Section 24. (a) No certificate shall be delivered or issued for delivery in this commonwealth unless a copy of the form has been filed with the commissioner in the manner provided for like policies issued by life insurers in this commonwealth. Every life, accident, health, or disability certificate and every annuity certificate issued on or after January 1, 2001 shall meet the standard contract provision requirements not inconsistent with this chapter for like policies issued by life insurers authorized to write any of these lines of insurance in this commonwealth, except that a society may provide for a grace period for payment of premiums of one full month in its certificates. The certificate shall also contain a provision stating the amount of premiums which are payable under the certificate and a provision reciting or setting forth the substance of any sections of the society's laws or rules in force at the time of the issuance of the certificate which, if violated, will result in termination or reduction of benefits payable under the certificate.
(b) A society may specify the terms and conditions on which benefit contracts may be assigned.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 176 - Fraternal Benefit Societies
Section 1a - Applicability of Chapter 176v to Fraternal Benefit Societies
Section 1b - Applicability of Chapter 176w to Fraternal Benefit Societies
Section 3 - Representative Form of Government
Section 4 - Articles of Incorporation; Preliminary Certificate; Certificate; Powers
Section 7 - Consolidation or Merger
Section 8 - Conversion to Mutual Life Insurance Company
Section 9 - Admission to Membership
Section 10 - Amendment of Articles of Incorporation
Section 11 - Fraudulent Alteration, etc., of Records
Section 13 - Disbursements; Vouchers
Section 14 - Creation and Operation of Charitable, Benevolent or Educational Institutions
Section 15 - Benefits Other Than Insurance Benefits
Section 16 - Liability of Officers and Members; Indemnification
Section 19 - Deferred Payments or Instalments
Section 20 - Paid-Up Nonforfeiture Benefits, Cash Surrender Values, and Other Options
Section 22 - Attachment or Other Process
Section 22a - Burial Benefits; Restrictions; Payment
Section 24 - Filing Copies of Forms With Commissioner; Standard Provisions of Certificates
Section 25 - Surplus of Assets; Waiver of Contributions
Section 29 - Termination and Renewal of Licenses; Fees; License as Evidence
Section 30 - Licensing of Foreign or Alien Societies
Section 31 - Action by Beneficiary
Section 32 - Foreign Societies; Deposits
Section 33 - Injunction Against Transaction of Business; Grounds; Procedure
Section 34 - Foreign or Alien Societies; Suspension or Denial of License
Section 35 - Agents of Societies; Licensing
Section 36 - Commissioner as Attorney for Service of Process
Section 37 - Injunction; Attorney General
Section 38 - Review of Commissioner's Decisions and Findings
Section 39 - Assets; Special Funds; Expenses
Section 40 - Investment of Funds
Section 41 - Reports; Annual Statements
Section 42 - Valuation of Bonds or Other Evidences of Debt
Section 43 - Additional, Increased or Extra Rates of Contributions
Section 45 - Foreign or Alien Societies; Examination; Confidentiality and Privilege
Section 46 - Financial Statement, Report or Finding; Service Upon Society
Section 47 - Misrepresentations, Etc. Concerning Society or Contract
Section 48 - Unfair Discrimination; Inducements Not Specified in Certificate or Contract
Section 51 - Application of Chapter
Section 53 - Jurisdiction to Restrain Violations, Etc.
Section 55 - Solicitation of Membership in Society Not Authorized to Transact Business, Etc.