PocketLaw | Kansas Statutes | Fraternal Benefit Societies

Fraternal Benefit Societies

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Definitions.

Operation on lodge system; subordinate lodges required to hold regular meetings; lodges for children.

Representative form of government; election and voting criteria.

Definitions.

Operation for benefit of members; authorized insurance business and purposes; specification of persons who may be covered; adoption of laws and rules governing society's operation.

Laws and rules; provisions relating to membership to be specified.

Location of principal office; supreme governing body, location of meetings, minutes of proceedings; official publication for notices; mailings; grievance or complaint procedures.

Personal liability of supreme governing body officers and members; indemnification and reimbursement for expenses and liabilities of directors, officers, employees and agents of society and other entities; liability insurance.

Society's laws nonwaivable by subordinate bodies, officers or members.

Beneficiary designations; payment of funeral benefits to persons incurring expense therefor; payment of proceeds when no lawful beneficiary.

Benefits not subject to attachment, garnishment or process.

Benefit contracts; certificate to be issued to owners; statements on application representations; effect of amendments to society's laws; contracts on lives of minors; impairment of reserves; copies of documents to be received as evidence; certificates to be filed with commissioner; standard contract provision requirements; transfer of contract to minor on attaining minimum age; assignment of contracts.

Valuation of paid-up nonforfeiture benefits, cash surrender values and loan or other options.

Investment of funds.

Holding of assets; creation of special funds; establishment of separate accounts; issuance of contracts on variable basis.

Insurance laws application to societies.

Standards of valuation for certificates; mortality tables; maintenance of reserves in excess of those required.

Annual statement to include valuation of certificates in force; certification or verification of actuary.

Licenses continued in force upon payment of fees; certified copy of license prima facie evidence licensee is society.

Examinations; notice and opportunity to respond; payment of expenses.

Foreign and alien societies to procure license to transact business in state; filing and other requirements.

Deficiencies in operation by domestic society; notice to correct; show cause requirement upon failure to correct; injunction or quo warranto action by attorney general; recommencement of business; liquidation; receiver; procedures applicable to society voluntarily discontinuing business.

Deficiencies in operation by foreign or alien society; notice to correct; show cause requirement upon failure to correct; suspension, revocation or refusal of authority to do business; certain contracts authorized to be continued.

Application or petition for injunction required to be made by attorney general on request of commissioner.

Agents, licensing, certification and examination; exemption therefrom for certain agents, representatives and members; society to maintain record of exempted representatives; information thereof and of change of exempt status to be furnished to commissioner; continuing education requirements.

Societies and agents subject to law regulating trade practices; construction and application thereof.

Formation requirements; incorporators; articles of incorporation; documents to be filed with commissioner; bond; preliminary certificate of authority, expiration; solicitation of members upon receipt of preliminary certificate; conditions precedent to incurring liabilities or paying benefits; issuance of certificate of authority; societies incorporated on act's effective date not required to reincorporate.

Amendment of domestic society's laws; procedures; approval by commissioner; amendments or synopsis thereof to be furnished to members; amendments and additions to be furnished to commissioner; printed copies prima facie evidence of legal adoption.

Establishment and operation of not for profit institutions to further purposes of society; compensation for institutions' services; annual statement to include property held for such purposes.

Reinsurance; limitations; credit for reserves on ceded risks.

Consolidation or merger of domestic society; documents and evidence to be filed with commissioner; approval of commissioner; effective date; societies incorporated under laws of foreign state; transfer of rights and property to society resulting or remaining after transaction; affidavit prima facie evidence of furnishing notice or documents.

Conversion of society into mutual or stock life insurance company.

Same; submission of proposal to supreme legislative body; notice to be furnished members and policyholders; meeting of subordinate lodges or branches on proposal; election of delegates to supreme legislative body; approval of plan by commissioner; options for members or policyholders upon conversion.

Same; adoption of resolution by delegates to supreme legislative body; certificate to be filed with commissioner by directors of society; contents.

Same; report of meeting to be filed with commissioner.

Same; conversion into stock company; purchase of stock; notice to members or policyholders of right to purchase; preference; limitation; nonmembers of society.

Same; status of corporation upon conversion; reserves on policies issued prior to conversion; succession to rights and property of society; power of commissioner to order divestiture or revaluation.

Same; preservation of rights of members, policyholders and creditors of society as obligations of new corporation; appointment of commissioner as process agent.

Same; obligation of new corporation to perform obligations of society; preservation of pending legal actions.

Appointment of commissioner as process agent; time for society to file pleadings after receiving copy of notice.

Review of commissioner's decisions.

Penalties for violations.

Application of act to exempted societies and organizations; information required by commissioner.

Rules and regulations.

Severability of act.