§ 10-14-704. Penalties
[ Editor’s note: This version of subsection (1) is effective until March 1, 2022.] Any person, officer, member, or examining physician of any society authorized to do business under this article who knowingly or willfully makes any false or fraudulent statement or representation in or with reference to any application for membership, or for the […]
§ 10-14-705. Exemption of Certain Societies
Nothing in this article shall be construed to affect or apply to: Grand or subordinate lodges of masons, odd fellows, or knights of Pythias (exclusive of the insurance department of the supreme lodge knights of Pythias) or the junior order of united American mechanics (exclusive of the beneficiary degree or insurance branch of the national […]
§ 10-14-609. Suspension – Revocation – Denial of License of Foreign or Alien Society
The commissioner shall notify a foreign or alien society of any of the deficiencies specified in this subsection (1) and state in writing the reasons for the commissioner’s dissatisfaction when the commissioner, upon investigation, finds that a foreign or alien society transacting or applying to transact business in this state: Has exceeded its powers; Has […]
§ 10-14-610. Injunction
No application or petition for injunction in proceedings for, the dissolution of, or the appointment of a receiver for any domestic, foreign, or alien society or lodge thereof shall be recognized in any court of this state unless made by the attorney general upon request of the commissioner. Source: L. 93: Entire article amended with […]
§ 10-14-611. Licensing of Agents
Agents of societies shall be licensed in accordance with the statutory provisions regulating the licensing, revocation, suspension, or termination of a license of resident and nonresident agents as provided in part 4 of article 2 of this title, and subject to the exceptions provided in section 10-2-401 (3). Source: L. 93: Entire article amended with […]
§ 10-14-501. Investments
A society shall invest its funds only in such investments as are authorized by the statutes of this state including but not limited to sections 10-3-210 to 10-3-242 and part 8 of article 3 of this title for the investment of the assets of life insurers. Source: L. 93: Entire article amended with relocations, p. […]
§ 10-14-612. Unfair Methods of Competition and Unfair and Deceptive Acts and Practices
Every society authorized to do business in this state shall be subject to the provisions of part 11 of article 3 of this title relating to unfair insurance trade practices; except that nothing in such provisions shall be construed as applying to or affecting the right of any society to determine its eligibility requirements for […]
§ 10-14-502. Funds
All assets shall be held, invested, and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit contract. A society may create, maintain, invest, disburse, […]
§ 10-14-701. Service of Process
Societies authorized to do business in this state shall be subject to the same provisions and requirements regarding service of process as life insurers in accordance with section 10-3-107. Source: L. 93: Entire article amended with relocations, p. 607, § 1, effective July 1. Editor’s note: This section is similar to former § 10-14-118 as […]
§ 10-14-503. Exemptions
Except as provided in this section, societies shall be governed by the provisions of this article and shall be exempt from all other provisions of the insurance statutes of this state unless the terms of such statutes expressly apply to societies, or unless any such insurance statute is specifically made applicable to societies by this […]