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Current as of January 01, 2025 | Updated by Findlaw Staff
A society may pay benefits, other than insurance benefits, to its members from any special account or fund maintained for such purpose; provided, if such benefits are of such a nature that they could constitute benefits within the classes of insurance set forth in section 38a-631, a society making such payments may not: (a) Make any separate charge therefor; (b) issue any certificate, policy or other document promising such payments; (c) provide in its constitution, laws or any other document that such payments may be received by the member as a matter of right; or (d) advertise such payments as insurance or as payments to which the member has any right. The society shall maintain a separate accounting of all disbursements made under this section and report them in its annual statement.
Cite this article: FindLaw.com - Connecticut General Statutes Title 38A. Insurance § 38a-632. Additional benefits from special account - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-38a-insurance/ct-gen-st-sect-38a-632/
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