IC 27-11-4-1 Application of chapter
Sec. 1. A domestic society organized after December 31, 1985,
shall be formed under this chapter. As added by P.L.262-1985, SEC.1.
IC 27-11-4-2 Organization of fraternal benefit society; articles of incorporation
Sec. 2. 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
officer competent to take acknowledgment of deeds and articles of
incorporation. The article of incorporation must state the following:
(1) The proposed corporate name of the society, which must not
resemble the name of any society or insurance company as to be
misleading or confusing.
(2) The purposes for which it is being formed and the mode in
which its corporate powers are to be exercised. Such purposes
may not include more liberal powers than are granted by this
article.
(3) The names and residences of the incorporators and the
names, residences, and official titles of all the officers, trustees,
directors, or other persons who are to have and exercise the
general control of the management of the affairs and funds of
the society for the first year or until the ensuing election at
which all such officers shall be elected by the supreme
governing body, which election shall be held not later than one
(1) year from the date of issuance of the permanent certificate
of authority. As added by P.L.262-1985, SEC.1.
IC 27-11-4-3 Filing of articles of incorporation, bylaws and rules, forms of
certificates, circulars, and bond
Sec. 3. Articles of incorporation, certified copies of the society's
bylaws and rules, copies of all proposed forms of certificates,
applications therefor, circulars to be issued by the society, and a
bond conditioned upon the return to applicants of the advanced
payments if the organization is not completed within one (1) year
shall be filed with the commissioner, who may require further
information as the commissioner considers necessary. The bond with
sureties approved by the commissioner shall be not less than three
hundred thousand dollars ($300,000) nor more than one million five
hundred thousand dollars ($1,500,000), as required by the
commissioner. All documents filed are to be in the English language.
If the purposes of the society conform to the requirements of this
article and all provisions of the law have been complied with, the
commissioner shall certify, retain, and file the articles of
incorporation and furnish the incorporators a preliminary certificate
of authority authorizing the society to solicit members as provided in
this chapter. As added by P.L.262-1985, SEC.1.
IC 27-11-4-4 Preliminary certificate of authority; expiration; extension
Sec. 4. No preliminary certificate of authority granted under this
section shall be valid after one (1) year from its date or after a further
period, not exceeding one (1) year, as may be authorized by the
commissioner upon cause shown, unless the five hundred (500)
applicants required in this chapter have been secured and the
organization has been completed as provided. The articles of
incorporation and all other proceedings thereunder shall become null
and void in one (1) year from the date of the preliminary certificate
of authority or at the expiration of the extended period, unless the
society has completed its organization and received a certificate of
authority to do business in Indiana. As added by P.L.262-1985, SEC.1.
IC 27-11-4-5 Solicitation of members; liabilities incurred upon receipt of
preliminary certificate
Sec. 5. Upon receipt of a preliminary certificate of authority from
the commissioner, the society may solicit members for the purpose
of completing its organization, shall collect from each applicant the
amount of not less than one (1) regular monthly premium in
accordance with its table of rates, and shall issue to each applicant a
receipt for the amount collected. No society shall incur any liability
other than for the return of the advance premium, nor issue any
certificate, nor pay, allow, or offer or promise to pay or allow any
benefit to any person until:
(1) actual bona fide applications for benefits have been secured
on not less than five hundred (500) applicants, and any
necessary evidence of insurability has been furnished to and
approved by the society;
(2) at least ten (10) subordinate lodges have been established
into which the five hundred (500) applicants have been
admitted;
(3) there has been submitted to the commissioner, under oath of
the president or secretary, or corresponding officer of the
society, a list of the applicants, giving their names, addresses,
date each was admitted, name and number of the subordinate
lodge of which each applicant is a member, amount of benefits
to be granted, and premiums therefor; and
(4) it shall have been shown to the commissioner, by sworn
statement of the treasurer, or corresponding officer of such
society, that at least five hundred (500) applicants have each
paid in cash at least one (1) regular monthly premium, which
premiums in the aggregate amount to at least one hundred fifty
thousand dollars ($150,000). The advance premiums shall be
held in trust during the period of organization and, if the society
has not qualified for a certificate of authority within one (1)
year as provided in this chapter, the premiums shall be returned
to the applicants. As added by P.L.262-1985, SEC.1.
IC 27-11-4-6 Certificate of authority
Sec. 6. The commissioner may make an examination and require
any further information as the commissioner considers advisable.
Upon presentation of satisfactory evidence that the society has
complied with all the provisions of law, the commissioner shall issue
to the society a certificate of authority authorizing the society to
transact business under this article. The certificate of authority is
prima facie evidence of the existence of the society at the date of the
certificate. The commissioner shall cause a record of the certificate
of authority to be made. A certified copy of the record may be given
in evidence with like effect as the original certificate of authority. As added by P.L.262-1985, SEC.1.
IC 27-11-4-1 Application of chapter
Sec. 1. A domestic society organized after December 31, 1985,
shall be formed under this chapter. As added by P.L.262-1985, SEC.1.
IC 27-11-4-2 Organization of fraternal benefit society; articles of incorporation
Sec. 2. 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
officer competent to take acknowledgment of deeds and articles of
incorporation. The article of incorporation must state the following:
(1) The proposed corporate name of the society, which must not
resemble the name of any society or insurance company as to be
misleading or confusing.
(2) The purposes for which it is being formed and the mode in
which its corporate powers are to be exercised. Such purposes
may not include more liberal powers than are granted by this
article.
(3) The names and residences of the incorporators and the
names, residences, and official titles of all the officers, trustees,
directors, or other persons who are to have and exercise the
general control of the management of the affairs and funds of
the society for the first year or until the ensuing election at
which all such officers shall be elected by the supreme
governing body, which election shall be held not later than one
(1) year from the date of issuance of the permanent certificate
of authority. As added by P.L.262-1985, SEC.1.
IC 27-11-4-3 Filing of articles of incorporation, bylaws and rules, forms of
certificates, circulars, and bond
Sec. 3. Articles of incorporation, certified copies of the society's
bylaws and rules, copies of all proposed forms of certificates,
applications therefor, circulars to be issued by the society, and a
bond conditioned upon the return to applicants of the advanced
payments if the organization is not completed within one (1) year
shall be filed with the commissioner, who may require further
information as the commissioner considers necessary. The bond with
sureties approved by the commissioner shall be not less than three
hundred thousand dollars ($300,000) nor more than one million five
hundred thousand dollars ($1,500,000), as required by the
commissioner. All documents filed are to be in the English language.
If the purposes of the society conform to the requirements of this
article and all provisions of the law have been complied with, the
commissioner shall certify, retain, and file the articles of
incorporation and furnish the incorporators a preliminary certificate
of authority authorizing the society to solicit members as provided in
this chapter. As added by P.L.262-1985, SEC.1.
IC 27-11-4-4 Preliminary certificate of authority; expiration; extension
Sec. 4. No preliminary certificate of authority granted under this
section shall be valid after one (1) year from its date or after a further
period, not exceeding one (1) year, as may be authorized by the
commissioner upon cause shown, unless the five hundred (500)
applicants required in this chapter have been secured and the
organization has been completed as provided. The articles of
incorporation and all other proceedings thereunder shall become null
and void in one (1) year from the date of the preliminary certificate
of authority or at the expiration of the extended period, unless the
society has completed its organization and received a certificate of
authority to do business in Indiana. As added by P.L.262-1985, SEC.1.
IC 27-11-4-5 Solicitation of members; liabilities incurred upon receipt of
preliminary certificate
Sec. 5. Upon receipt of a preliminary certificate of authority from
the commissioner, the society may solicit members for the purpose
of completing its organization, shall collect from each applicant the
amount of not less than one (1) regular monthly premium in
accordance with its table of rates, and shall issue to each applicant a
receipt for the amount collected. No society shall incur any liability
other than for the return of the advance premium, nor issue any
certificate, nor pay, allow, or offer or promise to pay or allow any
benefit to any person until:
(1) actual bona fide applications for benefits have been secured
on not less than five hundred (500) applicants, and any
necessary evidence of insurability has been furnished to and
approved by the society;
(2) at least ten (10) subordinate lodges have been established
into which the five hundred (500) applicants have been
admitted;
(3) there has been submitted to the commissioner, under oath of
the president or secretary, or corresponding officer of the
society, a list of the applicants, giving their names, addresses,
date each was admitted, name and number of the subordinate
lodge of which each applicant is a member, amount of benefits
to be granted, and premiums therefor; and
(4) it shall have been shown to the commissioner, by sworn
statement of the treasurer, or corresponding officer of such
society, that at least five hundred (500) applicants have each
paid in cash at least one (1) regular monthly premium, which
premiums in the aggregate amount to at least one hundred fifty
thousand dollars ($150,000). The advance premiums shall be
held in trust during the period of organization and, if the society
has not qualified for a certificate of authority within one (1)
year as provided in this chapter, the premiums shall be returned
to the applicants. As added by P.L.262-1985, SEC.1.
IC 27-11-4-6 Certificate of authority
Sec. 6. The commissioner may make an examination and require
any further information as the commissioner considers advisable.
Upon presentation of satisfactory evidence that the society has
complied with all the provisions of law, the commissioner shall issue
to the society a certificate of authority authorizing the society to
transact business under this article. The certificate of authority is
prima facie evidence of the existence of the society at the date of the
certificate. The commissioner shall cause a record of the certificate
of authority to be made. A certified copy of the record may be given
in evidence with like effect as the original certificate of authority. As added by P.L.262-1985, SEC.1.
IC 27-11-4-1 Application of chapter
Sec. 1. A domestic society organized after December 31, 1985,
shall be formed under this chapter. As added by P.L.262-1985, SEC.1.
IC 27-11-4-2 Organization of fraternal benefit society; articles of incorporation
Sec. 2. 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
officer competent to take acknowledgment of deeds and articles of
incorporation. The article of incorporation must state the following:
(1) The proposed corporate name of the society, which must not
resemble the name of any society or insurance company as to be
misleading or confusing.
(2) The purposes for which it is being formed and the mode in
which its corporate powers are to be exercised. Such purposes
may not include more liberal powers than are granted by this
article.
(3) The names and residences of the incorporators and the
names, residences, and official titles of all the officers, trustees,
directors, or other persons who are to have and exercise the
general control of the management of the affairs and funds of
the society for the first year or until the ensuing election at
which all such officers shall be elected by the supreme
governing body, which election shall be held not later than one
(1) year from the date of issuance of the permanent certificate
of authority. As added by P.L.262-1985, SEC.1.
IC 27-11-4-3 Filing of articles of incorporation, bylaws and rules, forms of
certificates, circulars, and bond
Sec. 3. Articles of incorporation, certified copies of the society's
bylaws and rules, copies of all proposed forms of certificates,
applications therefor, circulars to be issued by the society, and a
bond conditioned upon the return to applicants of the advanced
payments if the organization is not completed within one (1) year
shall be filed with the commissioner, who may require further
information as the commissioner considers necessary. The bond with
sureties approved by the commissioner shall be not less than three
hundred thousand dollars ($300,000) nor more than one million five
hundred thousand dollars ($1,500,000), as required by the
commissioner. All documents filed are to be in the English language.
If the purposes of the society conform to the requirements of this
article and all provisions of the law have been complied with, the
commissioner shall certify, retain, and file the articles of
incorporation and furnish the incorporators a preliminary certificate
of authority authorizing the society to solicit members as provided in
this chapter. As added by P.L.262-1985, SEC.1.
IC 27-11-4-4 Preliminary certificate of authority; expiration; extension
Sec. 4. No preliminary certificate of authority granted under this
section shall be valid after one (1) year from its date or after a further
period, not exceeding one (1) year, as may be authorized by the
commissioner upon cause shown, unless the five hundred (500)
applicants required in this chapter have been secured and the
organization has been completed as provided. The articles of
incorporation and all other proceedings thereunder shall become null
and void in one (1) year from the date of the preliminary certificate
of authority or at the expiration of the extended period, unless the
society has completed its organization and received a certificate of
authority to do business in Indiana. As added by P.L.262-1985, SEC.1.
IC 27-11-4-5 Solicitation of members; liabilities incurred upon receipt of
preliminary certificate
Sec. 5. Upon receipt of a preliminary certificate of authority from
the commissioner, the society may solicit members for the purpose
of completing its organization, shall collect from each applicant the
amount of not less than one (1) regular monthly premium in
accordance with its table of rates, and shall issue to each applicant a
receipt for the amount collected. No society shall incur any liability
other than for the return of the advance premium, nor issue any
certificate, nor pay, allow, or offer or promise to pay or allow any
benefit to any person until:
(1) actual bona fide applications for benefits have been secured
on not less than five hundred (500) applicants, and any
necessary evidence of insurability has been furnished to and
approved by the society;
(2) at least ten (10) subordinate lodges have been established
into which the five hundred (500) applicants have been
admitted;
(3) there has been submitted to the commissioner, under oath of
the president or secretary, or corresponding officer of the
society, a list of the applicants, giving their names, addresses,
date each was admitted, name and number of the subordinate
lodge of which each applicant is a member, amount of benefits
to be granted, and premiums therefor; and
(4) it shall have been shown to the commissioner, by sworn
statement of the treasurer, or corresponding officer of such
society, that at least five hundred (500) applicants have each
paid in cash at least one (1) regular monthly premium, which
premiums in the aggregate amount to at least one hundred fifty
thousand dollars ($150,000). The advance premiums shall be
held in trust during the period of organization and, if the society
has not qualified for a certificate of authority within one (1)
year as provided in this chapter, the premiums shall be returned
to the applicants. As added by P.L.262-1985, SEC.1.
IC 27-11-4-6 Certificate of authority
Sec. 6. The commissioner may make an examination and require
any further information as the commissioner considers advisable.
Upon presentation of satisfactory evidence that the society has
complied with all the provisions of law, the commissioner shall issue
to the society a certificate of authority authorizing the society to
transact business under this article. The certificate of authority is
prima facie evidence of the existence of the society at the date of the
certificate. The commissioner shall cause a record of the certificate
of authority to be made. A certified copy of the record may be given
in evidence with like effect as the original certificate of authority. As added by P.L.262-1985, SEC.1.
