ARTICLE 4. Benefits [11040. - 11044.]

Article 4 added by Stats. 1951, Ch. 1193.

§§ 11040–11044 · 5 sections

• § 11040 All benefits provided for in the laws and agreements of a society shall be payable only out of its funds in accordance with its laws. The officers and members…
• § 11041 An admitted society may, by the issuance of certificates, provide for payment to its members of insurance benefits contained within the following classes: (a)…
• § 11042 A society may provide for benefits on the lives of children under 21 years of age and under the minimum age for adult membership under the laws of the society…
• § 11043 A society may grant nonforfeiture benefits, cash surrender values, certificate loans, and other options as its laws may permit. In the case of certificates…
• § 11044 No beneficiary shall have or obtain any vested interest in the proceeds of any certificate until the certificate has become due and payable in conformity with…