33-7-520. Benefits. (1) A society may provide the following contractual benefits in any form:
     (a) death benefits;
     (b) endowment benefits;
     (c) annuity benefits;
     (d) temporary or permanent disability benefits;
     (e) hospital, medical, or nursing benefits;
     (f) monument or tombstone benefits to the memory of deceased members; and
     (g) other benefits authorized for life insurers that are not inconsistent with this chapter.
     (2) A society shall specify in its rules those persons who may be issued or covered by the contractual benefits in subsection (1), consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.

     History: En. Sec. 16, Ch. 586, L. 1991.