HARRY W. NIC®, GOVERNOR. 813

such showing of eligibility as its constitution and laws may
provide, any person not less than sixteen and not more than
sixty years of age. Nothing herein contained shall prevent
such association from accepting general or social members.

Sec. 153. CERTIFICATE. Every certificate issued by
any such association shall be in such form as its constitu-
tion and laws may provide and shall specify the amount
and nature of benefit provided thereby, and the certificate,
the charter or articles of incorporation, or, if a voluntary
association, the articles of association, the constitution and
laws of the association and the application for
membership, signed by the applicant, and all amend-
ments to each thereof, shall constitute the agree-
ment between the association and the member and
the copies of the same certified by the secretary of the
association or corresponding officer, shall be received in
evidence of the terms and conditions thereof, and any
changes, additions or amendments to said charter or articles
of incorporation or articles of association, if a voluntary
association, constitution or laws duly made or enacted sub-
sequent to the issuance of the benefit certificate shall bind
the member and his beneficiaries, and shall govern and con-
trol the agreement in all respects the same as though such
changes, additions or amendments had been made prior to
and were in force at the time of the application for mem-
bership.

Sec. 154. FUNDS. Any association may create, main-
tain, invest, disburse and apply an emergency, surplus or
other similar funds in accordance with its laws and ac-
cumulated funds over and above the amount required to
maintain the reserves on all outstanding benefit certificates
of such association shall be available for expense of opera-
tion, maintenance of homes, sanatoria, recreation centers,
and for the payment of dividends or refunds to its mem-
bers. Unless otherwise provided in the contract, such funds
shall be held, invested and disbursed for the use and bene-
fit of the association, and no member or beneficiary shall
have or acquire individual rights therein or become entitled
to any apportionment or the surrender of any part there-
of, except as provided in Section 150 of this Article. The
funds from which benefit shall be paid and the funds from
which the expenses of the association shall be defrayed,
shall be derived from periodical payments by the mem-
bers of the association, and accretions of said funds; pro-
vided, that no association, domestic or foreign, shall here-