§ 58-24-5 – Lodge system.
58-24-5. Lodge system. (a) 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 periodically in […]
§ 58-24-110 – Exemptions.
58-24-110. Exemptions. Except as herein provided, societies shall be governed by this Article and shall be exempt from all other provisions of the general insurance laws of this State unless they be expressly designated therein, or unless it is specifically made applicable by this Article. (1987, c. 483, s. 2.)
§ 58-24-190 – Severability.
58-24-190. Severability. If any provision of this Article or the application of such provision to any circumstance is held invalid, the remainder of the Article or the application of the provision to other circumstances, shall not be affected thereby. (1987, c. 483, s. 2.)
§ 58-24-115 – Taxation.
58-24-115. Taxation. Every society organized or licensed under this Article is hereby declared to be a charitable and benevolent institution, and all of its funds shall be exempt from all and every State, county, district, municipal and school tax other than taxes on real estate not occupied by such society in carrying on its business. […]
§ 58-24-120 – Valuation.
58-24-120. Valuation. (a) Standards of valuation for certificates issued prior to one year after the effective date of this Article shall be those provided by the laws applicable immediately prior to January 1, 1988. (b) The minimum standards of valuation for certificates issued on or after one year from January 1, 1988, shall be based […]
§ 58-24-125 – Reports.
58-24-125. Reports. Reports shall be filed in accordance with the provisions of this section. (a) Every society transacting business in this State shall annually, on or before the first day of March, unless for cause shown such time has been extended by the Commissioner, file with the Commissioner a true statement of its financial condition, […]
§ 58-24-130 – Perpetual license.
58-24-130. Perpetual license. Subject to timely payment of the annual license continuation fee and subject to any other applicable provisions of the insurance laws of this State, a license, other than a preliminary license, to a fraternal benefit society under this Article shall continue in full force and effect. For each license the society shall […]
§ 58-24-135 – Examination of societies; no adverse publications.
58-24-135. Examination of societies; no adverse publications. (a) 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 […]
§ 58-24-140 – Foreign or alien society Admission.
58-24-140. 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 Article applicable to domestic societies. Any such society may be licensed to […]
§ 58-24-145 – Injunction – Liquidation – Receivership of domestic society.
58-24-145. Injunction – Liquidation – Receivership of domestic society. (a) When the Commissioner upon investigation finds that a domestic society: (1) Has exceeded its powers; (2) Has failed to comply with any provision of this Article; (3) Is not fulfilling its contracts in good faith; (4) Has a membership of less than 400 after an […]