Home Mutual Benefit Ass'n v. Rowland

Appellant' is a fraternal benefit society, organized under the laws of the State of Arkansas. It does business on what the attorneys in the case designate as the pro rata assessment plan, no surplus funds being accumulated, but the members are grouped together in “circles,” according to age,' and when a death occurs an assessment is levied on the members of the particular circle to which the deceased belonged.

• The policy, or benefit certificate, as well as the bylaws, specify the maximum amount of the benefit to be the sum of $1,000, but the certificate refers to the by-laws, which provide…