Section 378.620 – Cash surrender value of certificate, computation of.
Effective – 01 Jan 1993 378.620. Cash surrender value of certificate, computation of. — 1. For certificates issued prior to one year after January 1, 1993, 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 provisions of law applicable immediately […]
Section 378.621 – Investment of funds.
Effective – 01 Jan 1993 378.621. Investment of funds. — A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in […]
Section 378.622 – Assets, use of — variable basis contracts, allowed when.
Effective – 01 Jan 1993 378.622. Assets, use of — variable basis contracts, allowed when. — 1. 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 […]
Section 378.623 – Application of law — exemption from insurance laws.
Effective – 01 Jan 1993 378.623. Application of law — exemption from insurance laws. — Except as herein provided, societies shall be governed by this chapter and shall be exempt from all other provisions of the insurance laws of this state, except chapters 374 and 375, not only in governmental relations with this state, but […]
Section 378.607 – Principal office, meetings, location — official publication, annual statement, requirements.
Effective – 01 Jan 1993 378.607. Principal office, meetings, location — official publication, annual statement, requirements. — 1. The principal office of any domestic society shall be located in this state. The meetings of its supreme governing body may be held in any state, district, province or territory wherein such society has at least one […]
Section 378.608 – Liability, immunity from, when — indemnification, when — insurance, purchase of for officers allowed.
Effective – 01 Jan 1993 378.608. Liability, immunity from, when — indemnification, when — insurance, purchase of for officers allowed. — 1. The officers and members of the supreme governing body or any subordinate body of a society shall not be personally liable for any benefits provided by a society. 2. Any person may be […]
Section 378.609 – Waiver of laws, restriction on, when.
Effective – 01 Jan 1993 378.609. Waiver of laws, restriction on, when. — The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members shall have the power or authority to waive any of the provisions of the laws of the society. Such provision shall be binding […]
Section 378.610 – Organization of, how — articles of incorporation, contents — filing — membership requirements.
Effective – 01 Jan 1993 378.610. Organization of, how — articles of incorporation, contents — filing — membership requirements. — 1. A domestic society organized on or after January 1, 1993, shall be formed when seven or more citizens of the United States, a majority of whom are citizens of this state, who desire to […]
Section 378.611 – Amendment of laws, procedures — amendments furnished to members.
Effective – 01 Jan 1993 378.611. Amendment of laws, procedures — amendments furnished to members. — 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 […]
Section 378.612 – Society may operate nonprofit organizations — may not own funeral home.
Effective – 01 Jan 1993 378.612. Society may operate nonprofit organizations — may not own funeral home. — 1. A society may create, maintain and operate, or may establish organizations to operate not-for-profit institutions to further the purposes permitted by subdivision (1) of subsection 1 of section 378.605. Such institutions may furnish services free or […]