PocketLaw | New York Laws | Fraternal Benefit Societies

Fraternal Benefit Societies

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Definitions.

Incorporation and Licensing of Domestic Societies; Meeting of Supreme Governing Body.

Licensing of Foreign and Alien Societies.

Amendments to Charter, Constitution and By-Laws; Waiver of Provisions.

Insurance Benefits Authorized.

Classes of Membership.

Juvenile Members.

Beneficiaries.

Certificates; Applications; Effect of Changes in Corporate Documents.

Life Insurance Certificates; Required and Prohibited Provisions.

Life Insurance Certificates and Annuity Contracts; Nonforfeiture Benefits and Values; Requirements and Exceptions.

Accident and Health and Disability Insurance Certificates; Compliance With Rules and Regulations.

Annuity Certificates; Compliance With Rules and Regulations.

Creation and Maintenance of Separate Funds; Premiums; Assessments and Other Contributions of Members.

Conditions for Avoiding Separate Funds.

Annual Statement; Valuation Report; Power of Superintendent.

Standard of Valuation Reserves.

Amounts Credited on Life Insurance Certificates.

Impairment of Reserves and Surplus; Order to Make Good Deficiency.

Non-Liability of Officers and Members.

Grounds for Revocation or Suspension of License.

Exemptions of Certain Organizations.

Soliciting Membership in Unauthorized Societies; Penalties.

Exemption From Taxation.

Application of Other Provisions of This Chapter.

Investments of Fraternal Benefit Societies.

Optional Authority and Regulation.

New Business Limitations.

Subsidiaries Authorized.

Optional Investment Authority.