California Insurance Code

§ 11121

INS § 11121Div. 2 · Part 2 · Ch. 10 · Art. 7

Statute text

Unless it operates under Section 11120, a society, or class or section thereof, shall collect from its members both stated contributions expressly segregated for the mortuary or disability funds and stated contributions expressly segregated for the expense or management funds. Both of such contributions may be included in the member’s periodical payment to the society. The society shall not use the money in the mortuary or disability funds nor the interest accretions thereon for expense purposes.

Legislative history

Repealed and added by Stats. 1951, Ch. 1193.