64B.01 FRATERNAL BENEFIT SOCIETIES. Any incorporated society, order, or supreme lodge, without capital stock, including one exempted under section 64B.38, subdivision 1, clause (2), whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work or branch […]
64B.02 LODGE SYSTEM. Subdivision 1. Definition. 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 rituals. Subordinate lodges shall be required by the laws of the society to hold regular meetings […]
64B.03 REPRESENTATIVE FORM OF GOVERNMENT. (a) A society has a representative form of government when it has a supreme governing body constituted in one of the following ways: (1) 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, […]
64B.04 TERMS USED. For the purposes of this chapter, the following terms have the meanings given them: (a) “Benefit contract” means the agreement for provision of benefits authorized by section 64B.16, as that agreement is described in section 64B.19, subdivision 1. (b) “Benefit member” means an adult member who is designated by the laws or […]
64B.05 PURPOSES AND POWERS. Subdivision 1. Purposes. A society shall operate for the benefit of members and their beneficiaries by: (1) providing benefits as specified in section 64B.16; and (2) operating for one or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purposes for the benefit of its members, which may also […]
64B.06 QUALIFICATIONS FOR MEMBERSHIP. Subdivision 1. Qualifications. A society shall specify in its laws or rules: (1) eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age 15 and not greater […]
64B.07 LOCATION OF OFFICE, MEETINGS, COMMUNICATIONS TO MEMBERS, GRIEVANCE PROCEDURES. Subdivision 1. Location of office; meetings. 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 where the society has at least one subordinate lodge, […]
64B.08 PERSONAL LIABILITY; INDEMNIFICATION; INSURANCE; ADVANCES. Subdivision 1. No personal liability. 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. Subd. 2. Indemnification. A person may be indemnified and reimbursed by a society for expenses reasonably […]
64B.09 WAIVER. The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members, may waive any of the provisions of the laws of the society. The provision is binding on the society and every member and beneficiary of a member. History: 1985 c 49 s 9
64B.10 ORGANIZATION. Subdivision 1. Regulation. A domestic society organized on or after August 1, 1985 shall be formed according to subdivisions 2 to 6. Subd. 2. Formation. Seven or more citizens of the United States, a majority of whom are citizens of this state, who desire to form a fraternal benefit society, may make, sign, […]
64B.11 AMENDMENTS TO LAWS. Subdivision 1. Amendment procedure. 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. The referendum may be held in accordance with the provisions of its […]
64B.12 INSTITUTIONS. A society may create, maintain, and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by section 64B.05, subdivision 1, clause (2). The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held, or leased by the society for […]
64B.13 REINSURANCE. (a) 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, one which is approved […]
64B.14 CONSOLIDATIONS AND MERGERS. Subdivision 1. Requirements. A domestic society may consolidate or merge with any other society by complying with the provisions of this section. It shall file with the commissioner: (1) a certified copy of the written contract containing the terms and conditions of the consolidation or merger; (2) a sworn statement by […]
64B.15 CONVERSION OF FRATERNAL BENEFIT SOCIETY INTO MUTUAL LIFE INSURANCE COMPANY. A domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the financial requirements for a mutual life insurance company. A plan of conversion shall be prepared in writing by the board of directors setting […]
64B.16 BENEFITS. Subdivision 1. Scope. A society may provide the following contractual benefits on an individual or nongroup basis: (1) death benefits; (2) endowment benefits; (3) annuity benefits; (4) temporary or permanent disability benefits; (5) hospital, medical, or nursing benefits; (6) monument or tombstone benefits to the memory of deceased members; and (7) such other […]
64B.17 BENEFICIARIES. Subdivision 1. Change; eligibility; rights. The owner of a benefit contract may at all times 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 […]
64B.18 BENEFITS NOT ATTACHABLE. The cash value, proceeds, or benefits under any matured or unmatured life insurance or annuity contract issued before, on, or after June 2, 1987, by any society authorized to do business under this chapter, is exempt from attachment, garnishment, execution, or other legal process to the extent provided by section 550.37, […]
64B.19 BENEFIT CONTRACT. Subdivision 1. Certificate. 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 thereby. The certificate, together with any riders or endorsements attached to it, the laws of the society, the application for membership, the application […]
64B.20 NONFORFEITURE BENEFITS, CASH SURRENDER VALUES, CERTIFICATE LOANS, AND OTHER OPTIONS. Subdivision 1. Prior certificates. For certificates issued prior to one year after August 1, 1985, 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 […]
