PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 1601

SUB-SEC. 2. Any association which shall show by the annual
valuation hereinafter provided for that it is accumulating and
maintaining the reserve necessary to enable it to do so, under
a table of mortality not lower than the American Experience
Table and 4 per cent, interest, may grant to its members
extended and paid-up protection or such withdrawal equities as
its constitution and laws may provide; provided, that such
grants shall in no case exceed in value the portion of the reserve
to the credit of such members to whom they are made.

SEC. 6A. (Beneficiaries.) Death benefits shall be payable
only to the wife, husband, relative by blood, father-in-law,
mother-in-law, son-in-law, daughter-in-law, stepfather, step-
mother, stepchildren, children by legal adoption, or to a person
or persons dependent upon the member; provided, that if after
the issuance of the original certificate the member shall become
dependent upon an incorporated charitable institution, he shall
have the privilege, with the consent of the association to make
such institution his beneficiary. Within the above restrictions
each member shall have the right to designate his beneficiary
and, from time to time, have the same changed in accordance
with the laws, rules or regulations of the association, and no
beneficiary shall have or obtain any vested interest in the said
benefit until the same has become due and payable upon the
death of the said member; provided, that any association may,
by its laws, limit the scope of beneficiaries within the above
classes.

SEC. 7A. (Qualifications for Membership.) Any associa-
tion may admit to beneficial membership any person not less
than sixteen and not more than sixty years of age, who has been
examined by a legally qualified physician and whose examina-
tion has been supervised and approved in accordance with the
laws of the association; provided, that any beneficiary member
of such association who shall apply for a certificate providing
for disability benefits need not be required to pass an additional
medical examination therefor. Nothing herein contained shall
prevent such association from accepting general or social mem-
bers.

SEC. 8A. (Certificate.) Every certificate issued by any
such association shall specify the amount of benefit provided
thereby, and the certificate, the charter or articles of incorpora-
tion, or, if a voluntary association, the articles of association, the
constitution and laws of the association and the application for
membership and medical examination, signed by the applicant,
and all amendments to each thereof, shall constitute the agree-

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