Section 83-29-1 - Fraternal benefit societies defined

Any corporation, society, order, or voluntary association without capital stock, organized and carried on solely for the mutual benefit of its members and their beneficiaries and not for profit, and having less than Thirty Thousand Dollars ($30,000.00) in total annual written premium, having a lodge system and representative form of government, or which limits its membership to a secret fraternity having a lodge system and representative form of government, and which shall make provision for the payment of benefits in accordance with Section 83-29-9 is hereby declared to be a fraternal benefit society.Codes, 1930, § 5231; 1942, § 5745; Laws, 2001, ch. 362, § 42, eff. 7/1/2001.