§432:2-704 Exemption of certain societies. (a) Nothing contained in this article shall be so construed as to affect or apply to:
(b) Any such society or association described in subsections (a)(3) or (4) which provides for death or disability benefits for which benefit certificates are issued, and any such society or association included in subsection (a)(4) which has more than one thousand members, shall not be exempted from the provisions of this article but shall comply with all requirements thereof.
(c) No society which, by the provisions of this section, is exempt from the requirements of this article, except any society described in subsection (a)(2), shall give or allow, or promise to give or allow to any person any compensation for procuring new members.
(d) Every society which provides for benefits in case of death or disability resulting solely from accident, and which does not obligate itself to pay natural death or sick benefits shall have all of the privileges and be subject to all the applicable provisions and regulations of this article except that the provisions thereof relating to medical examination, valuations of benefit certificates, and incontestability, shall not apply to such society.
(e) The commissioner may require from any society or association, by examination or otherwise, such information as will enable the commissioner to determine whether such society or association is exempt from the provisions of this article.
(f) Societies, exempted under the provisions of this section, shall also be exempt from all other provisions of the insurance laws of this State. [L 1987, c 347, pt of §2; am L 2011, c 21, §1]