Title 83, Insurance

The constitution and 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 and constitution of the society, and the same shall be binding on the societ…

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

Every society transacting business under this chapter shall file with the commissioner of insurance a duly certified copy of all amendments of or additions to its constitution and laws within ninety days (90) after the enactment of the same. Printed copies of the constitution and…

(1) Every society transacting business in this state shall annually, on or before the first day of March, file with the commissioner of insurance, in such form as he may require, a statement under oath of its president and secretary, or corresponding officers, of its condition an…

The Commissioner of Insurance, or any person or persons he may appoint, shall have the power of visitation and examination into the affairs of any domestic society. They shall have free access to all the books, papers, and documents that relate to the business of the society. The…

No application for injunction against or proceeding for the dissolution of or the appointment of a receiver for any such domestic society or branch thereof shall be entertained by any court in this state unless the same is made by the attorney general or the commissioner of insur…

The commissioner of insurance, or any person or persons whom he may appoint, may examine any foreign society transacting or applying for admission to transact business in this state. They shall have free access to all the books, papers, and documents that relate to the business o…

Any society shall be deemed to have a representative form of government when it shall provide in its constitution and laws for a supreme legislative or governing body, composed of representatives elected either by the members or by delegates elected directly or indirectly by the …

Pending, during, or after an examination or investigation of such society, either domestic or foreign, the commissioner of insurance shall make public no financial statement, report, or finding, nor shall he permit to become public any financial statement, report, or finding affe…

When the commissioner of insurance on investigation is satisfied that any foreign society transacting business under this chapter has exceeded its powers, or has failed to comply with any provisions of this chapter, or is conducting business fraudulently, or is not carrying out i…

Nothing contained in this chapter shall be construed 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 Mechanics ex…

Every fraternal benefit 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 all and every state, county, district, municipal and state tax other than insurance license taxes a…

Any person, officer, member, or examining physician of any society authorized to do business under this chapter who shall knowingly or wilfully make any false or fraudulent statement or representation in or with reference to any application for membership, or for the purpose of o…

All fraternal benefit societies domiciled in or incorporated under the laws of Mississippi, or whose principal place of business is therein, shall be required to give a bond in some surety company licensed in Mississippi or in approved securities consisting of bonds of some munic…

Said bond shall be conditioned to pay any judgment entered up against any such society in any court of competent jurisdiction in this state, and such judgment shall be a lien upon the bond or securities. The judgment creditor shall have the right to bring suit on said bond for th…

Domestic societies delinquent with their beneficiaries for death claims must show an improvement by annually decreasing the amount of same not less than five percent (5%). Failure to do so shall subject them to a revocation of their license.

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%)…

If a judgment shall be rendered by any court in this state against any fraternal order and such judgment shall not be paid and satisfied within ninety (90) days after the same shall have become final, it shall be the imperative duty of the insurance commissioner, immediately upon…

Except as herein provided, such societies shall be governed by this chapter and shall be exempt from all 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 unl…

Any fraternal benefit society organized and doing business under the laws of this state may be converted into a stock life or stock life and disability company upon the terms and conditions as follows: Whenever the supreme governing legislative body of any fraternal benefit socie…

Any fraternal benefit society organized under the laws of this state, or doing business in this state, may issue certificates for the payment of sick, death, or annuity benefits upon the lives of children between the ages of one (1) and eighteen (18) years who have been examined …

Such society shall not issue any such benefit certificate until after it shall have simultaneously put in force at least five hundred (500) such certificates, on each of which at least one (1) assessment has been paid, nor where the number of lives represented by such certificate…

(1) Every society transacting business under this chapter may provide for the payments of benefits upon the death of its members either within a term of years or at any time, may provide for benefits payable upon its members reaching seventy (70) years of age, may also provide fo…

Any incorporated society, order or supreme lodge, without capital stock, including one exempted under the provisions of Section 83-30-73(1) whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge…

(1) A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated or admitted in accordance with its laws, rules and ritual. Subordinate lodges shall be required by the laws of the society to hold re…

(a) A society has a representative form of government when:(a) It has a supreme governing body constituted in one of the following ways:(i) Assembly. The supreme governing body is an assembly composed of delegates elected directly by the members or at intermediate assemblies or c…

(a) Whenever used in this chapter:(a) “Benefit contract” shall mean the agreement for provision of benefits authorized by Section 83-30-31, as that agreement is described in Section 83-30-37(1).(b) “Benefit member” shall mean an adult member who is designated by the laws or rules…

(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…