Rhode Island General Laws 27-25-16. Benefits
(a) 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 authorized for life insurers and which are not inconsistent with this chapter.
Terms Used In Rhode Island General Laws 27-25-16
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
- Rules: means all rules, regulations, or resolutions adopted by the supreme governing body or board of directors that are intended to have general application to the members of the society. See Rhode Island General Laws 27-25-4
- Society: means fraternal benefit society, unless otherwise indicated. See Rhode Island General Laws 27-25-4
(b) A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (a) of this section, 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 of Section.
P.L. 1984, ch. 201, § 2.