A society may provide the following contractual benefits as authorized by the certificate of authority issued: Death benefits; Endowment benefits; Annuity benefits; Temporary or permanent disability benefits; Hospital, medical, or nursing benefits; Monument or tombstone benefits to the memory of deceased members; and Such other benefits as authorized for life insurers and which are not […]
The owner of a benefit contract shall have the right at all times to change the beneficiary in accordance with the governing documents of the society unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevocable. A society may, through its governing documents, limit the scope of beneficiary […]
No money or other benefit, charity, relief, or aid to be paid, provided, or rendered by any society shall be liable to attachment, garnishment, or other process or to be seized, taken, appropriated, or applied by any legal or equitable process or operation of law to pay any debt or liability of a member, beneficiary, […]
Every society authorized to do business in this state shall issue to each owner of a benefit contract a certificate specifying the amount of benefits provided pursuant thereto. The certificate, together with any riders or endorsements attached thereto, the governing documents of the society, the application for membership, the application for insurance and declaration of […]
For certificates issued prior to July 1, 1994, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted shall comply with the statutory provisions applicable immediately prior to July 1, 1993. For certificates issued on or after July 1, 1994, each certificate shall provide for […]
