(A) A society shall specify in its bylaws or rules:
(1) eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership must be set at not less than age fifteen and not greater than age twenty-one;
(2) the process for admission to membership for each membership class; and
(3) the rights and privileges of each membership class, provided that only benefit members have the right to vote on the management of the insurance affairs of the society.
(B) A society also may admit social members who shall have no voice or vote in the management of the insurance affairs of the society.
(C) Membership rights in the society are personal to the member and are not assignable.
HISTORY: 2000 Act No. 259, Section 1.
Structure South Carolina Code of Laws
Chapter 38 - Fraternal Benefit Societies
Section 38-38-10. Fraternal benefit society defined.
Section 38-38-20. Lodge system operating requirements; lodges for children.
Section 38-38-30. Representative form of government requirements.
Section 38-38-40. Definitions.
Section 38-38-50. Operation for benefit of members; power to adopt bylaws and rules.
Section 38-38-110. Membership provisions in bylaws or rules.
Section 38-38-140. Waiver of bylaw provisions.
Section 38-38-210. Requirements for formation of domestic society.
Section 38-38-220. Amendment of bylaws; notice to director.
Section 38-38-230. Not-for-profit institutions for benefit of members.
Section 38-38-240. Reinsurance.
Section 38-38-250. Consolidation or merger of domestic societies.
Section 38-38-260. Reorganization into mutual life insurer.
Section 38-38-310. Contractual benefits allowed; persons covered.
Section 38-38-320. Designation and change of beneficiary; payment of death benefits.
Section 38-38-330. Attachment, garnishment or seizure of benefits.
Section 38-38-350. Application of laws of State.
Section 38-38-410. Authorized investments.
Section 38-38-420. Assets to be held for use and benefit of society; special funds and accounts.
Section 38-38-430. Governance by chapter.
Section 38-38-440. Designation as charitable and benevolent institution.
Section 38-38-510. Standards of valuation for certificates; maintenance of excess reserves.
Section 38-38-520. Required statements and reports; penalties.
Section 38-38-530. Renewal of licenses; fees; license as prima facie evidence.
Section 38-38-540. Examination; notice of examination.
Section 38-38-550. Authorization to transact business in State; what to file with director.
Section 38-38-580. Injunctions.
Section 38-38-590. Licensing of agents.
Section 38-38-600. Applicability of general insurance provisions; membership requirements exception.
Section 38-38-710. Appointment of director as legal attorney for service of process.
Section 38-38-720. False statement or misrepresentation with intent to defraud; penalties.
Section 38-38-730. Societies and associations exempted from provisions of chapter.