Pennsylvania Statutes Title 40 P.S. Insurance § 991.2402. Definitions

The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“Benefit contract.”The agreement for provision of benefits authorized by section 2431  1 as that agreement is described in section 2434(a). 2

“Benefit member.”An adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract.

“Certificate.” The document issued as written evidence of the benefit contract.

“Commissioner.” The Insurance Commissioner of the Commonwealth.

“Department.” The Insurance Department of the Commonwealth.

“Impaired.” For a society that does not write variable contracts, “impaired” means whenever the society's assets are less than its total liabilities. For a society that does write variable contracts, “impaired” means whenever the society's assets are less than its total liabilities, plus the required surplus for a mutual life insurer to write such contracts.

“Insurance laws.”Laws and regulations pertaining to insurance companies.

“Laws.” The society's articles of incorporation, constitution and bylaws, however designated.

“Lodge.” Subordinate member units of the society, known as camps, courts, councils, branches or by any other designation.

“Premiums.” Premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate.

“Rules.” Rules, regulations or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society.

“Society.” Fraternal benefit society, unless otherwise indicated.