Sec. 8.
Corporations in pursuance of this act shall not be considered as engaged in the business of life insurance, nor shall they be subject to the provisions of the statute relating to life insurance companies or associations: Provided, Nothing in this act contained shall permit the making of any contract of insurance except that societies organized hereunder may make provisions for the payment of a funeral benefit of not to exceed 200 dollars.
History: 1901, Act 71, Imd. Eff. Apr. 18, 1901 ;-- CL 1915, 10623 ;-- CL 1929, 10831 ;-- CL 1948, 457.688