Effective - 01 Jan 1993
378.616. Benefits authorized — rules to specify allowable beneficiaries. — 1. 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; and
(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.
2. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection 1 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.
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(L. 1992 S.B. 831)
Effective 1-01-93
Structure Missouri Revised Statutes
Title XXIV - Business and Financial Institutions
Chapter 378 - Fraternal Benefit Societies
Section 378.601 - Fraternal benefit society, defined.
Section 378.602 - Lodge system, requirements — children's wages permitted, limitation.
Section 378.603 - Representative form of government, requirements.
Section 378.604 - Definitions.
Section 378.605 - Operation, purpose — laws and rules, power to adopt.
Section 378.606 - Laws and rules, requirements — membership rights nonassignable.
Section 378.609 - Waiver of laws, restriction on, when.
Section 378.611 - Amendment of laws, procedures — amendments furnished to members.
Section 378.612 - Society may operate nonprofit organizations — may not own funeral home.
Section 378.613 - Reinsurance agreements, allowed — limitations.
Section 378.615 - Conversion to mutual life insurance company, allowed when.
Section 378.616 - Benefits authorized — rules to specify allowable beneficiaries.
Section 378.620 - Cash surrender value of certificate, computation of.
Section 378.621 - Investment of funds.
Section 378.622 - Assets, use of — variable basis contracts, allowed when.
Section 378.623 - Application of law — exemption from insurance laws.
Section 378.624 - Taxation of societies, exemptions.
Section 378.625 - Valuation of certificates, standards — reserves, excess permitted.
Section 378.626 - Statement of financial condition, contents, filing — penalty.
Section 378.627 - Annual renewal required.
Section 378.628 - Examination, director may conduct — expenses.
Section 378.629 - Foreign society to have license, requirements.
Section 378.631 - Foreign society, director may enjoin business, when.
Section 378.632 - Injunction, who may file.
Section 378.633 - Agents, licensing of — persons not deemed agents.
Section 378.634 - Unfair practices and frauds, subject to law — exception.
Section 378.635 - Service of process, director to be agent for.
Section 378.638 - Fraudulent acts, penalties.
Section 378.640 - Law not applicable to certain societies, when — specific exemptions.