§ 83-45-1. Operation of plan as constituting the writing of insurance

The operation of a blood supply plan, on a nonprofit, community service basis, for the purpose of promoting and encouraging the donation of human blood for medicinal and transfusion uses may or may not constitute the writing of insurance. However, an agreement between such a nonprofit organization promoting and encouraging such blood donation and one […]

§ 83-45-11. Approval of general administrative expenses

General administrative expenses shall be submitted to and approved by the department of insurance.

§ 83-45-13. Dissolution

Upon dissolution of such organization, the department of insurance shall be satisfied that all policyholders/members’ claims have been paid before approving the release of deposits. In event of dissolution and surrender of articles of association and/or charter, any surplus after reimbursement of organizational funds and any other contribution to surplus shall be prorated among such […]

§ 83-45-3. Requirement for licensing

Requirement for licensing shall be as follows: A deposit with any depository approved by the state for the benefit of policyholders/members in the amount of One Dollar ($1.00) for each policyholder currently insured to guarantee perpetuation of the organization until all membership contracts are terminated. A deposit in a like amount to a catastrophe fund, […]

§ 83-45-5. Approval of articles; issuance of license

Such company or organization shall have its articles of incorporation or articles of organization approved by the attorney general and the commissioner of insurance and subsequently filed in the office of secretary of state. Filing fee for such articles shall be Five Dollars ($5.00). A license shall be issued by the commissioner of insurance to […]

§ 83-45-7. Examinations; annual reports

Any such organization shall be exempt from regular examination by the insurance department, but shall be examined when deemed advisable by the commissioner of insurance. Annual reports shall be filed with the insurance department in the manner and form prescribed by the commissioner of insurance. Upon submission of annual statements, same shall be reviewed by […]

§ 83-45-9. Solicitation of membership

Solicitation of membership may be made through direct advertising, group solicitation, by officers or by individuals without licensing of solicitors, provided this is the only insurance which is offered or solicited by the company or organization.