Any public or private corporation, board, or association in this state or elsewhere may make application, enter into agreements for, and hold policies in any such mutual insurance company. Any officer, stockholder, trustee, or legal representative of any such corporation, board, association, or estate may be recognized as acting for or on its behalf for the purpose of such membership; but shall not be personally liable upon such contract of insurance by reason of acting in such representative capacity. The right of any corporation organized under the laws of this state to participate as a member of any such mutual insurance company is hereby declared to be incidental to the purpose for which such corporation is organized, and as much granted as the rights and powers expressly conferred.
Structure Mississippi Code
§ 83-31-3. Articles of association
§ 83-31-5. Name must contain the word "mutual."
§ 83-31-7. Commissioner of Insurance to approve articles
§ 83-31-11. Kind of insurance authorized
§ 83-31-15. Fraternal societies may be converted
§ 83-31-19. Certain companies not affected
§ 83-31-23. Corporations and associations may hold policies
§ 83-31-29. Investment of assets
§ 83-31-31. Reserves and unearned premiums
§ 83-31-33. Deficiency in assets
§ 83-31-35. Money advanced by officers or members
§ 83-31-37. Delivery of policies through licensed agents