Montana Code 33-7-520. Benefits
33-7-520. Benefits. (1) A society may provide the following contractual benefits in any form:
Terms Used In Montana Code 33-7-520
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Rules: means all rules, regulations, or resolutions that are adopted by the supreme governing body or board of directors and that are intended to have general application to the members of the society. See Montana Code 33-7-108
- Society: means a fraternal benefit society described in 33-7-105. See Montana Code 33-7-108
(a)death benefits;
(b)endowment benefits;
(c)annuity benefits;
(d)temporary or permanent disability benefits;
(e)hospital, medical, or nursing benefits;
(f)monument or tombstone benefits to the memory of deceased members; and
(g)other benefits authorized for life insurers that are not inconsistent with this chapter.
(2)A society shall specify in its rules those persons who may be issued or covered by the contractual benefits in subsection (1), 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.