Sec. 2.
Such grand lodge, so incorporated, shall have power to create, hold and disburse beneficiary, relief, general or other funds for the benefit of sick or disabled members or of the families and heirs of deceased members of subordinate lodges of said order, and to levy assessments or dues upon the members of said order for that purpose under the constitution and laws of said order or of the national grand lodge of said order. But such corporation shall be considered as engaged in the business of life insurance and shall be subject to the provisions of the statutes of this state relating to mutual benefit companies, associations or corporations.
History: 1893, Act 78, Imd. Eff. May 12, 1893 ;-- CL 1897, 8123 ;-- CL 1915, 10597 ;-- CL 1929, 10798 ;-- CL 1948, 457.642