Vermont § 4475 Benefits on lives of children

Vermont Statutes

§ 4475 — Benefits on lives of children

Vermont § 4475

Title 8Title 8: Banking and Insurance

Ch. 121Chapter 121: Fraternal Benefit Societies

This text of Vermont § 4475 (Benefits on lives of children) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 8, § 4475 (2026).

Text

(a)A society may provide for benefits on the lives of children under the minimum age for adult membership but not greater than 18 years of age at the time of application for such benefits, upon the application of an adult person who has an insurable interest, as its laws or rules may provide, which benefits shall be in accordance with the provisions of subsection 4474(a) of this title. A society may, at its option, organize and operate branches for such children. Membership and initiation in local lodges shall not be required of such children, nor shall they have a voice in the management of the society.

(b)A society shall have power to provide for the designation and changing of designation of beneficiaries in the certificates providing for the benefits and to provide in all other respe

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(a) A society may provide for benefits on the lives of children under the minimum age for adult membership but not greater than 18 years of age at the time of application for such benefits, upon the application of an adult person who has an insurable interest, as its laws or rules may provide, which benefits shall be in accordance with the provisions of subsection 4474(a) of this title. A society may, at its option, organize and operate branches for such children. Membership and initiation in local lodges shall not be required of such children, nor shall they have a voice in the management of the society.
(b) A society shall have power to provide for the designation and changing of designation of beneficiaries in the certificates providing for the benefits and to provide in all other respects for the regulation, government, and control of the certificates and all rights, obligations, and liabilities of and connected with the certificates. (Added 1959, No. 197, § 15, eff. Nov. 22, 1959; amended 2021, No. 105 (Adj. Sess.), § 190, eff. July 1, 2022.)