Requirement for licensing shall be as follows:
A deposit with any depository approved by the state for the benefit of policyholders/members in the amount of One Dollar ($1.00) for each policyholder currently insured to guarantee perpetuation of the organization until all membership contracts are terminated.
A deposit in a like amount to a catastrophe fund, but this deposit shall be made on the first renewal of each contract.
Structure Mississippi Code
Chapter 45 - Nonprofit, Community Service Blood Supply Plans
§ 83-45-1. Operation of plan as constituting the writing of insurance
§ 83-45-3. Requirement for licensing
§ 83-45-5. Approval of articles; issuance of license
§ 83-45-7. Examinations; annual reports
§ 83-45-9. Solicitation of membership