Section: Effect of Revised Statutes on ordinances and resolutions adopted or enacted under authority of pre-existing laws
16. a. A society may provide the following contractual benefits in any form, except in the form of group insurance:
(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) other benefits as authorized for life and health insurers and which are not inconsistent with this act.
b. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection a. of this section, consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of minors under the minimum age for adult membership upon application of an adult person.
We hope you find our tools helpful, please visit www.thelegalassistant.com for further information on our other free legal tools and products including LPO compliant legal case management software.