§432:1-103  Applicability of this
article to existing societies and union mutual benefit societies.  (a) 
None of the provisions of this article shall apply to, or in any way be held to
affect, mutual benefit and fraternal societies which have been in existence and
functioning within the State continuously for ten years prior to May 8, 1937.



(b)  The provisions of this article shall apply
to labor union mutual benefit societies, which are also regulated by Public Law
85-836, but the commissioner may waive any of the specific requirements of this
article if the commissioner is satisfied that the labor union members and their
dependents belonging to the mutual benefit society will not be adversely
affected by the waiver.  Each labor union mutual benefit society shall file
with the commissioner annually a copy of the report filed under Public Law
85-836 and a complete financial report prepared by a certified public
accountant. [L 1987, c 347, pt of §2]