§ 27-25-41 - Payment of benefits other than insurance benefits.
SECTION 27-25-41
§ 27-25-41 Payment of benefits other thaninsurance benefits. – (a) A society may pay benefits, other than insurance benefits, to its membersfrom any special account or fund maintained for that purpose; provided, that ifthe benefits are of a nature that they could constitute benefits within theclass of insurance set forth in this chapter, a society making the payments maynot:
(1) Make any separate charge for the payments;
(2) Issue any certificate, policy, or other documentpromising the payments;
(3) Provide in its constitution, laws, or any other documentthat the payments may be received by the member as a matter of right; or
(4) Advertise the payments as insurance or as payments towhich the member has any right.
(b) The society shall maintain a separate accounting of alldisbursements made under this section and report them in its annual statement.