Every subscription to the capital stock of a corporation in the process of organization shall contain a stipulation that no sum shall be used for promotion or organization expense in excess of a stated percent of the amount paid upon the subscription. Such sum shall in no event exceed the percentage permitted by law. All sums paid by subscribers shall be held or invested in the manner described in the corporation’s application for approval to solicit subscriptions required by section 44-208.01, and no sums may be disbursed by the corporation except for commissions or other promotion or organization expenses until the corporation has procured a certificate of authority from the Department of Insurance. Every subscription for stock, and every application for membership or for insurance made prior to the date the corporation is authorized to write insurance, shall contain a stipulation that the consideration paid by the subscriber or applicant shall be returned to him without any deduction except for organization and promotion expenses actually incurred, in no event to exceed the maximum permitted by law, in case the corporation fails to complete its organization and procure its certificate of authority, or issue the policy applied for.