Section 27-34-49 – Consolidation or Merger – Effect.
Section 27-34-49 Consolidation or merger – Effect. Upon the consolidation or merger effective as provided in Section 27-34-48, all the rights, franchises, and interests of the consolidated or merged societies in, and to, every species of property, real, personal, or mixed, and things in action thereunto belonging shall be vested in the society resulting from, […]
Section 27-34-34 – Assets; Funds; Expenses.
Section 27-34-34 Assets; funds; expenses. (a) 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 or the surrender of any part thereof except as provided in the contract. (b) A […]
Section 27-34-50 – Actions to Enjoin or in Quo Warranto; Liquidation; Receivership.
Section 27-34-50 Actions to enjoin or in quo warranto; liquidation; receivership. (a) When the commissioner upon investigation finds that a domestic society: (1) Has exceeded its powers; or (2) Has failed to comply with any provision of this chapter; or (3) Is not fulfilling its contracts in good faith; or (4) Has a membership of […]
Section 27-34-35 – Investments.
Section 27-34-35 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 subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this state which invests its funds in […]
Section 27-34-51 – Applications for Injunctions.
Section 27-34-51 Applications for injunctions. No application or petition for injunction against any domestic, foreign, or alien society, or branch thereof, shall be recognized in any court of this state unless made by the Attorney General upon request of the commissioner. (Acts 1971, No. 407, p. 707, §723.)
Section 27-34-36 – Annual Statements – Requirements.
Section 27-34-36 Annual statements – Requirements. (a) Report shall be filed and synopses of annual statements shall be published in accordance with the provisions of this section. (b) 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 […]
Section 27-34-52 – Review of Decisions and Findings of Commissioner.
Section 27-34-52 Review of decisions and findings of commissioner. All decisions and findings of the commissioner made under the provisions of this chapter shall be subject to review by the court in accordance with the provisions of Section 27-2-32. (Acts 1971, No. 407, p. 707, §724.)
Section 27-34-37 – Annual Statements – Valuation of Certificates; Reserves.
Section 27-34-37 Annual statements – Valuation of certificates; reserves. (a) As a part of the annual statement required under Section 27-34-36, each society shall, on or before March 1, file with the commissioner a valuation of its certificates in force on December 31 last preceding; provided, however, that the commissioner may, in his discretion for […]
Section 27-34-53 – False Statements.
Section 27-34-53 False statements. Any person who willfully makes a false statement of any material fact or thing in a sworn statement as to the death or disability of a certificate holder in any fraternal benefit society, for the purpose of procuring payment of a benefit named in the certificate of such holder, and any […]
Section 27-34-38 – Annual Statements – Failure to File.
Section 27-34-38 Annual statements – Failure to file. A society neglecting to file the annual statement in the form and within the time provided by this chapter shall forfeit $100.00 for each day during which such neglect continues; and, upon notice by the commissioner to that effect, its authority to do business in this state […]