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Session Laws, 1894 Session
Volume 480, Page 405   View pdf image (33K)
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FRANK BROWN, ESQUIRE, GOVERNOR.

405

next of kin who would be distributees of the member's per-
sonal estate if he died intestate, to an affianced husband or affi-
anced wife of the member, or to persons dependent upon the
member for food, lodging, clothing or education, and to
none other; provided, that payment can only be made to
a beneficiary by reason of dependency when it is established
by documentary proof to the satisfaction of the executive
officers of such association that the fact of such dependency
as herein provided, existed at the member's death, and no
benefit certificate shall issue designating a beneficiary by way
of dependency, unless such dependency shall be fully set forth,
in writing, and established by documentary proof to the satis-
facton of said executive officer, prior to the issuance thereof.
A benefit shall not be assignable except to the beneficiaries
above specified, and then only by the consent of such associ-
ation, attested by its seal and the signature of its supreme
secretary and supreme executive officer; but the member may
surrender his benefit certificate and have a new one issued to
any one or more of the beneficiaries, as above specified, in the
manner provided by the constitution and laws of such associ-

Beneficiaries.


ation. Such associations shall be governed by the provisions
of section 143 E to section 143 B, both inclusive, of this article,
and shall be exempt from the provisions of the insurance laws
of this State, and no law hereafter passed shall apply to them
unless they be expressly designated therein; provided, that
any corporations or associations, orders or societies, operating
on the lodge system and having ritualistic work in their lodges,
councils or societies, whose business it is, in whole or in part, to
pay, at the expiration of a fixed period of not less than five
years, a sum not exceeding the maximum amount named in
their certificates or paying dividend withdraw at surrender, or
old age benefits, or paying such certificates at the expiration
of life expectancy, may conduct their business in the State
under the provisions governing fraternal beneficiary societies,
orders or associations, with this exception, that no such corpo-
ration or association shall be permitted to begin, do or continue
business in this State, until it shall have first deposited with
the insurance commissioner of this State, the sum of ten thous-
and dollars in dividend bearing securities, satisfactory to said
commissioner, as a guarantee for the payment of certificates
issued by it, which deposit shall be constantly maintained al
that amount; provided, however, that any such corporation or
association organized under the laws of any other State, which
may have, under the laws of the State of which it is a citizen,
a deposit of equal value for the purpose herein mentioned.

Subject to
sections 143E
to 143 R.




 
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Session Laws, 1894 Session
Volume 480, Page 405   View pdf image (33K)
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