Florida Statutes Title XXXVII Chapter 632 - Fraternal Benefit Societies
- 632.601 - “fraternal Benefit Society” Defined.
Any incorporated society, order, or supreme lodge, without capital stock, including one exempted under the provisions of s. 632.637(1)(b), whether incorporated or not, conducted solely...
- 632.602 - “lodge System” Defined.
(1) A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated, or...
- 632.603 - “representative Form Of Government” Defined.
A society has a “representative form of government” when:(1) It has a supreme governing body constituted in one of the following ways:(a) Assembly.—The supreme governing body is...
- 632.604 - Terms Used.
Whenever used in this chapter:(1) “Benefit contract” means the agreement for provision of benefits authorized by s. 632.617, as that agreement is described in s. 632.621(1).(2) “Benefit...
- 632.605 - Purposes And Powers.
(1) A society shall operate for the benefit of members and their beneficiaries by:(a) Providing benefits as specified in s. 632.617; and(b) Operating for one or more social,...
- 632.606 - Qualifications For Membership.
(1) A society shall specify in its laws or rules:(a) Eligibility standards for each and every class of membership, provided that if benefits are provided on the...
- 632.607 - Location Of Office; Meetings; Communications To Members; Grievance Procedures.
(1) The principal office of any domestic society shall be located in this state. The meetings of its supreme governing body may be held in any...
- 632.608 - No Personal Liability.
(1) The officers and members of the supreme governing body or of any subordinate body of a society shall not be personally liable for any benefits...
- 632.609 - Waiver Prohibited.
The laws of the society shall provide that no subordinate body, nor any of its subordinate officers or members, shall have the power or authority...
- 632.611 - Organization.
A domestic society organized on or after June 24, 1986, shall be formed as follows:(1) Seven or more citizens of the United States, a majority of...
- 632.612 - Amendments To Laws.
(1) A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body at any regular or special...
- 632.613 - Institutions.
A society may create, maintain, and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by s. 632.605(1)(b). Such institutions...
- 632.614 - Reinsurance.
(1) A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer, other than another...
- 632.615 - Consolidations And Mergers.
(1) A domestic society may not consolidate or merge with any other insurer other than another society. It may consolidate or merge with another society by...
- 632.616 - Conversion Of Fraternal Benefit Society Into Mutual Life Insurance Company.
Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the requirements of chapter 628....
- 632.617 - Benefits.
(1) A society may provide the following contractual benefits:(a) Death benefits;(b) Endowment benefits;(c) Annuity benefits;(d) Temporary or permanent disability benefits;(e) Hospital, medical, or nursing benefits;(f) Monument or tombstone benefits to the memory...
- 632.618 - Beneficiaries.
(1) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or...
- 632.619 - Benefits Not Attachable.
No money or other benefit, charity, relief, or aid to be paid, provided, or rendered by any society, shall be subject to attachment, garnishment, or...
- 632.621 - The Benefit Contract.
(1) Every society authorized to do business in this state shall issue to each owner of a benefit contract a certificate with an identifying number specifying...
- 632.622 - Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, And Other Options.
(1) For certificates issued prior to October 1, 1982, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or...
- 632.623 - Investments.
A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of...
- 632.624 - Funds.
(1) All assets shall be held, invested, and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire...
- 632.625 - Exemptions.
Societies shall be governed by the provisions of this chapter and shall be exempt from all other provisions of the Florida Insurance Code unless those...
- 632.626 - Taxation.
Except as otherwise provided in this chapter, every society organized or licensed under this chapter is hereby declared to be a charitable and benevolent institution,...
- 632.627 - Valuation.
(1) Standards of valuation for certificates issued prior to October 1, 1982, shall be those provided by the laws applicable immediately prior to said date.(2) The minimum...
- 632.628 - Reports.
(1) Reports shall be filed in accordance with the provisions of this section. Every society transacting business in this state shall annually, on or before March...
- 632.629 - Annual License.
(1) A fraternal benefit society may not transact business in this state unless authorized therefor under a subsisting license issued to the society by the office.(2) A...
- 632.631 - Examination Of Societies; No Adverse Publications.
(1) The office, or any person it may appoint, may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in...
- 632.632 - Foreign Or Alien Society; Admission.
No foreign or alien society shall transact business in this state without a license issued by the office. Any such society desiring admission to this...
- 632.633 - Additional Grounds For Suspension, Revocation, Or Denial Of Certificate Of Authority; Receivership; Insolvency.
(1) In addition to the grounds set forth in s. 624.418, the office may, in its discretion, suspend, revoke, or deny the certificate of authority of...
- 632.634 - Licensing And Appointment Of Agents.
(1) Agents of societies shall be licensed and appointed in accordance with the provisions of the Florida Insurance Code regulating the licensing, appointment, examination, revocation, suspension,...
- 632.635 - Unfair And Deceptive Acts And Practices.
Every society authorized to do business in this state shall be subject to the provisions of the Unfair Insurance Trade Practices Act as provided in...
- 632.636 - Violations; Penalties.
(1) The provisions of s. 624.15 shall apply with respect to:(a) Any person who willfully makes a false or fraudulent statement in or relating to an application...
- 632.637 - Exemption Of Certain Societies.
(1) Nothing contained in this chapter shall be so construed as to affect or apply to:(a) Grand or subordinate lodges of societies, orders, or associations now doing...
- 632.638 - Applicability Of Other Code Provisions.
In addition to other provisions contained or referred to in this chapter, the following chapters and provisions of this code apply to fraternal benefit societies,...
Last modified: September 23, 2016