1. (a) A society authorized to do business in this state may provide for the payment of:

   1. (1) Death benefits in any form;
   2. (2) Endowment benefits;
   3. (3) Annuity benefits;
   4. (4) Temporary or permanent disability benefits as a result of disease or accident;
   5. (5) Hospital, medical, or nursing benefits due to sickness or bodily infirmity or accident; and
   6. (6) Monument or tombstone benefits to the memory of deceased members not exceeding in any case the sum of $300.00.
2. (b) Such benefits may be provided on the lives of members or, upon application of a member, on the lives of a member’s family, including the member, the member’s spouse, and minor children, in the same or separate certificates.

(Acts 1911, No. 476, p. 700; Acts 1931, No. 55, p. 71; Acts 1949, No. 680, p. 1050, §1; Acts 1971, No. 407, p. 707, §694.)