8 V.S.A. ch. 121 – Fraternal Benefit Societies | Midpage

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Vermont Statutes Annotated

Chapter 121

8 V.S.A. ch. 121

Fraternal Benefit Societies

4460Statutory purposes 4461Fraternal benefit societies defined 4462Lodge system defined 4463Representative form of government defined 4464Organization 4465Corporate powers retained 4466Existing voluntary associations; may incorporate 4467Location of office; place of meeting 4468Consolidations and mergers 4469Conversion of fraternal benefit society into mutual life insurance company 4470Qualifications for membership 4471Articles of incorporation, constitution, and laws; amendments 4472Institutions 4473No personal liability 4474Benefits 4475Benefits on lives of children 4476Nonforfeiture benefits, cash surrender values, certificate loans, and other options 4477Beneficiaries 4478Benefits not attachable 4479The contract 4480Provisions; standard and prohibited 4481Accident and health insurance and total and permanent disability insurance certificates; filing and approval 4482Waiver 4483Reinsurance 4484Annual license 4485Foreign or alien society; admission 4486Injunction; liquidation; receivership of domestic society 4487Suspension, revocation, or refusal of license of foreign or alien society 4488Licensing of agents 4489Service of process 4490Injunction 4491Review 4492Funds 4493Investments 4494Reports and valuations 4495Examination of domestic societies 4496Examination of foreign and alien societies 4497No adverse publications 4498Misrepresentation 4499Discrimination and rebates 4500Taxation 4501Exemptions 4502Exemption of certain societies 4503Penalties