South Carolina Statutes
§ 38-38-310 — Contractual benefits allowed; persons covered.
(A)A society may provide the following contractual benefits in any form:
(1)death;
(2)endowment;
(3)annuity;
(4)temporary or permanent disability;
(5)hospital, medical, or nursing;
(6)monument or tombstone benefits to the memory of deceased members; and (7) other benefits as authorized for life insurers under this title, provided the benefit is:
(a)offered in compliance with the requirements of this title, and (b) consistent with this chapter.
(B)A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (A), consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.
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South Carolina § 38-38-310 (Contractual benefits allowed; persons covered.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2000 Act No. 259, SECTION 1.
Nearby Sections
15
§ 38-38-10
Fraternal benefit society defined.§ 38-38-110
Membership provisions in bylaws or rules.§ 38-38-140
Waiver of bylaw provisions.§ 38-38-220
Amendment of bylaws; notice to director.§ 38-38-240
Reinsurance.§ 38-38-260
Reorganization into mutual life insurer.