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Section 38-38-310. Contractual benefits allowed; persons covered.

SC Code § 38-38-310 (2019) (N/A)
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(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.

HISTORY: 2000 Act No. 259, Section 1.

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Section 38-38-260. Reorganization into mutual life insurer.
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Section 38-38-320. Designation and change of beneficiary; payment of death benefits.