§ 4516 — Annual statement; valuation report; power of superintendent

§ 4516. Annual statement; valuation report; power of superintendent.\n(a) Every authorized society shall make special reports in compliance\nwith section three hundred eight of this chapter, shall file its annual\nstatement in conformity with the requirements of section three hundred\nseven of this chapter, and on or before the first day of March of each\nyear, shall file with the superintendent a valuation report of its\ninsurance certificates or other insurance obligations in force at last\nyear-end in form and content prescribed by the superintendent. Every\nauthorized alien society shall also make and file the trusteed surplus\nstatement required by section one thousand three hundred twelve of this\nchapter.\n (b) The superintendent shall annually make or cause to be made\nvaluations of all outstanding certificates and other insurance\nobligations of every domestic society, in accordance with the provisions\nof this article. The superintendent may make such valuation, or cause\nthe same to be made, by groups of certificates using approximate\naverages for fractions of a year and otherwise. The superintendent may,\nin his discretion, make or cause to be made a similar valuation of the\noutstanding certificates and other insurance obligations of any\nauthorized foreign or alien society, or he may accept in lieu thereof\nthe valuation made or accepted by the insurance department or insurance\nsupervisory official of the state, province or country in which such\nsociety is domiciled.\n (c) Every domestic society, if it has an official publication or\nnewspaper, shall publish therein a synopsis of its annual statement and\nvaluation report within sixty days after the same have been filed with\nthe superintendent.\n (d) Every authorized society shall submit such reports as may be\nrequired by the superintendent to demonstrate the activity of its lodge\nsystem, its expenditures for altruistic, educational, fraternal,\npatriotic or recreational purposes and other expenses of maintaining\nfraternal character.\n (e) The superintendent is authorized to engage outside resources and\ntake such other actions he or she deems necessary and appropriate to\nensure compliance with the requirements of this article and to provide\nassistance to and oversight of authorized societies.\n