A society may grant paid-up nonforfeiture benefits, cash surrender values, certificate loans and such other options as its laws may permit. As to certificates issued on and after January 1, 1958, a society shall grant at least one paid-up nonforfeiture benefit, except in the case of pure endowment, annuity or reversionary annuity contracts, reducing term insurance contracts or contracts of term insurance of uniform amount of fifteen years or less expiring before age sixty-six.
(1957, P.A. 448, S. 16.)
History: Sec. 38-226 transferred to Sec. 38a-634 in 1991.
Structure Connecticut General Statutes
Chapter 700d - Fraternal Benefit Societies
Section 38a-595. (Formerly Sec. 38-206). - Definitions.
Section 38a-596. (Formerly Sec. 38-207). - Societies operating on the lodge system.
Section 38a-597. (Formerly Sec. 38-208). - Representative form of government.
Section 38a-601. (Formerly Sec. 38-212). - Foreign and alien societies to be licensed.
Section 38a-602. (Formerly Sec. 38-213). - Renewal of license.
Section 38a-604. (Formerly Sec. 38-215). - Tax exemption.
Section 38a-605. (Formerly Sec. 38-216). - Principal office. Meetings of governing body.
Section 38a-607. (Formerly Sec. 38-219). - Constitution and laws may be absolute authority.
Section 38a-608. (Formerly Sec. 38-220). - Consolidation or merger.
Section 38a-609. (Formerly Sec. 38-221). - Benefit membership.
Section 38a-610. (Formerly Sec. 38-222). - Maintenance of institutions for benefit of members.
Section 38a-611. (Formerly Sec. 38-233). - Reinsurance.
Section 38a-612. (Formerly Sec. 38-235). - Use of assets. Proportion to be used for expenses.
Section 38a-613. (Formerly Sec. 38-236). - Investments.
Section 38a-616. (Formerly Sec. 38-238). - Examination of domestic society by commissioner.
Section 38a-617. (Formerly Sec. 38-239). - Examination of foreign or alien society.
Section 38a-624. (Formerly Sec. 38-246). - Exemption from insurance laws.
Section 38a-625. (Formerly Sec. 38-247). - Exempt societies, orders and associations.
Section 38a-626. (Formerly Sec. 38-248). - Penalties.
Section 38a-631. (Formerly Sec. 38-224). - Types of benefits authorized.
Section 38a-632. (Formerly Sec. 38-224a). - Additional benefits from special account.
Section 38a-633. (Formerly Sec. 38-225). - Insurance and branches for children.
Section 38a-635. (Formerly Sec. 38-227). - Officers and members not liable for benefits.
Section 38a-636. (Formerly Sec. 38-228). - Beneficiaries. Funeral benefits.
Section 38a-637. (Formerly Sec. 38-229). - Money or other benefits not liable to attachment.
Section 38a-638. (Formerly Sec. 38-230). - Benefit certificate.
Section 38a-639. (Formerly Sec. 38-231). - Certificate provisions.