304.29-061 Qualifications for membership. (1) A society shall specify in its laws or rules: (a) Eligibility standards for each and every class of membership. If benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age fifteen (15) and not greater than age twenty- one (21); (b) The process for admission to membership for each membership class; and (c) The rights and privileges of each membership class. Only benefit members shall have the right to vote on the management of the insurance affairs of the society. (2) A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society. (3) Membership rights in the society shall be personal to the member and shall not be assignable. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 310, sec. 6, effective January 1, 1989.
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