A. A society may apply to the Commission to 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. Such other benefits as authorized for life insurers and which are not inconsistent with this chapter.
B. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection A, 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.
Code 1950, §§ 38-283, 38.1-599; 1952, c. 317, § 38.1-638.31; 1968, c. 654; 1972, c. 530; 1975, c. 262; 1986, c. 562.
Structure Code of Virginia
Chapter 41 - Fraternal Benefit Societies
§ 38.2-4100. Fraternal benefit societies
§ 38.2-4102. Representative form of government
§ 38.2-4104. Purposes and powers
§ 38.2-4105. Qualifications for membership
§ 38.2-4106. Location of office; meetings, communications to members; grievance procedures
§ 38.2-4107. No personal liability
§ 38.2-4109. Organization of domestic society on or after October 1, 1986
§ 38.2-4110. Incorporation of fraternal benefit societies
§ 38.2-4111. Amendments to laws
§ 38.2-4114. Consolidations and mergers
§ 38.2-4115. Conversion of fraternal benefit society into mutual life insurer
§ 38.2-4118. Benefits not attachable
§ 38.2-4119. The benefit contract
§ 38.2-4120. Nonforfeiture benefits, cash surrender values, certificate loans and other options
§ 38.2-4126. Reports to be filed
§ 38.2-4128. Examination of societies; no adverse publications
§ 38.2-4129. Admission; foreign or alien society
§ 38.2-4130. Injunction; liquidation; receivership of domestic society
§ 38.2-4131. Suspension, revocation or refusal of license of foreign or alien society
§ 38.2-4132. Licensing of agents
§ 38.2-4133. Unfair methods of competition and unfair and deceptive acts and practices
§ 38.2-4135. Exemption of certain societies
§ 38.2-4136. Societies previously existing; reincorporation; amendments
§ 38.2-4137. Exemption of member representatives of certain societies