44-809. Membership fees; amount; purpose.

Every such association may collect, at the time of the issuing of a policy, a membership fee not exceeding five dollars, and, if insuring property, a percentage of the amount insured not exceeding two and one-half percent, as an advance assessment, as the bylaws may provide. From the amount so collected, a contingency fund may be created, and such fund may be maintained and added to from any other funds collected by the company in the manner provided in the bylaws.

Source:Laws 1913, c. 154, § 131, p. 464; R.S.1913, § 3268; Laws 1919, c. 190, tit. V, art. X, § 8, p. 645; C.S.1922, § 7867; C.S.1929, § 44-908; Laws 1931, c. 88, § 1, p. 249; C.S.Supp.,1941, § 44-908; R.S.1943, § 44-809.