PARRIS N. GLENDENING, Governor                          H.B. 1022

(2) (I) [If] SUBJECT TO SUBPARAGRAPH (II) OF THIS PARAGRAPH, IF
at the death of a member there is no lawful beneficiary to whom the insurance benefits
are payable, the society shall pay to the personal representative of the deceased member
the insurance benefits under the certificate, less any funeral benefits paid under
paragraph (1) of this subsection.

(II) IF THE OWNER OF THE CERTIFICATE IS OTHER THAN THE
INSURED, THE PROCEEDS SHALL BE PAYABLE TO THAT OWNER.

8-432.

(a)     (1) Each society authorized to do business in the State shall issue to each
member entitled to benefits a certificate that specifies the amount of benefits provided
under the certificate.

(2)     The certificate, any rider or endorsement attached to the certificate, the
[charter, articles of incorporation, constitution, and] laws of the society, the application
for membership, any declaration of insurability signed by the applicant, and all
amendments to each of these documents constitute the agreement between the society
and the member as of the date of issuance of the certificate.

(3)     The certificate shall state that the documents listed in paragraph (2) of
this subsection, constitute the agreement between the society and the member as of the
date of issuance of the certificate.

(4)     A copy of the application for membership and of any declaration of
insurability shall be endorsed on or attached to the certificate.

(b)     (1) Each statement purporting to be made by [a member] AN APPLICANT
FOR INSURANCE is a representation and not a warranty.

(2) A waiver of this subsection is void.

(c)     (1) Subject to paragraph (2) of this subsection, an amendment to the
[charter, articles of incorporation, constitution, or] laws made after the date of issuance
of the certificate:

(i) binds the member and each beneficiary; and

(ii) governs the agreement between the society and the member as
though the amendments were made before and were in force on the date that the member
applied for membership.

(2) An amendment does not destroy or diminish the benefits that the society
contracted to give the member OR OWNER as of the date of issuance of the certificate.

(d)    A copy of a document listed in this section, certified by the secretary or
equivalent officer of the society, is evidence of the terms and conditions of the document.

8-433.

(a) (1) After December 31, [1963] 1997, a [life] benefit certificate may not be
delivered or issued for delivery in the State unless the form has been:

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