83-29-67 - Separate expense fund must be provided. - Mississippi Statutes

§ 83-29-67. Separate expense fund must be provided.
 

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 per cent of total collections, nor more than twenty-five per cent 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. 
 

Sources: Codes, Hemingway's 1917, § 5209; 1930, § 5264; 1942, § 5778; Laws,  1916, ch. 204; Laws, 1940, ch. 207.