A society may provide the following contractual benefits in any form:
- (1) Death benefits;
- (2) Endowment benefits;
- (3) Annuity benefits;
- (4) Temporary or permanent disability benefits;
- (5) Hospital, medical, or nursing benefits;
- (6) Monument or tombstone benefits to the memory of deceased members; and
- (7) Any other benefits as authorized for life and health insurers and which are not inconsistent with this chapter. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits 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.
Source: SL 1990, ch 410 , § 16.