§432:2-201 Qualifications for membership. (a) A society shall specify in its laws or rules:
(1) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age fifteen and not greater than age twenty-one;
(2) The process for admission to membership for each membership class; and
(3) The rights and privileges of each membership class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society.
(b) A society may also admit social members who shall have no voice or vote in the management of its insurance affairs.
(c) Membership rights in the society are personal to the member and are not assignable. [L 1987, c 347, pt of §2]
Section: Previous 432-2-103 432-2-103.5 432-2-104 432-2-105 432-2-106 432-2-107 432-2-108 432-2-201 432-2-202 432-2-203 432-2-204 432-2-301 432-2-302 432-2-303 432-2-304 NextLast modified: October 27, 2016