Illinois Compiled Statutes 215 ILCS 5/287.1 – Qualifications for membership
Current as of: 2024 | Check for updates
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(a) A society shall specify in its laws or rules:
(1) eligibility standards for each and every class of
(1) eligibility standards for each and every class of
membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age 15 and not greater than age 21;
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(2) the process for admission to membership for each
membership class; and
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(3) the rights and privileges of each membership
class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society.
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(b) A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society.
(c) Membership rights in the society are personal to the member and are not assignable.
(c) Membership rights in the society are personal to the member and are not assignable.