Section 83-47-19 - Declaration of charitable status; exemption from taxation

Every corporation organized pursuant to, or subject to, the provisions of this chapter is hereby declared to be a charitable and benevolent institution, and its funds and property shall be exempt from taxation, except from the premium tax levied in accordance with the provisions of this chapter and ad valorem taxes upon real estate and motor vehicles owned by it.Laws, 1977, ch. 491, § 10; Laws, 1978, ch. 441, § 10, eff. 7/1/1978.