That all burial associations now operating or that may be hereafter organized, as incorporated or nonincorporated associations, which are nonprofit sharing in their operations and pay no fees or salaries to any of their officers and have no capital stock and which comply with the provisions of this act shall be exempt from the operations and the effect of the insurance laws of the State of Oklahoma; and shall not be required to comply with the insurance laws of the said state; provided, that all monies collected by said associations shall be accounted for; provided further that not more than twenty-five percent (25%) of said funds are to be used for operating expenses, and not less than seventy-five percent (75%) of the funds so collected is to be held as a trust fund for the benefit of the members.
Associations licensed under this act shall be mutual associations and every person who applies for and holds a burial agreement shall be a member of the association, in accordance with the bylaws of the association and shall be entitled to one vote, and such members may vote in person or by proxy. Burial associations are hereby declared to be charitable and benevolent associations.
The following shall be the Uniform Article of Agreement between burial associations and their members.
ARTICLES OF AGREEMENT
Provided further that the Oklahoma State Board of Embalmers and Funeral Directors shall draft a uniform application for membership which shall be used by all burial associations operating in the State of Oklahoma, or which may be hereafter organized, said application for membership shall have printed across the face in red ink the following language: "This is not an application for life insurance." Said Board shall also provide for uniform membership fees, dues and/or assessments; the membership fee of One Dollar ($1.00) shall be the assessment for the first month in which the agreement is issued, provided the remaining dues or assessments to be not less than fifty cents ($0.50) on a monthly basis, provided, however, that twelve (12) assessments may be paid in advance for Five Dollars ($5.00) and, provided further that if the funds on hand in the trust fund are equal to fifty cents ($0.50) for each certificate in force a monthly assessment may be passed until such time as the funds in the trust are less than fifty cents ($0.50) for each certificate in force. Provided that any association now in existence charging a less sum may continue to service all certificates now in effect at existing rates specified in the certificates; and certificates which lapse, and all new certificates must be written at the uniform rate set up by this act. No burial association licensed pursuant to the provisions of this act shall have the authority to levy any assessment on its members other than the assessment expressly provided for in the Uniform Article of Agreement. All certificates of membership issued by said associations shall have printed across the face of said certificate the following language: "This is not a certificate of life insurance."
Okla. Stat. tit. 8, § 205