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§ 8-428. Benefits on lives of eligible children

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 4. Fraternal Benefit Societies (Refs & Annos)
Part III. Benefits
MD Code, Insurance, § 8-428
§ 8-428. Benefits on lives of eligible children
Currentness
Eligible children defined
(a) In this section, “eligible children” means children under the minimum age for adult membership but not more than 18 years old at the time of application.
Benefits on lives of eligible children
(b) A society may provide for benefits on the lives of eligible children:
(1) in accordance with § 8-427 of this subtitle;
(2) in accordance with the laws or rules of the society; and
(3) on application of an adult.
Organization and operation of branches for eligible children
(c)(1) A society may organize and operate branches for eligible children.
(2) A society may not require eligible children to be members of or be initiated in a local lodge.
(3) Eligible children may not participate in the management of the society.
Eligible children obtaining minimum age for adult beneficial membership
(d)(1) On obtaining the minimum age for adult beneficial membership under the laws of the society, eligible children insured under certificates issued under this section shall be transferred to and become members of the adult branch of the society if the children otherwise meet the eligibility requirements of the society.
(2) If a child fails to meet the adult eligibility requirements of the society, the transfer is effective only as to the child's insurance account.
Designation and change in designation of beneficiaries
(e) A society may provide for:
(1) the designation and changing of designation of beneficiaries in certificates;
(2) the regulation of certificates; and
(3) all rights, obligations, and liabilities incident to the certificates.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 325.
MD Code, Insurance, § 8-428, MD INSURANCE § 8-428
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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