236 COEPORATIONS. [ART. 23

visions of the insurance laws of this State, not only in governmental
relations with the State but for every other purpose, and no law here-
after enacted shall apply to them unless they, be expressly designated
therein.

See section 244L.

See notes to this section (as it stood in 1911) in volume 1 of the Anno-
tated Code.

1912, ch. 824, sec. 5A.

233. (Benefits.) Every association transacting business under this
sub-title shall provide for the payment of death benefits, and- may pro-
vide for the payment of benefits in case of temporary or permanent
physical disability, either as the result of disease, accident or old age;
provided, the period of life at which the payment of benefits for disabil-
ity on account of old age shall commence, shall not be made under
seventy years; and may provide for monuments or tombstones to the
memory of its deceased members, and for the payment of funeral bene-
fits. Such association shall have the power to give a member, when
permanently disabled or on attaining the age of seventy, all or such por-
tion of the face value of his certificate as the laws of the association may
provide; provided, that nothing in this sub-title contained shall be so
construed as to prevent the issuing of benefit certificates for a term of
years less than the whole of life which are payable upon the death or
disability of the member occurring within the term for which the bene-
fit certificate may be issued. Such association shall, upon written appli-
cation of the member, have the power to accept a part of the periodical
contributions in cash and charge the remainder, not exceeding one-half
of the periodical contribution, against the certificate with interest pay-
able or compounded annually at a rate not lower than four per cent, per
annum; provided, that this privilege shall not be granted except to
associations which have readjusted or may hereafter readjust their rates
of contributions, and to contracts affected by such readjustment.

Any association which shall show by the annual valuation herein-
after 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.

See notes to this section (as it stood in 1911) in volume 1 of the Anno-
tated Code.

1912, ch. 824, sec. 6A.

234. (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, stepmother, stepchildren, children by
legal adoption, or to a person or persons dependent upon the member;