§ 83-30-51. Annual statement
Every society transacting business in this state shall annually, on or before March 1, unless for cause shown such time has been extended by the commissioner, file with the commissioner a true statement of its financial condition, transactions and affairs for the preceding calendar year. The statement shall be in general form and context as […]
§ 83-30-53. Annual license
Societies which are now authorized to transact business in this state may continue such business until the first day of January next succeeding July 1, 2003, 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. However, a license so […]
§ 83-30-55. Examination of societies; no adverse publications
The commissioner, or any person he or she may appoint, may examine any domestic, foreign or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign or alien insurers. Requirements of notice and an opportunity to respond before findings are made […]
§ 83-30-57. Foreign or alien society – admission
No foreign or alien society shall transact business in this state without a license issued by the commissioner. Any such society desiring admission to this state shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies. Any such society may be licensed to transact business in this state upon filing […]
§ 83-30-59. Injunction – liquidation – receivership of domestic society
When the commissioner upon investigation finds that a domestic society: Has exceeded its powers; Has failed to comply with any provision of this chapter; Is not fulfilling its contracts in good faith; Has a membership of less than four hundred (400) after an existence of one (1) year or more; or Is conducting business fraudulently […]
§ 83-30-61. Suspension, revocation or refusal of license of foreign or alien society
When the commissioner upon investigation finds that a foreign or alien society transacting or applying to transact business in this state: Has exceeded its powers; Has failed to comply with any of the provisions of this chapter; Is not fulfilling its contracts in good faith; or Is conducting its business fraudulently or in a manner […]
§ 83-30-43. Funds
All assets shall be held, invested and disbursed for the use and benefit of the society and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit contract. A society may create, maintain, invest, disburse […]
§ 83-30-45. Exemption from insurance laws
Except as herein provided, societies shall be governed by this chapter and shall be exempt from all other 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.
§ 83-30-23. Institutions
A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by Section 83-30-9(1)(b). Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in […]
§ 83-30-25. Reinsurance
A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer (other than another fraternal benefit society) having the power to make such reinsurance and authorized to do business in this state, or if not so authorized, one which is approved by the commissioner […]