§ 15 — Benefits other than insurance benefits

Massachusetts § 15

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 176: FRATERNAL BENEFIT SOCIETIES

Text

Section 15. A society may pay benefits, other than insurance benefits, to its members from any special account or fund maintained for such purpose; provided, that if such benefits are of such a nature that they could constitute benefits within the classes of insurance set forth in section seventeen, a society making such payments may not—(a) Make any separate charge therefor;(b) Issue any certificate, policy or other document promising such payments;(c) Provide in its constitution, laws or any other document that such payments may be received by the member as a matter of right; or(d) Advertise such payments as insurance or as payments to which the member has any right.The society shall maintain a separate accounting of all disbursements made under this section and report them in its annual statement.