§4112. Institutions
It shall be lawful for a society to create, maintain and operate charitable, benevolent or educational institutions for the benefit of its members and their families and dependents and for the benefit of children insured by the society. For such purpose it may own, hold or lease personal property or real property located within or without this State, with necessary buildings thereon. Such property shall be reported in every annual statement but shall not be allowed as an admitted asset of such society. [PL 1969, c. 132, §1 (NEW).]
Maintenance, treatment and proper attendance in any such institution may be furnished free or a reasonable charge may be made therefor, but no such institution shall be operated for profit. The society shall maintain a separate accounting of any income and disbursements under this section and report them in its annual statement. No society shall own or operate funeral homes or undertaking establishments. [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 55: FRATERNAL BENEFIT SOCIETIES
24-A §4101. Fraternal benefit societies defined
24-A §4102. Lodge system defined
24-A §4103. Representative form of government defined
24-A §4105. Corporate powers retained
24-A §4106. Voluntary associations
24-A §4107. Location of office -- place of meeting
24-A §4108. Consolidations and mergers
24-A §4109. Conversion of fraternal benefit society into mutual life insurance company
24-A §4110. Qualifications for membership
24-A §4111. Articles of incorporation, constitution and laws -- amendments
24-A §4113. No personal liability
24-A §4115. Benefits on lives of children
24-A §4116. Nonforfeiture benefits, cash surrender values, certificate loans and other options
24-A §4118. Benefits not attachable
24-A §4120. Life benefit certificate provisions, standard and prohibited
24-A §4121. Accident and health insurance and total and permanent disability insurance certificates
24-A §4121-A. Acquired Immune Deficiency Syndrome
24-A §4125. Foreign or alien society -- admission
24-A §4126. Injunction -- liquidation -- receivership of domestic society
24-A §4127-A. Suspension, revocation or refusal of license of foreign or alien society
24-A §4128. Licensing of agents
24-A §4129. Service of process
24-A §4134. Reports and valuations
24-A §4135. Examination of domestic societies
24-A §4136. Examination of foreign and alien societies
24-A §4137. No adverse publications
24-A §4138. Misrepresentation (REPEALED)
24-A §4138-A. Enforcement; unfair methods of competition and unfair and deceptive acts and practices
24-A §4139. Discrimination and rebates (REPEALED)
24-A §4139-A. Funeral service contracts