All fraternal societies incorporated under the laws of this state, or operating herein, or whose principal place of business is in this state, shall provide a separate fund from which to pay expenses, which shall not exceed for established societies more than twenty percent (20%) of total collections, nor more than twenty-five percent (25%) during the period of organization. Where practicable, the mortality funds shall be kept separate from other funds and be used only for the purpose of paying death benefits.Codes, Hemingway's 1917, § 5209; 1930, § 5264; 1942, § 5778; Laws, 1916, ch. 204; Laws, 1940, ch. 207.
Mississippi Legal Code