(1) The operating and administrative expenses of any corporation, including, but not limited to, all costs in connection with the solicitation of subscribers to such a corporation and capital expenditures, shall not exceed: Thirty percent (30%) of paid subscriptions during the first year of operation;
(2) Twenty-five percent (25%) of paid subscriptions during the second year of operation; and
(3) Twenty percent (20%) of paid subscriptions in any year thereafter.
(4) Every corporation heretofore incorporated shall maintain unearned subscription charges and other reserves upon the same basis as that required of domestic insurance companies transacting accident and health insurance.
(5) The reserves required under this section constitute a liability of the corporation in a determination of its financial condition.
(6) The funds for any corporation shall be invested as provided for insurers under §§ 23-63-801 — 23-63-833 and 23-63-835.