(1) A society shall specify in its governing documents or rules: (a) Eligibility standards for each and every class of membership. If benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than fifteen years of age and not greater than twenty-one years of age.(b) The process for admission to membership for each membership class; and(c) The rights and privileges of each membership class. Only benefit members shall have the right to vote on the management of the insurance affairs of the society.(2) A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society.(3) Membership rights in the society are personal to the member and are not assignable.L. 93: Entire article amended with relocations, p. 588, § 1, effective July 1.This section is similar to former § 10-14-108 as it existed prior to 1993.
Colorado Legal Code