(A) A society may provide the following contractual benefits in any form: (1) death; (2) endowment; (3) annuity; (4) temporary or permanent disability; (5) hospital, medical, or nursing; (6) monument or tombstone benefits to the memory of deceased members; and (7) other benefits as authorized for life insurers under this title, provided the benefit is: (a) offered in compliance with the requirements of this title, and (b) consistent with this chapter. (B) A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (A), 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: 2000 Act No. 259, Section 1.
South Carolina Legal Code