All fraternal societies incorporated under the laws of this state, or operating herein, or whose principal place of business is in this state, shall provide a separate fund from which to pay expenses, which shall not exceed for established societies more than twenty percent (20%) of total collections, nor more than twenty-five percent (25%) during the period of organization. Where practicable, the mortality funds shall be kept separate from other funds and be used only for the purpose of paying death benefits.
Structure Mississippi Code
Chapter 29 - Fraternal Societies
§ 83-29-1. Fraternal benefit societies defined
§ 83-29-3. Lodge system defined
§ 83-29-5. Representative form of government defined
§ 83-29-11. Members and beneficiaries
§ 83-29-25. Mergers and transfers
§ 83-29-29. Admission of foreign society
§ 83-29-31. Power of attorney and service of process
§ 83-29-35. No personal liability
§ 83-29-37. Waiver of the provisions of the laws
§ 83-29-39. Benefit not attachable
§ 83-29-41. Constitution and laws
§ 83-29-45. Examination of domestic societies
§ 83-29-47. Application for receiver, etc.
§ 83-29-49. Examination of foreign societies
§ 83-29-51. No adverse publications
§ 83-29-53. Revocation of license
§ 83-29-55. Certain societies not affected
§ 83-29-61. Fraternal benefit societies must give bond
§ 83-29-63. Suit and judgment on bond
§ 83-29-65. Society must make up all delinquencies
§ 83-29-67. Separate expense fund must be provided
§ 83-29-69. Authority of fraternal orders revoked for failure to pay judgments
§ 83-29-71. Conversion of fraternal benefit societies into stock companies
§ 83-29-73. Fraternal societies may insure children
§ 83-29-75. Conditions under which certificates to be issued