Indiana § 27-11-6-10 Benefit contract issued on life of a minor; transfer of control of
ownership to the insured

Indiana Statutes

§ 27-11-6-10 — Benefit contract issued on life of a minor; transfer of control of ownership to the insured

Indiana·Title 27 INSURANCE·Art. 11 FRATERNAL BENEFIT SOCIETIES·Ch. 6 Contractual Benefits

Benefit contracts issued on the lives of
persons below the society's minimum age for adult membership may
provide for transfer of control of ownership to the insured at an age
specified in the certificate. A society may require approval of an
application for membership in order to effect this transfer and may
provide in all other respects for the regulation, government, and control
of certificates and all rights, obligations, and liabilities incident to a
benefit contract. Ownership rights before a transfer shall be specified
in the certificate.

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Benefit contracts issued on the lives of
persons below the society's minimum age for adult membership may
provide for transfer of control of ownership to the insured at an age
specified in the certificate. A society may require approval of an
application for membership in order to effect this transfer and may
provide in all other respects for the regulation, government, and control
of certificates and all rights, obligations, and liabilities incident to a
benefit contract. Ownership rights before a transfer shall be specified
in the certificate.

Indiana § 27-11-6-10 (Benefit contract issued on life of a minor; transfer of control of ownership to the insured) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.