§ 4509 — Certificates; applications; effect of changes in corporate documents

§ 4509. Certificates; applications; effect of changes in corporate\ndocuments. Every authorized society shall issue to each insured member,\nexcept a spouse or children under the age of twenty-one years insured as\nmembers pursuant to subsection (b) of section four thousand five hundred\nfive of this article, a certificate specifying the amount or amounts of\ninsurance benefits provided thereby. The application for insurance, and\nthe declaration of insurability, if used in lieu of a medical\nexamination as herein provided, shall be signed by the applicant, and,\nunless society does not make the application a part of the contract or\nagreement with the member or applicant, a copy thereof shall be attached\nthereto, and all statements made by the applicant therein shall be\ndeemed representations and not warranties. Every adult insurance member\nentitled to life insurance benefits shall, as to each application for\nlife insurance, have furnished evidence of insurability acceptable to\nthe society. The certificate, together with any riders or endorsements\nattached thereto, the articles of incorporation, constitution and\nby-laws of the society, and the application and declaration of\ninsurability, if any, attached as aforesaid, shall constitute the entire\ncontract, as of the date of issuance, between the society and the\ninsured member; and copies of the same, certified by the secretary or\ncorresponding officer of such society, shall be received in evidence to\nshow the terms and conditions of such contract. In the case of\ncertificates that provide that the death benefit or other certificate\nprovisions may be changed by written application or by the written\nnotice of exercise of one or more options provided in the certificate,\nor automatically by the terms of the certificate, the certificate may\nalso contain a provision that when such written application or notice of\nexercise of an option is accepted by the society or a notice of any\nchange is issued by the society and, in each case, a copy of such\napplication or notice is returned by mail or delivered to the\ncertificate holder at the certificate holder's last post office address\nknown to the society, such application or notice shall become part of\nthe entire contract between the parties. Any changes, additions or\namendments to said articles of incorporation, constitution or by-laws\nduly made or enacted subsequent to the issuance of any certificate,\nother than a certificate or contract providing variable benefits\npursuant to a separate account, shall bind the member and his\nbeneficiaries, and shall thereafter govern and control the agreement in\nall respects, except that no change, addition, or amendment shall\ndestroy or diminish benefits which the society contracted to give the\nmembers as of the date of issuance.\n