Sec. 38a-632. (Formerly Sec. 38-224a). Additional benefits from special account. - Connecticut Statutes

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Statutes > Connecticut > Title38a > Chap700d > Sec38a-632

      Sec. 38a-632. (Formerly Sec. 38-224a). Additional benefits from special account. A society may pay benefits, other than insurance benefits, to its members from any special account or fund maintained for such purpose; provided, if such benefits are of such a nature that they could constitute benefits within the classes of insurance set forth in section 38a-631, a society making such payments may not: (a) Make any separate charge therefor; (b) issue any certificate, policy or other document promising such payments; (c) provide in its constitution, laws or any other document that such payments may be received by the member as a matter of right; or (d) advertise such payments as insurance or as payments to which the member has any right. The society shall maintain a separate accounting of all disbursements made under this section and report them in its annual statement.

      (1959, P.A. 624, S. 1.)

      History: Sec. 38-224a transferred to Sec. 38a-632 in 1991.

State Codes and Statutes

Statutes > Connecticut > Title38a > Chap700d > Sec38a-632

      Sec. 38a-632. (Formerly Sec. 38-224a). Additional benefits from special account. A society may pay benefits, other than insurance benefits, to its members from any special account or fund maintained for such purpose; provided, if such benefits are of such a nature that they could constitute benefits within the classes of insurance set forth in section 38a-631, a society making such payments may not: (a) Make any separate charge therefor; (b) issue any certificate, policy or other document promising such payments; (c) provide in its constitution, laws or any other document that such payments may be received by the member as a matter of right; or (d) advertise such payments as insurance or as payments to which the member has any right. The society shall maintain a separate accounting of all disbursements made under this section and report them in its annual statement.

      (1959, P.A. 624, S. 1.)

      History: Sec. 38-224a transferred to Sec. 38a-632 in 1991.

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State Codes and Statutes

Statutes > Connecticut > Title38a > Chap700d > Sec38a-632

      Sec. 38a-632. (Formerly Sec. 38-224a). Additional benefits from special account. A society may pay benefits, other than insurance benefits, to its members from any special account or fund maintained for such purpose; provided, if such benefits are of such a nature that they could constitute benefits within the classes of insurance set forth in section 38a-631, a society making such payments may not: (a) Make any separate charge therefor; (b) issue any certificate, policy or other document promising such payments; (c) provide in its constitution, laws or any other document that such payments may be received by the member as a matter of right; or (d) advertise such payments as insurance or as payments to which the member has any right. The society shall maintain a separate accounting of all disbursements made under this section and report them in its annual statement.

      (1959, P.A. 624, S. 1.)

      History: Sec. 38-224a transferred to Sec. 38a-632 in 1991.