2168 ARTICLE 48A

An. Code, 1924, sec. 152. 1922, ch. 492, sec. 149. 1935, ch. 370, sec. 152.

186. (Qualifications for Membership.) Any association may admit to
beneficial membership, upon such showing of eligibility as its constitution
and laws may provide, any person not less than sixteen and not more than
sixty years of age. Nothing herein contained shall prevent such association
from accepting general or social members.

An. Code, 1924, sec. 153. 1922, ch. 492, see. 150. 1935, ch. 370, sec. 153.

187. (Certificate.) Every certificate issued by any such association
shall be in such form as its constitution and laws may provide and shall
specify the amount and nature of benefit provided thereby, and the certifi-
cate, the charter or articles of incorporation, or, if a voluntary association,
the articles of association, the constitution and laws of the association and
the application for membership, signed by the applicant, and all amend-
ments to each thereof, shall constitute the agreement between the association
and the member and the copies of the same certified by the secretary of the
association or corresponding officer, shall be received in evidence of the
terms and conditions thereof, and any changes, additions or amendments
to said charter or articles of incorporation or articles of association, if a
voluntary association, constitution or laws duly made or enacted subse-
quent to the issuance of the benefit certificate shall bind the member and
his beneficiaries, and shall govern and control the agreement in all respects
the same as though such changes, additions or amendments had been made
prior to and were in force at the time of the application for membership.

An. Code, 1924, sec. 154. 1922, ch. 492, sec. 151. 1935, ch. 370, sec. 154.

188. (Funds.) Any association may create, maintain, invest, disburse
and apply an emergency, surplus or other similar funds in accordance with
its laws and accumulated funds over and above the amount required to
maintain the reserves on all outstanding benefit certificates of such associa-
tion shall be available for expense of operation, maintenance of homes,
sanatoria, recreation centers, and for the payment of dividends or refunds
to its members. Unless otherwise provided in the contract, such funds shall
be held, invested and disbursed for the use and benefit of the association,
and no member or beneficiary shall have or acquire individual rights there-
in or become entitled to any apportionment or the surrender of any part
thereof, except as provided in Section 184 of this Article. The funds from
which benefit shall be paid and the funds from which the expenses of the
association shall be defrayed, shall be derived from periodical payments by
the members of the association, and accretions of said funds; provided,
that no association, domestic or foreign, shall hereafter be incorporated or
admitted to transact business in this State, which does not provide for
stated periodical contributions sufficient to provide for mortuary obligations
contracted, when valued 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 with interest assumption not more than
four per cent, per annum, nor write or accept members for temporary or
permanent disability benefits except upon tables based upon reliable experi-
ence, with an interest assumption not higher than four per cent, per annum.

An. Code, 1924, sec. 155. 1922, ch. 492, sec. 152.

189. (Deferred Payments.) Deferred payments or installments of
claims shall be considered as fixed liabilities on the happening of the con-