1. (A) A society may provide the following contractual benefits in any form:

   1. (1) death;
   2. (2) endowment;
   3. (3) annuity;
   4. (4) temporary or permanent disability;
   5. (5) hospital, medical, or nursing;
   6. (6) monument or tombstone benefits to the memory of deceased members; and

   7. (7) other benefits as authorized for life insurers under this title, provided the benefit is:

      1. (a) offered in compliance with the requirements of this title, and
      2. (b) consistent with this chapter.
2. (B) A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (A), consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.

HISTORY: 2000 Act No. 259, Section 1.