Chapter 176P

Section 1. In this chapter, the following words shall have the following meanings:— ''Commissioner'', the commissioner of insurance. ''Fraternal benefit society'', an incorporated society, order or supreme lodge, without capital stock, conducted solely for the benefit of its memb…

Section 10. If a society fails to secure its certificate of incorporation and to begin business within one year after the date of receiving the certificate of the commissioner, as provided in section 7, its agreement of association and all proceedings thereunder shall become null…

Section 11. A limited society may, with the approval of the commissioner, change the location of its place of business to another location in the commonwealth, or change the purposes for which it was incorporated so as to permit it to transact any business authorized by this chap…

Section 12. (a) No domestic society shall merge with or accept the transfer of the membership or funds of any other society, unless 90 days' notice of the proposed merger or transfer is given to the commissioner, who, within such period, shall make such recommendations to each of…

Section 13. A society may create, maintain, invest, disburse and apply a death fund, any part of which may, in accordance with the by-laws of a society, be designated and set apart as an emergency, a surplus or other similar fund, and a disability fund and a hospitalization and m…

Section 13A. A society, except one organized under section 46, whose rates and benefits are approved by the commissioner, may set up and provide under its by-laws a plan for the payment of hospital and medical expenses and for the services of surgeons, physicians and nurses, or f…

Section 14. (a) Every provision of the by-laws of the society for payment by its members, in whatever form made, shall distinctly state the purposes of the same and the proportion thereof, which may be used for expenses. No part of the money collected for mortuary, disability, ho…

Section 15. (a) Deferred payments or installments of claims shall be considered as fixed liabilities on the happening of the contingency upon which such payments or installments are thereafter to be paid. Such liability shall be the present value of such future payments or instal…

Section 16. A society which shows by the annual valuation hereinafter provided for that it is accumulating and maintaining the tabular reserve required by a table of mortality not lower than the National Fraternal Congress Table of Mortality as adopted by the National Fraternal C…

Section 17. Whenever it appears by a valuation certified to by a competent actuary that the actual assets of a society exceed its liabilities, including in such liabilities the tabular reserves computed on the basis specified in section 16, by an amount equal to 5 per cent of suc…

Section 18. A society shall invest its funds in securities permitted by chapter 175 for the investment of the capital of insurance companies, except that it may invest an amount not exceeding 10 per cent of its funds in the shares of federal savings and loan associations located …

Section 19. (a) Every society may provide for the payment of death benefits; may issue to its members, term, life, endowment and annuity certificates and combinations thereof; and may provide for the payment of benefits in case of temporary or permanent physical disability, eithe…

Section 19A. A society operating on the lodge system which provides for stated periodic contributions of its members based upon a table of mortality not lower than the National Fraternal Congress Table of Mortality, as adopted by the National Fraternal Congress on August 23, 1899…

Section 2. A society shall be deemed to be operating on the lodge system when it has a supreme governing or legislative body, and subordinate lodges or branches, by whatever name known, to which members are elected, initiated and admitted in accordance with its constitution, by-l…

Section 20. A certificate issued by any society shall specify the amount of death benefit provided by it. The certificate, the charter of the articles of organization, or, if it is a voluntary association, the articles of association, the constitution and by-laws of the society, …

Section 21. Death or annuity benefits shall be payable to any beneficiary designated by the member, but the society may by its by-laws make restrictions as to whom may be beneficiaries. Each member shall have the right to change his beneficiary from time to time in accordance wit…

Section 22. A society may provide in its by-laws that a part of the amount payable as a death benefit may be used to pay the funeral expenses of the insured, but the amount so paid shall not exceed $300 and shall be deducted from the amount payable as a death benefit.

Section 22A. No society shall by its by-laws or by any contract or policy made or issued by it in the commonwealth restrict the payment of benefits or any part thereof accruing under such by-laws, contract or policy upon the death of a member or of the person insured, as the case…

Section 23. A society operating on the lodge system may provide in its constitution and by-laws, in addition to other benefits provided for therein, for the payment of death, endowment or annuity benefits upon the lives of children less than 18 years of age, and may loan upon the…

Section 24. No death benefit certificate as to any child shall be issued unless the society shall simultaneously put in force at least 500 such certificates, on each of which at least one assessment has been paid, and so long as the number of lives presented by such certificates …

Section 25. A society entering into insurance agreements under section 23 shall maintain on all such contracts the reserve required by the standard of mortality and interest adopted by the society for computing contributions as provided in section 24. The funds representing the b…

Section 26. The separation of assets, funds and liabilities required by section 25 shall not be terminated, rescinded or modified, nor shall the funds be diverted for any use other than as specified in section 25, as long as any certificates issued under sections 23 to 28, inclus…

Section 27. A society may provide in its by-laws and in the certificate issued under sections 23 to 28, inclusive, for specified payments on account of the expense or general fund, which may be mingled with the general fund of the society as its constitution and by-laws may provi…

Section 28. In case of the termination of membership in the society by the person responsible for the support of any child on whose account a certificate has been issued under sections 23 to 28, inclusive, the certificate may be continued for the benefit of the estate of the chil…

Section 29. The beneficiary under a certificate issued by any society may maintain an action thereon in his own name.

Section 3. A society shall be deemed to have a representative form of government when it provides in its constitution and by-laws for a supreme legislative or governing body, composed of representatives elected either by the members or by delegates elected directly or indirectly …

Section 30. Money or other benefit, charity, or relief or aid, to be paid, provided or rendered by any society, shall not be attached or taken upon execution or other process or by operation of law to pay any debt or liability of a member or beneficiary, or of any other person wh…

Section 31. Except as provided in sections 23 to 28, inclusive, a society may admit to beneficial membership any person, not less than 16 and not more than 60 years of age, who has been examined by a legally qualified physician, if the examination has been supervised and approved…

Section 32. (a) A society may, subject to this chapter, make a constitution and by-laws for its government, admission of members, management of its affairs, and the fixing and readjusting of the rates and contributions of its members from time to time, and may amend its constitut…

Section 32A. Whoever with fraudulent intent alters, defaces, mutilates, destroys or conceals any record of a fraternal benefit society made by or in the custody of the secretary thereof shall be punished by a fine of not more than $1,000 or by imprisonment for not more than one y…

Section 33. A domestic society may provide that the meetings of its legislative or governing body may be held in any state or province wherein such society has subordinate branches, and all business transacted at such meetings shall be as valid in all respects as if such meetings…

Section 34. The constitution and by-laws of the society shall be binding on it, on its members, and on all beneficiaries of members, and shall provide that no subordinate body or any of its subordinate officers or members shall have power or authority to waive any provision there…

Section 35. The recording officer of a society shall file with the commissioner a duly certified copy, in English, of any amendments of or additions to its constitution and by-laws, within 90 days after their adoption. Printed copies of the constitution and by-laws, as amended, c…

Section 36. (a) The commissioner, or any person designated by him, may examine the affairs of any domestic society. The commissioner may employ assistants for the purpose of such examination and he or any person designated by him shall have free access to all the books, papers an…

Section 37. (a) After an examination of any society, either domestic or foreign, has been begun, the commissioner shall not make public any financial statement, report or finding affecting the status, standing or rights of the society until a copy thereof has been served upon the…

Section 37A. No society shall make any disbursements of $15 or more, except disbursements on account of the return of dues paid in advance, unless: (1) such disbursements are evidenced by a voucher signed by or on behalf of the person receiving the money and correctly describing …

Section 38. A society shall annually, on or before March 1, file with the commissioner, in such form as he may require, a statement on oath of its president, secretary, treasurer and chief accountant, or corresponding officers, of its condition and standing on December 31 of the …

Section 38A. Notwithstanding any general or special law to the contrary, chapter 176V shall apply to a limited society governed by this chapter.

Section 38B. Notwithstanding any general or special law to the contrary, chapter 176W shall apply to a limited society governed by this chapter.

Section 39. (a) In addition to the annual statement required by section 38, a society on the lodge system authorized to pay benefits in the commonwealth upon the death of its members, except those societies which do not pay benefits for death from natural causes, shall annually r…

Section 39A. A society may, in the annual statement required by section 38, value its bonds or other evidences of debt having a fixed term and rate and not in default as to principal or interest and if amply secured, in accordance with the following rule:— if purchased at par, at…

Section 4. A corporation which limits its membership to the members of a particular fraternal beneficiary corporation, fraternity or religious denomination, or to the graduates of a designated professional or vocational school, or to the employees or ex-employees of cities or tow…

Section 40. (a) If the stated periodical contributions of the members of any society subject to section 39 are insufficient to pay all reported death, disability, hospitalization and the medical service claims in full, and to provide for the creation and maintenance of the funds …

Section 41. (a) No foreign society shall transact any business in the commonwealth without a license from the commissioner. Such society applying for such a license shall file with the commissioner a duly certified copy of its charter or articles of association; a copy of its con…

Section 42. A foreign society applying for admission to the commonwealth shall, by duly executed instrument filed with the commissioner, as provided in the third paragraph of section 151 of chapter 175, appoint the commissioner as its attorney for the service of process upon it, …

Section 42A. (a) A foreign society, if formed under the law of any government or state other than of the United States, shall not be admitted and authorized to transact business in the commonwealth until, in addition to complying with the conditions of sections 41 and 42, it has …

Section 43. (a) Whenever the commissioner is satisfied that any foreign society (1) has exceeded its powers; (2) has failed to comply with any provision of this chapter; (3) is conducting businesses fraudulently; (4) is not carrying out its contracts in good faith; (5) that its c…

Section 44. The commissioner or his designee may examine any foreign society transacting business in the commonwealth or applying for admission. For this purpose, the commissioner or his designee shall have the powers given by section 36 relative to domestic societies. He may acc…

Section 45. (a) Domestic societies governed by direct vote of their members and limiting their membership as provided in section 4 and domestic fraternal benefit corporations limiting their membership to the permanent employees of cities or towns, the commonwealth or the federal …

Section 46. (a) A domestic society which limits its membership as provided in section 4, or which limits its membership to the members and ex-members of any social organization having a lodge system and secret form of work; or a secret order or fraternity which operates on the lo…