A benevolent society may provide for the classification of its membership by one or more units based on the age of individual members, or by the adoption of a maximum limit of one group or unit. Before the organization of a new group or unit, the society shall notify the commissioner of its proposal to organize the group or unit, and the organization must be conducted in accordance with any applicable rules adopted by the commissioner. The number of members in a unit may not be less than is required for the organization of a society. If the membership of any group or unit of any society falls below two hundred, the group or unit must be consolidated with another group or unit of the society unless within sixty days the group or unit has restored its membership to the minimum required by this section. An age group composed of members over age sixty-five, however, may be established and maintained at not less than one hundred members.
26.1-16-15. Preliminary applications required before issuance of certificate of authority - Bank certificate - Issuance of certificate of authority. Before a benevolent society may issue a certificate of membership, it must have actual applications for certificates from at least three hundred persons upon which certificates may be issued simultaneously. The applications, together with a certificate from a solvent bank stating that there has been deposited to the account of the society an amount which is determined by the preliminary applications presented as constituting the entire proceeds of membership fees collected, must be submitted to the commissioner. Upon submission to the commissioner of the preliminary applications, the bank certificate, and any evidence of compliance with this chapter which the commissioner requires, the commissioner may issue to the society a certificate of authority to expire on the thirtieth day of April following the date thereof.
26.1-16-16. Application for and certificate of membership - Contents - Approval - Maximum benefits - Expense deductions. The certificate of membership issued by a benevolent society must state fully the conditions on which the benefit is paid. The certificate of membership and the application for the certificate constitute the entire contract between the society and the member. Every certificate and application must have printed or stamped thereon in red ink and in ten-point boldfaced type "This is not an insurance policy. The society maintains no reserve. All benefits are dependent upon voluntary assessments from members." The insurance commissioner shall approve the form of the certificate and application prior to their issuance or use. The benefits under any certificate must be confined to a death benefit to the beneficiary of the deceased member in an amount not to exceed two thousand dollars, and the certificate must provide for an assessment on the membership in an amount not exceeding four dollars to be paid by the members after notice and proof of death. The proceeds of the assessment, less an amount not exceeding ten percent thereof as an allowance for expenses, must be paid to the beneficiary of the deceased member. A death benefit may not exceed the maximum amount stated in the certificate.