The maximum premium payable by any member shall be expressed in the policy or in the application for the insurance. Such maximum premium may be a cash premium and an additional contingent premium not less than the cash premium, or may be solely a cash premium. No policy shall be issued for a cash premium without an additional contingent premium unless the company has a surplus which is not less in amount than the capital stock required of domestic stock insurance companies transacting the same kind of insurance.
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