240 CORPORATIONS. [ART. 23

vided by its constitution and laws and shall issue to each such appli-
cant a receipt for the amount so collected. But no such association
shall incur any liability other than for such advanced payments, nor
issue any benefit certificate, nor pay or allow, or offer or promise to
pay or allow to any person any death or disability benefit until actual
bona fide applications for death benefit certificates have been secured
upon at least five hundred lives for at least one thousand dollars each,
and all such applicants for death benefits shall have been regularly
examined by legally qualified practicing physicians, and certificates
of such examinations have been duly filed and approved by the chief
medical examiner of such association nor until there shall be estab-
lished ten subordinate lodges or branches into which said five hundred
applicants have been initiated, nor until there has been submitted to
the insurance commissioner under oath of the president and secretary
or corresponding officers, of such association, a list of such applicants,
giving their names, addresses, date examined, date approved, date initi-
ated, name and number of subordinate branch of which each applicant
is a member, amount of benefits to be granted, rate of stated periodical
contributions which shall be sufficient to provide for meeting the mor-
tuary obligation, contracted, when valued for death benefits, upon the
basis of the National Fraternal Congress Table of Mortality, as adopted
by the National Fraternal Congress August 23, 1899, or any higher
standard at the option of the association and for disability benefits by
tables based upon reliable experience and for combined death and per-
manent total disability benefits by tables based upon reliable experience,
with an interest assumption not higher than four per cent, per annum,
nor until it shall be shown to the insurance commissioner by the sworn
statement of the treasurer or corresponding officer of such association
that at least five hundred applicants have each paid in cash at least
one regular monthly payment as herein provided per one thousand
dollars of indemnity to be affected, which payments in the aggregate
shall amount to at least twenty-five hundred dollars, all of which shall
be credited to the mortuary or disability fund on account of such appli-
cants, and no part of which may be used for expenses.

Said advanced payments shall during the period of organization be
held, in trust, and, if the organization is not completed within one year
as hereinafter provided, returned to said applicants. The insurance
commissioner may make such examination and require such further
information as he deems advisable, and upon presentation of satisfac-.
tory evidence that the association has complied with all the provisions
of law he shall issue to such association a certificate to .that effect. Such
certificate shall be prima facie evidence of the existence of such associa-
tion at the date of such certificate. The insurance commissioner shall
cause a record.of such certificate to be made and a certified copy of
such record may be given in evidence with like effect as the original
certificate. No preliminary certificate granted under the provisions of