TITLE 33 INSURANCE

Section 15. Fraternal Benefit Societies, 33-15-1 through 33-15-123.

ARTICLE 3 FORMATION AND PETITIONS FOR CHARTER; AMENDMENTS OF LAWS; REINSURANCE; CONSOLIDATIONS AND MERGERS; CONVERSIONS

33-15-42. Operation of not for profit institutions.

A society may create, maintain, and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by paragraph (2) of subsection (a) of Code Section 33-15-5.Such institutions may furnish services free or at a reasonable charge.Any real or personal property owned, held, or leased by the society for this purpose shall be reported in every annual statement.No society shall own or operate funeral homes or undertaking establishments.

(Code 1981, §33-15-42, enacted by Ga. L. 1993, p. 1744, § 1.)