reglab/housing_qa huggingface dataset:
MO Rev Stat § 378.613 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.613 - Reinsurance agreements, allowed — limitations.

Effective - 01 Jan 1993   378.613. Reinsurance agreements, allowed — limitations. — 1. A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer (other than another fraternal benefit society) having the power to make such reinsurance and authorized to do business in this state, or if not so authorized, one which is approved by the director, but no such society may reinsure substantially all of its insurance in force without the written permission of the director. It may take credit for the reserves on such ceded risks to the extent reinsured, but no credit shall be allowed as an admitted asset or as a deduction from liability, to a ceding society for reinsurance made, ceded, renewed, or otherwise becoming effective after January 1, 1993, unless the reinsurance is payable by the assuming insurer on the basis of the liability of the ceding society under the contract or contracts reinsured without diminution because of the insolvency of the ceding society. The provisions of section 375.246 shall also apply insofar as not in conflict herewith.  2. Notwithstanding the limitation in subsection 1 of this section, a society may reinsure the risks of another society in a consolidation or merger approved by the director under section 378.614. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.615 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.615 - Conversion to mutual life insurance company, allowed when.

Effective - 01 Jan 1993   378.615. Conversion to mutual life insurance company, allowed when. — 1. Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the requirements of the insurance laws of this state for mutual life insurance companies. A plan of conversion shall be prepared in writing by the board of directors, setting forth in full the terms and conditions of conversion. The affirmative vote of two-thirds of all members of the supreme governing body at a regular or special meeting shall be necessary for the approval of such plan.  2. No such conversion shall take effect unless and until approved by the director, who may give such approval if the director finds that the proposed change is in conformity with the requirements of law and not prejudicial to the certificate holders of the society. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.616 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.616 - Benefits authorized — rules to specify allowable beneficiaries.

Effective - 01 Jan 1993   378.616. Benefits authorized — rules to specify allowable beneficiaries. — 1. A society may provide the following contractual benefits in any form:  (1) Death benefits;  (2) Endowment benefits;  (3) Annuity benefits;  (4) Temporary or permanent disability benefits;  (5) Hospital, medical or nursing benefits; and  (6) Monument or tombstone benefits to the memory of deceased members; and  (7) Such other benefits as authorized for life insurers and which 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 of this section, 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. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.617 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.617 - Change of beneficiary, allowed — funeral benefits, payment of, limitation — no beneficiary, effect.

Effective - 01 Jan 1993   378.617. Change of beneficiary, allowed — funeral benefits, payment of, limitation — no beneficiary, effect. — 1. The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or rules of the society unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevocable. A society, through its laws or rules, may limit the scope of beneficiary designations and shall provide that no revocable beneficiary shall have or obtain any vested interest in the proceeds of any certificate until the certificate has become due and payable in conformity with the provisions of the benefit contract.  2. A society may make provision for the payment of funeral benefits to the extent of such portion of any payment under a certificate as might reasonably appear to be due to any person equitably entitled thereto by reason of having incurred expense occasioned by the burial of the member, provided the portion so paid shall not exceed the sum of one thousand dollars.  3. If, at the death of any person insured under a benefit contract, there is no lawful beneficiary to whom the proceeds shall be payable, the amount of such benefit, except to the extent that funeral benefits may be paid as hereinbefore provided, shall be payable to the personal representative of the deceased insured, provided that if the owner of the certificate is other than the insured, such proceeds shall be payable to such owner. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.620 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.620 - Cash surrender value of certificate, computation of.

Effective - 01 Jan 1993   378.620. Cash surrender value of certificate, computation of. — 1. For certificates issued prior to one year after January 1, 1993, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall comply with the provisions of law applicable immediately prior to January 1, 1993.  2. For certificates issued on or after one year from January 1, 1993, for which reserves are computed on the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Table or the Commissioner's 1958 Standard Ordinary Mortality Table, or the Commissioner's 1980 Standard Mortality Table, or any more recent table made applicable to life insurers, every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall not be less than the corresponding amount ascertained in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits based upon such tables. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.621 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.621 - Investment of funds.

Effective - 01 Jan 1993   378.621. Investment of funds. — A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this state which invests its funds in accordance with the laws of the state, district, territory, country or province in which it is incorporated, shall be held to meet the requirements of this section for the investment of funds. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.622 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.622 - Assets, use of — variable basis contracts, allowed when.

Effective - 01 Jan 1993   378.622. Assets, use of — variable basis contracts, allowed when. — 1. All assets shall be held, invested and disbursed for the use and benefit of the society and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit contract.  2. A society may create, maintain, invest, disburse and apply any special fund or funds necessary to carry out any purpose permitted by the laws of such society.  3. A society may, pursuant to resolution of its supreme governing body, establish and operate one or more separate accounts and issue contracts on a variable basis, subject to the provisions of law regulating life insurers establishing such accounts and issuing such contracts. To the extent the society deems it necessary in order to comply with any applicable federal or state laws, or any rules issued thereunder, the society may adopt special procedures for the conduct of the business and affairs of a separate account, and may, for persons having beneficial interests therein, provide special voting and other rights, including without limitation special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account, and may issue contracts on a variable basis to which subsections 2 and 4 of section 378.619 shall not apply. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.623 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.623 - Application of law — exemption from insurance laws.

Effective - 01 Jan 1993   378.623. Application of law — exemption from insurance laws. — Except as herein provided, societies shall be governed by this chapter and shall be exempt from all other provisions of the insurance laws of this state, except chapters 374 and 375, not only in governmental relations with this state, but for every other purpose, and no law hereafter enacted shall apply to them, unless expressly designated therein. When any other law is applicable, it shall be construed in accordance with the fundamental nature of a fraternal benefit society. In the event of any conflict between such law and the provisions of this chapter, the latter shall prevail. The other law may, however, supplement or explain the provisions of this chapter, and the laws herein made applicable to fraternal benefit societies. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.624 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.624 - Taxation of societies, exemptions.

Effective - 01 Jan 1993   378.624. Taxation of societies, exemptions. — Every society organized or licensed under this chapter is hereby declared to be a charitable and benevolent institution, and all of its funds shall be exempt from all and every state, county, district, municipal and school tax other than taxes on real estate and office equipment. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.625 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.625 - Valuation of certificates, standards — reserves, excess permitted.

Effective - 01 Jan 1993   378.625. Valuation of certificates, standards — reserves, excess permitted. — 1. Standards of valuation for certificates issued prior to one year after January 1, 1993, shall be those provided by the laws applicable immediately prior to January 1, 1993.  2. The minimum standards of valuation for certificates issued on or after one year from January 1, 1993, shall be based on the following tables:  (1) For certificates of life insurance the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Mortality Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Ordinary Mortality Table or any more recent table made applicable to life insurers;  (2) For annuity and pure endowment certificates, for total and permanent disability benefits, for accidental death benefits and for noncancelable accident and health benefits such tables as are authorized for use by life insurers in this state. ­­All of the above shall be under valuation methods and standards, including interest assumptions, in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits.  3. The director may, in his discretion, accept other standards for valuation if the director finds that the reserves produced thereby will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard herein prescribed. The director may, in his discretion, vary the standards of mortality applicable to all benefit contracts on substandard lives or other extra hazardous lives by any society authorized to do business in this state.  4. Any society, with the consent of the insurance regulatory official of the state of domicile of the society and under such conditions, if any, which the director may impose, may establish and maintain reserves on its certificates in excess of the reserves required thereunder, but the contractual rights of any benefit member shall not be affected thereby. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.626 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.626 - Statement of financial condition, contents, filing — penalty.

Effective - 01 Jan 1993   378.626. Statement of financial condition, contents, filing — penalty. — 1. Every society transacting business in this state shall annually, on or before the first day of March, unless for good cause shown such time has been extended by the director, file with the director a true statement of its financial condition, transactions and affairs for the preceding calendar year and pay the required fee for filing same. The statement shall be in general form and context as approved by the National Association of Insurance Commissioners for fraternal benefit societies and as supplemented by additional information required by the director.  2. As part of the annual statement herein required, each society shall, on or before the first day of March, file with the director a valuation of its certificates in force on December thirty-first last preceding, provided the director may, in his discretion for cause shown, extend the time for filing such valuation for not more than two calendar months. Such valuation shall be done in accordance with the standards specified in section 378.625. Such valuation and underlying date shall be certified by a qualified actuary or, at the expense of the society, verified by an actuary of the insurance regulatory agency of the state of domicile of the society.  3. A society neglecting to file the annual statement in the form and within the time provided by this section may be subject to a fine of one hundred dollars for each day during which such neglect continues, and its authority to do business in this state may be suspended by the director while such default continues. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.627 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.627 - Annual renewal required.

Effective - 01 Jan 1993   378.627. Annual renewal required. — Societies which are now authorized to transact business in this state, and all societies hereafter licensed, may continue such business until the first day of April next succeeding January 1, 1993. The authority of such societies, and all societies hereafter licensed, may thereafter be renewed annually, but in all cases to terminate on the succeeding April. However, a license so issued shall continue in full force and effect until the new license be issued or specifically refused. For each such license or renewal the society shall pay the director the required fee. A duly certified copy or duplicate of such license shall be prima facie evidence that the licensee is a fraternal benefit society within the meaning of this chapter. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.628 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.628 - Examination, director may conduct — expenses.

Effective - 01 Jan 1993   378.628. Examination, director may conduct — expenses. — 1. The director, or any person he may appoint, may examine any domestic, foreign or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies.  2. The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued, upon statements furnished by the director. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.629 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.629 - Foreign society to have license, requirements.

Effective - 01 Jan 1993   378.629. Foreign society to have license, requirements. — No foreign or alien society shall transact business in this state without a license issued by the director. Any such society desiring admission to this state shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies. Any such society may be licensed to transact business in this state upon filing with the director:  (1) A duly certified copy of its chapters of incorporation;  (2) A copy of its bylaws, certified by its secretary or corresponding officer;  (3) A power of attorney to the director as prescribed in section 378.635;  (4) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the director, duly verified by an examination made by the insurance supervisory official of its home state or other state, territory, province or country, satisfactory to the director;  (5) Certification from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein;  (6) Copies of its certificate forms;  (7) A showing that its assets are invested in accordance with the provisions of this chapter; and  (8) Such other information as the director may deem necessary. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93
MO Rev Stat § 378.630 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 378 - Fraternal Benefit Societies|Section 378.630 - Powers of director to order changes, when — may enjoin further business, when, duration — liquidation, effect.

Effective - 01 Jan 1993   378.630. Powers of director to order changes, when — may enjoin further business, when, duration — liquidation, effect. — 1. When the director upon investigation finds that a domestic society:  (1) Has exceeded its powers;  (2) Has failed to comply with any provision of this chapter;  (3) Is not fulfilling its contracts in good faith;  (4) Has a membership of less than four hundred after an existence of one year or more; or  (5) Is conducting business fraudulently or in a manner hazardous to its members, creditors, the public or the business, ­­the director shall notify the society of such deficiency or deficiencies and state in writing the reasons for his dissatisfaction. The director shall at once issue a written notice to the society requiring that the deficiency or deficiencies which exist are corrected. After such notice the society shall have a thirty-day period in which to comply with the director's request for correction, and if the society fails to comply, the director shall notify the society of such findings of noncompliance and require the society to show cause on a date named why it should not be enjoined from carrying on any business until the violation complained of shall have been corrected, or why an action in quo warranto should not be commenced against the society.  2. If on such date the society does not present good and sufficient reasons why it should not be so enjoined or why such action should not be commenced, the director may commence an action to enjoin the society from transacting business or in quo warranto.  3. The court shall thereupon notify the officers of the society of a hearing. If after a full hearing it appears that the society should be so enjoined or liquidated or a receiver appointed, the court shall enter the necessary order. No society so enjoined shall have the authority to do business until:  (1) The director finds that the violation complained of has been corrected;  (2) The costs of such action shall have been paid by the society if the court finds that the society was in default as charged;  (3) The court has dissolved its injunction; and  (4) The director has reinstated the certificate of authority.  4. If the court orders the society liquidated, it shall be enjoined from carrying on any further business, whereupon the receiver of the society shall proceed at once to take possession of the books, papers, money and other assets of the society and, under the direction of the court, proceed forthwith to close the affairs of the society and to distribute its funds to those entitled thereto, as provided by sections 375.1150 to 375.1246.  5. The provisions of this section relating to hearing by the director, hearing by the court, injunction and receivership shall be applicable to a society which shall voluntarily determine to discontinue business. ­­-------- (L. 1992 S.B. 831)  Effective 1-01-93