Rhode Island § 27-25-41 § 27-25-41. Payment of benefits other than insurance benefits.

Rhode Island Statutes

§ 27-25-41 — § 27-25-41. Payment of benefits other than insurance benefits.

Rhode Island·Title 27 Insurance·Ch. 27-25 Rhode Island Fraternal Code

§ 27-25-41. Payment of benefits other than insurance benefits.
(a) A society may pay benefits, other than insurance benefits, to its members from any
            special account or fund maintained for that purpose; provided, that if the benefits
            are of a nature that they could constitute benefits within the class of insurance
            set forth in this chapter, a society making the payments may not:
         
(1) Make any separate charge for the payments;
         
(2) Issue any certificate, policy, or other document promising the payments;
         
(3) Provide in its constitution, 

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§ 27-25-41. Payment of benefits other than insurance benefits.

(a) A society may pay benefits, other than insurance benefits, to its members from any special account or fund maintained for that purpose; provided, that if the benefits are of a nature that they could constitute benefits within the class of insurance set forth in this chapter, a society making the payments may not:

(1) Make any separate charge for the payments;

(2) Issue any certificate, policy, or other document promising the payments;

(3) Provide in its constitution, laws, or any other document that the payments may be received by the member as a matter of right; or

(4) Advertise the payments as insurance or as payments to which the member has any right.

(b) The society shall maintain a separate accounting of all disbursements made under this section and report them in its annual statement.

Rhode Island § 27-25-41 (§ 27-25-41. Payment of benefits other than insurance benefits.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.