632.96 Beneficiaries in fraternal contracts.
(1) Any owner may designate as beneficiary any person permitted by the laws of the fraternal. Those laws shall authorize the designation of the estate of a member or insured employee as beneficiary.
(2) Subject to sub. (1), s. 632.48 applies.
History: 1975 c. 373, 421; 1989 a. 336; 1997 a. 177.
Legislative Council Note, 1975: Sub. (1) states a rule slightly more restrictive of the range of permitted beneficiaries than for commercial life insurance; this reflects the nature of the fraternal. Sub. (2) applies the general provision for life insurance, subject to sub. (1). [Bill 643-S]
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