§ 83-30-47. Taxation
Every 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 every state, county, district, municipal and state tax other than license taxes as defined by Section 27-15-83 and ad valorem taxes on real estate, office equipment and motor […]
§ 83-30-49. Valuation
Standards of valuation for certificates issued prior to one (1) year after July 1, 2001, shall be those provided by the laws applicable immediately prior to July 1, 2001. The minimum standards of valuation for certificates issued on or after one (1) year from July 1, 2001, shall be based on the following tables: For […]
§ 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 […]
§ 83-30-23. 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 […]