-15-83 and ad valorem taxes on real […]
Any person, officer, member, or examining physician of any society authorized to do business under this chapter who shall knowingly or wilfully make any false or fraudulent statement or representation in or with reference to any application for membership, or for the purpose of obtaining money from or benefit in any society transacting business under […]
All fraternal benefit societies domiciled in or incorporated under the laws of Mississippi, or whose principal place of business is therein, shall be required to give a bond in some surety company licensed in Mississippi or in approved securities consisting of bonds of some municipality, county, levee board, or of the State of Mississippi. The […]
Said bond shall be conditioned to pay any judgment entered up against any such society in any court of competent jurisdiction in this state, and such judgment shall be a lien upon the bond or securities. The judgment creditor shall have the right to bring suit on said bond for the satisfaction of the judgment […]
Domestic societies delinquent with their beneficiaries for death claims must show an improvement by annually decreasing the amount of same not less than five percent (5%). Failure to do so shall subject them to a revocation of their license.
All fraternal societies incorporated under the laws of this state, or operating herein, or whose principal place of business is in this state, shall provide a separate fund from which to pay expenses, which shall not exceed for established societies more than twenty percent (20%) of total collections, nor more than twenty-five percent (25%) during […]
If a judgment shall be rendered by any court in this state against any fraternal order and such judgment shall not be paid and satisfied within ninety (90) days after the same shall have become final, it shall be the imperative duty of the insurance commissioner, immediately upon being advised that such judgment has not […]
Except as herein provided, such societies shall be governed by this chapter and shall be exempt from all provisions of the insurance laws of this state, not only in governmental relations with the state but for every other purpose. No law hereafter enacted shall apply to them unless they be expressly designated therein.
Any fraternal benefit society organized and doing business under the laws of this state may be converted into a stock life or stock life and disability company upon the terms and conditions as follows: Whenever the supreme governing legislative body of any fraternal benefit society incorporated under the laws of this state shall, by a […]
Any fraternal benefit society organized under the laws of this state, or doing business in this state, may issue certificates for the payment of sick, death, or annuity benefits upon the lives of children between the ages of one (1) and eighteen (18) years who have been examined and approved in accordance with the laws […]
Such society shall not issue any such benefit certificate until after it shall have simultaneously put in force at least five hundred (500) such certificates, on each of which at least one (1) assessment has been paid, nor where the number of lives represented by such certificate falls below five hundred (500).
Every society transacting business under this chapter may provide for the payments of benefits upon the death of its members either within a term of years or at any time, may provide for benefits payable upon its members reaching seventy (70) years of age, may also provide for the payment of benefits in case of […]
