§ 83-30-35. Benefits not attachable
No money or other benefit, charity, relief or aid to be paid, provided or rendered by any society, shall be liable to attachment, garnishment or other process, or to 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 […]
§ 83-30-37. The benefit contract
Every society authorized to do business in this state shall issue to each owner of a benefit contract a certificate specifying the amount of benefits provided thereby. The certificate, together with any riders or endorsements attached thereto, the laws of the society, the application for membership, the application for insurance and declaration of insurability, if […]
§ 83-30-39. Nonforfeiture benefits, cash surrender values, certificate loans and other options
For certificates issued prior to one (1) year after July 1, 2001, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall comply with the provisions of law applicable immediately prior to July 1, 2001. For certificates issued on or after one (1) year […]
§ 83-30-41. Investments
A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of life insurers, and such securities shall be valued accordingly to the methods used in valuing similar securities held by life insurers. Any foreign or alien society permitted or seeking to […]
§ 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 […]
§ 83-30-27. Consolidations and mergers
A domestic society may consolidate or merge with any other society by complying with the provisions of this section. It shall file with the commissioner: A certified copy of the written contract containing in full the terms and conditions of the consolidation or merger; A sworn statement by the president and secretary or corresponding officers […]
§ 83-30-29. Conversion of fraternal benefit society into a mutual or stock insurer
Any domestic fraternal benefit society organized and doing business under the laws of this state may be converted and licensed as a mutual life or mutual life and disability insurance company by compliance with all the requirements of Section 83-31-15. Any fraternal benefit society organized and doing business under the laws of this state may […]
§ 83-30-3. Lodge system
A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated or admitted in accordance with its laws, rules and ritual. Subordinate lodges shall be required by the laws of the society to hold regular meetings at least once in each month […]
§ 83-30-5. Representative form of government
A society has a representative form of government when: It has a supreme governing body constituted in one of the following ways: Assembly. The supreme governing body is an assembly composed of delegates elected directly by the members or at intermediate assemblies or conventions of members or their representatives, together with other delegates as may […]