4525 – Application of Other Provisions of This Chapter.
§ 4525. Application of other provisions of this chapter. Every authorized society shall be subject to the provisions of this article but shall not be subject to other provisions of this chapter except: (a) those specified in this article as applicable to such societies; (b) articles one, two, three, thirteen, fourteen, twenty-four, seventy-one and seventy-four; […]
4526 – Investments of Fraternal Benefit Societies.
§ 4526. Investments of fraternal benefit societies. (a) For purposes of investments made pursuant to the provisions of section one thousand four hundred four of this chapter, the term “institution” shall only include a corporation, a joint-stock association, and a business trust and the term “obligations” shall only include bonds, debentures, notes, or other evidences […]
4527 – Optional Authority and Regulation.
§ 4527. Optional authority and regulation. (a) An authorized fraternal benefit society subject to this article and meeting the requirements of this section may obligate itself for the payment of the following benefits in addition to those authorized in section four thousand five hundred five of this article; (1) Long term care benefits as defined […]
4508 – Beneficiaries.
§ 4508. Beneficiaries. (a) The adult 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 authorized society unless the owner waives this right by specifically requesting in writing that the beneficiary designations be irrevocable. Subject to the […]
4509 – Certificates; Applications; Effect of Changes in Corporate Documents.
§ 4509. Certificates; applications; effect of changes in corporate documents. Every authorized society shall issue to each insured member, except a spouse or children under the age of twenty-one years insured as members pursuant to subsection (b) of section four thousand five hundred five of this article, a certificate specifying the amount or amounts of […]
4510 – Life Insurance Certificates; Required and Prohibited Provisions.
§ 4510. Life insurance certificates; required and prohibited provisions. (a) No certificate or other evidence of a life insurance contract shall be delivered or issued for delivery in this state by any authorized society unless it contains in substance the following provisions, or provisions which in the opinion of the superintendent are more favorable to […]
4511 – Life Insurance Certificates and Annuity Contracts; Nonforfeiture Benefits and Values; Requirements and Exceptions.
§ 4511. Life insurance certificates and annuity contracts; nonforfeiture benefits and values; requirements and exceptions. (a) Every certificate of life insurance except certificates for which reserves are computed on the Commissioners 1941 Standard Ordinary Mortality Table, the Commissioners 1958 Standard Ordinary Mortality Table or the Commissioners 1941 Standard Industrial Mortality Table, delivered or issued for […]
4512 – Accident and Health and Disability Insurance Certificates; Compliance With Rules and Regulations.
§ 4512. Accident and health and disability insurance certificates; compliance with rules and regulations. (a) No certificate or other evidence of any contract of accident insurance, disability income insurance, or health insurance or of any total and permanent disability insurance and no application or rider or endorsement for use in connection therewith shall be delivered […]
4513 – Annuity Certificates; Compliance With Rules and Regulations.
§ 4513. Annuity certificates; compliance with rules and regulations. No certificate or other evidence of any annuity contract and no application or rider or endorsement for use in connection therewith, shall be delivered or issued for delivery in this state unless it conforms with reasonable rules and regulations prescribed by the superintendent. Pursuant to the […]
4514 – Creation and Maintenance of Separate Funds; Premiums; Assessments and Other Contributions of Members.
§ 4514. Creation and maintenance of separate funds; premiums; assessments and other contributions of members. (a) Every authorized society shall create a separate fund or funds for the payment of all insurance benefits as defined in section four thousand five hundred one of this article, under all certificates or other contracts issued by it or […]