Title 83, Insurance

(1) A society shall operate for the benefit of members and their beneficiaries by:(a) Providing benefits as specified in Section 83-30-31; and(b) Operating for one or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes…

(1) A society shall specify in its laws or rules:(a) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age fifteen (15) and not greater …

(1) The principal office of any domestic society shall be located in this state. The meetings of its supreme governing body may be held in any state, district, province or territory wherein such society has at least one (1) subordinate lodge, or in such other location as determin…

(1) The officers and members of the supreme governing body or any subordinate body of a society shall not be personally liable for any benefits provided by a society. (2) Any person may be indemnified and reimbursed by any society for expenses reasonably incurred by, and liabilit…

The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members shall have the power or authority to waive any of the provisions of the laws of the society. Such provision shall be binding on the society and every member and beneficiar…

(a) A domestic society organized on or after July 1, 2001, shall be formed as follows:(a) Seven (7) or more citizens of the United States, a majority of whom are citizens of this state, who desire to form a fraternal benefit society, may make, sign and acknowledge before some off…

(1) A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body at any regular or special meeting thereof or, if its laws so provide, by referendum. Such referendum may be held in accordance with the provisions of its la…

A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by Section 83-30-9(1)(b). Such institutions may furnish services free or at a reasonable charge. Any real or personal property owne…

(1) A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer (other than another fraternal benefit society) having the power to make such reinsurance and authorized to do business in this state, or if not so authorize…

(1) A domestic society may consolidate or merge with any other society by complying with the provisions of this section. It shall file with the commissioner:(a) A certified copy of the written contract containing in full the terms and conditions of the consolidation or merger;(b)…

(1) Any domestic fraternal benefit society organized and doing business under the laws of this state may be converted and licensed as a mutual life or mutual life and disability insurance company by compliance with all the requirements of Section 83-31-15. (2) Any fraternal benef…

(1) A society may provide the following contractual benefits in any form:(a) Death benefits;(b) Endowment benefits;(c) Annuity benefits;(d) Temporary or permanent disability benefits;(e) Hospital, medical or nursing benefits;(f) Funeral benefits;(g) Monument or tombstone benefits…

(1) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or rules of the society unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevo…

No money or other benefit, charity, relief or aid to be paid, provided or rendered by any society, shall be liable to attachment, garnishment or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or…

(1) Every society authorized to do business in this state shall issue to each owner of a benefit contract a certificate specifying the amount of benefits provided thereby. The certificate, together with any riders or endorsements attached thereto, the laws of the society, the app…

(1) For certificates issued prior to one (1) year after July 1, 2001, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall comply with the provisions of law applicable immediately prior to July 1, 2001. (2…

A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of life insurers, and such securities shall be valued accordingly to the methods used in valuing similar securities held by life insurers. Any foreig…

(1) All assets shall be held, invested and disbursed for the use and benefit of the society and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit…

Except as herein provided, societies shall be governed by this chapter and shall be exempt from all other provisions of the insurance laws of this state, not only in governmental relations with the state but for every other purpose. No law hereafter enacted shall apply to them un…

Every society organized or licensed under this chapter is hereby declared to be a charitable and benevolent institution, and all of its funds shall be exempt from every state, county, district, municipal and state tax other than license taxes as defined by Section 27-15-83 and ad…

(1) Standards of valuation for certificates issued prior to one (1) year after July 1, 2001, shall be those provided by the laws applicable immediately prior to July 1, 2001. (2) The minimum standards of valuation for certificates issued on or after one (1) year from July 1, 2001…

(1) Every society transacting business in this state shall annually, on or before March 1, unless for cause shown such time has been extended by the commissioner, file with the commissioner a true statement of its financial condition, transactions and affairs for the preceding ca…

Societies which are now authorized to transact business in this state may continue such business until the first day of January next succeeding July 1, 2003, and the authority of such societies may hereafter be renewed annually, but in all cases to terminate on the first day of t…

(1) The commissioner, or any person he or she may appoint, may examine any domestic, foreign or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign or alien insurers. Requirem…

(a) No foreign or alien society shall transact business in this state without a license issued by the commissioner. Any such society desiring admission to this state shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies.…

(1) When the commissioner upon investigation finds that a domestic society:(a) Has exceeded its powers;(b) Has failed to comply with any provision of this chapter;(c) Is not fulfilling its contracts in good faith;(d) Has a membership of less than four hundred (400) after an exist…

(1) When the commissioner upon investigation finds that a foreign or alien society transacting or applying to transact business in this state:(a) Has exceeded its powers;(b) Has failed to comply with any of the provisions of this chapter;(c) Is not fulfilling its contracts in goo…

No application for injunction against or proceeding for the dissolution of or the appointment of a receiver for any domestic society, or lodge thereof, or against any foreign or alien society, shall be entertained in any court of this state unless made by the Attorney General or …

(1) Agents of societies shall be licensed in accordance with the provisions of Chapter 17 of Title 83. (2) No examination or license shall be required of any regular salaried officer, employee or member of a licensed society who devotes substantially all of his or her services to…

Every society authorized to do business in this state shall be subject to the provisions of Chapter 5 of Title 83 relating to unfair practices; provided, however, that nothing therein shall be construed as applying to or affecting the right of any society to determine its eligibi…

(1) Every society authorized to do business in this state shall appoint in writing the commissioner and each successor in office to be its true and lawful attorney upon whom all lawful process in any action or proceeding against it shall be served, and shall agree in such writing…

(1) A person who shall knowingly or willfully make any false or fraudulent statement or representation in or relating to any application for membership or for the purpose of obtaining money from or a benefit in any society, shall be guilty of a misdemeanor and upon conviction the…

(1) Nothing contained in this chapter shall be so construed as to affect or apply to grand or subordinate lodges of Masons, Odd Fellows, or Knights of Pythias exclusive of the insurance department of the supreme lodge Knights of Pythias, and the Junior Order of United American Me…

All decisions and findings of the commissioner made under the provisions of this chapter shall be subject to review as set forth in Section 83-6-41 or otherwise in Title 83 as respects the particular subject matter involved.

If any provision of this chapter or the application of such provision to any circumstance is held invalid, the remainder of the chapter or the application of the provision to other circumstances, shall not be affected thereby.