632.612 – Amendments to Laws.
632.612 Amendments to laws.— (1) A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body at any regular or special meeting thereof or, if its laws so provide, by referendum. Such referendum may be held in accordance with the provisions of its laws by the vote of […]
632.629 – Annual License.
632.629 Annual license.— (1) A fraternal benefit society may not transact business in this state unless authorized therefor under a subsisting license issued to the society by the office. (2) A license issued or renewed under this chapter shall continue in force as long as the society is entitled thereto under this chapter and until suspended or revoked […]
632.613 – Institutions.
632.613 Institutions.—A society may create, maintain, and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by s. 632.605(1)(b). Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held, or leased by the society for this purpose shall be reported in every annual […]
632.614 – Reinsurance.
632.614 Reinsurance.— (1) A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer, other than another fraternal benefit society, having the power to make such reinsurance and authorized to do business in this state, or if not so authorized, to an insurer which is approved […]
632.615 – Consolidations and Mergers.
632.615 Consolidations and mergers.— (1) A domestic society may not consolidate or merge with any other insurer other than another society. It may consolidate or merge with another society by complying with the provisions of this section. It shall file with the office: (a) A certified copy of the written contract containing in full the terms and conditions […]
632.616 – Conversion of Fraternal Benefit Society Into Mutual Life Insurance Company.
632.616 Conversion of fraternal benefit society into mutual life insurance company.—Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the requirements of chapter 628. A plan of conversion shall be prepared in writing by the board of directors setting forth in full the terms and […]
632.617 – Benefits.
632.617 Benefits.— (1) A society may provide the following contractual benefits: (a) Death benefits; (b) Endowment benefits; (c) Annuity benefits; (d) Temporary or permanent disability benefits; (e) Hospital, medical, or nursing benefits; (f) Monument or tombstone benefits to the memory of deceased members; and (g) Such other benefits as authorized for life insurers and which are not inconsistent with this chapter. (2) A society shall […]
632.618 – Beneficiaries.
632.618 Beneficiaries.— (1) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or rules 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 laws or rules, […]
632.602 – “Lodge System” Defined.
632.602 “Lodge system” defined.— (1) A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated, or admitted in accordance with its laws, rules, and ritual. Subordinate lodges shall be required by the laws of the society to hold regular meetings at least once […]
632.603 – “Representative Form of Government” Defined.
632.603 “Representative form of government” defined.—A society has a “representative form of government” when: (1) It has a supreme governing body constituted in one of the following ways: (a) Assembly.—The supreme governing body is an assembly composed of delegates elected directly by the members, or at intermediate assemblies or conventions of members or their representatives, together with other […]