Any director, officer, or member of any such company, or any other person, may advance to such company any sum or sums of money necessary for the purpose of its business or to enable it to comply with any of the requirements of the law. Such moneys and such interest thereon as may have been agreed upon, not exceeding ten percent (10%) per annum, shall not be a liability or claim against the company or any of its assets, except as herein provided, and shall be repaid only out of the surplus earnings of such company. No commission nor promotion expenses shall be paid in connection with the advance of any such money to the company, and the amount of such advance shall be reported in each annual statement.
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