§ 58-11-5. Contracts must accord with charter and bylaws.
§58‑11‑5. Contracts must accord with charter and bylaws.
Every policy or certificate orrenewal receipt issued to a resident of this State by any corporation,association, or order transacting therein the business of insurance upon theassessment plan must be in accord with the provisions of the charter and bylawsof such corporation, association, or order, as filed with the Commissioner. Itis unlawful for any such domestic or foreign insurance company or fraternalorder to transact or offer to transact any business not authorized by theprovisions of its charter and terms of its bylaws, or, through an agent orotherwise, to offer or issue any policy, renewal certificate, or other contractwhose terms are not in clear accord with the powers, terms, and stipulations ofits charter and bylaws. (1899, c. 54, s. 84; 1903, c. 438, s. 9; Rev., s.4791; C.S., s. 6357; 1991, c. 720, s. 4.)