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§ 8-432. Issuance of certificate of benefits

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, § 8-432
§ 8-432. Issuance of certificate of benefits
Currentness
In general
(a)(1) Each society authorized to do business in the State shall issue to each member entitled to benefits a certificate that specifies the amount of benefits provided under the certificate.
(2) The certificate, any rider or endorsement attached to the certificate, the laws of the society, the application for membership, any declaration of insurability signed by the applicant, and all amendments to each of these documents constitute the agreement between the society and the member as of the date of issuance of the certificate.
(3) The certificate shall state that the documents listed in paragraph (2) of this subsection constitute the agreement between the society and the member as of the date of issuance of the certificate.
(4) A copy of the application for membership and of any declaration of insurability shall be endorsed on or attached to the certificate.
Statements by applicant a representation
(b)(1) Each statement purporting to be made by an applicant for insurance is a representation and not a warranty.
(2) A waiver of this subsection is void.
Amendment to laws made after issuance of certificate
(c)(1) Subject to paragraph (2) of this subsection, an amendment to the laws made after the date of issuance of the certificate:
(i) binds the member and each beneficiary; and
(ii) governs the agreement between the society and the member as though the amendments were made before and were in force on the date that the member applied for membership.
(2) An amendment does not destroy or diminish the benefits that the society contracted to give the member or owner as of the date of issuance of the certificate.
Copy of document evidence of terms and conditions
(d) A copy of a document listed in this section, certified by the secretary or equivalent officer of the society, is evidence of the terms and conditions of the document.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1997, c. 183, § 1, eff. Jan. 1, 1998.
Formerly Art. 48A, § 330.
MD Code, Insurance, § 8-432, MD INSURANCE § 8-432
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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