reglab/housing_qa huggingface dataset:
NC Gen Stat § 58-24-10 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-10 - Representative form of government.

 58-24-10. Representative form of government.A society has a representative form of government when:(a) It has a supreme governing body constituted in one of the following ways:(1) Assembly. - The supreme governing body is an assembly composed of delegates elected directly by the members or at intermediate assemblies or conventions of members or their representatives, together with other delegates as may be prescribed in the society's laws. A society may provide for election of delegates by mail. The elected delegates shall constitute a majority in number and shall not have less than two-thirds of the votes and not less than the number of votes required to amend the society's laws. The assembly shall be elected and shall meet at least once every four years and shall elect a board of directors to conduct the business of the society between meetings of the assembly. Vacancies on the board of directors between elections may be filled in the manner prescribed by the society's laws.(2) Direct Election. - The supreme governing body is a board composed of persons elected by the members, either directly or by their representatives in intermediate assemblies, and any other persons prescribed in the society's laws. A society may provide for election of the board by mail. Each term of a board member may not exceed four years. Vacancies on the board between elections may be filled in the manner prescribed by the society's laws. Those persons elected to the board shall constitute a majority in number and not less than the number of votes required to amend the society's laws. A person filling the unexpired term of an elected board member shall be considered to be an elected member. The board shall meet at least quarterly to conduct the business of the society.(b) The officers of the society are elected either by the supreme governing body or by the board of directors;(c) Only benefit members are eligible for election to the supreme governing body, the board of directors or any intermediate assembly; and(d) Each voting member shall have one vote; no vote may be cast by proxy. (1987, c. 483, s. 2; 1989, c. 364, s. 1.)
NC Gen Stat § 58-24-15 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-15 - Terms used.

 58-24-15. Terms used.Whenever used in this Article:(a) "Benefit contract" shall mean the agreement for provision of benefits authorized by G.S. 58-24-75, as that agreement is described in G.S. 58-24-90(a).(b) "Benefit member" shall mean an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract.(c) "Certificate" shall mean the document issued as written evidence of the benefit contract.(d) "Premiums" shall mean premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate.(e) "Laws" shall mean the society's articles of incorporation, constitution and bylaws, however designated.(f) "Rules" shall mean all rules, regulations or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society.(g) "Society" shall mean fraternal benefit society, unless otherwise indicated.(h) "Lodge" shall mean subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-20 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-20 - Purposes and powers.

 58-24-20. Purposes and powers.(a) A society shall operate for the benefit of members and their beneficiaries by:(1) Providing benefits as specified in G.S. 58-24-75; and(2) Operating for one or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes for the benefit of its members, which may also be extended to others.Such purposes may be carried out directly by the society, or indirectly through subsidiary corporations or affiliated organizations.  (b) Every society shall have the power to adopt laws and rules for the government of the society, the admission of its members, and the management of its affairs. It shall have the power to change, alter, add to or amend such laws and rules and shall have such other powers as are necessary and incidental to carrying into effect the objects and purposes of the society. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-25 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-25 - Qualifications for membership.

 58-24-25. Qualifications for membership.(a) A society shall specify in its laws or rules:(1) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age 15 and not greater than age 21;(2) The process for admission to membership for each membership class; and(3) The rights and privileges of each membership class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society.(b) A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society.(c) Membership rights in the society are personal to the member and are not assignable. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-30 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-30 - Location of office, meetings, communications to members, grievance procedures.

 58-24-30. Location of office, meetings, communications to members, grievance procedures.(a) The principal office of any domestic society shall be located in this State. The meetings of its supreme governing body may be held in any state, district, province or territory wherein such society has at least one subordinate lodge, or in such other location as determined by the supreme governing body, and all business transacted at such meetings shall be as valid in all respects as if such meetings were held in this State. The minutes of the proceedings of the supreme governing body and of the board of directors shall be in the English language.(b) A society may provide in its laws for an official publication in which any notice, report, or statement required by law to be given to members, including notice of election, may be published. Such required reports, notices and statements shall be printed conspicuously in the publication. If the records of a society show that two or more members have the same mailing address, an official publication mailed to one member is deemed to be mailed to all members at the same address unless a member requests a separate copy.(c) Not later than June 1 of each year, a synopsis of the society's annual statement providing an explanation of the facts concerning the condition of the society thereby disclosed shall be printed and mailed to each benefit member of the society or, in lieu thereof, such synopsis may be published in the society's official publication.(d) A society may provide in its laws or rules for grievance or complaint procedures for members. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-40 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-40 - Waiver.

 58-24-40. Waiver.The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members shall have the power or authority to waive any of the provisions of the laws of the society. Such provision shall be binding on the society and every member and beneficiary of a member. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-50 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-50 - Amendments to laws.

 58-24-50. Amendments to laws.(a) A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body at any regular or special meeting thereof or, if its laws so provide, by referendum. Such referendum may be held in accordance with the provisions of its laws by the vote of the voting members of the society, by the vote of delegates or representatives of voting members or by the vote of local lodges. A society may provide for voting by mail. No amendment submitted for adoption by referendum shall be adopted unless, within six months from the date of submission thereof, a majority of the members voting shall have signified their consent to such amendment by one of the methods herein specified.(b) No amendment to the laws of any domestic society shall take effect unless approved by the Commissioner who shall approve such amendment if the Commissioner finds that it has been duly adopted and is not inconsistent with any requirement of the laws of this State or with the character, objects and purposes of the society. Unless the Commissioner shall disapprove any such amendment within 60 days after the filing of same, such amendment shall be considered approved. The approval or disapproval of the Commissioner shall be in writing and mailed to the secretary or corresponding officer of the society at its principal office. In case the Commissioner disapproves such amendment, the reasons therefor shall be stated in such written notice.(c) Within 90 days from the approval thereof by the Commissioner, all such amendments, or a synopsis thereof, shall be furnished to all members of the society either by mail or by publication in full in the official publication of the society. The affidavit of any officer of the society or of anyone authorized by it to mail any amendments or synopsis thereof, stating facts which show that same have been duly addressed and mailed, shall be prima facie evidence that such amendments or synopsis therof, have been furnished the addressee.(d) Every foreign or alien society authorized to do business in this State shall file with the Commissioner a duly certified copy of all amendments of, or additions to, its laws within 90 days after the enactment of same.(e) Printed copies of the laws as amended, certified by the secretary or corresponding officer of the society shall be prima facie evidence of the legal adoption thereof. (1987, c. 483, s. 2; 1991, c. 720, s. 4.)
NC Gen Stat § 58-24-55 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-55 - Institutions.

 58-24-55. Institutions.A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by G.S. 58-24-20(a)(2). Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-60 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-60 - Reinsurance.

 58-24-60. Reinsurance.(a) 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 Commissioner, but no such society may reinsure substantially all of its insurance in force without the written permission of the Commissioner. 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, 1988, 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.(b) Notwithstanding the limitation in subsection (a), a society may reinsure the risks of another society in a consolidation or merger approved by the Commissioner under G.S. 58-24-65. (1987, c. 483, s. 2; 1991, c. 720, s. 4.)
NC Gen Stat § 58-24-70 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-70 - Conversion of fraternal benefit society into mutual life insurance company.

 58-24-70. Conversion of fraternal benefit society into mutual life insurance company.Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the requirements of the general insurance laws 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. No such conversion shall take effect unless and until approved by the Commissioner who may give such approval if the Commissioner finds that the proposed change is in conformity with the requirements of law and not prejudicial to the certificateholders of the society. (1987, c. 483, s. 2; 1991, c. 720, s. 4.)
NC Gen Stat § 58-24-75 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-75 - Benefits.

 58-24-75. Benefits.(a) 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;(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 Article.(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. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-80 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-80 - Beneficiaries.

 58-24-80. Beneficiaries.(a) 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 may, through its laws or rules, 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.(b) 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.(c) 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. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-85 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-85 - Benefits not attachable.

 58-24-85. Benefits not attachable.No money or other benefit, charity, relief or aid to be paid, provided or rendered by any society, shall be liable to attachment, garnishment or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or liability of a member or beneficiary, or any other person who may have a right thereunder, either before or after payment by the society. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-95 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-95 - Nonforfeiture benefits, cash surrender values, certificate loans and other options.

 58-24-95. Nonforfeiture benefits, cash surrender values, certificate loans and other options.(a) For certificates issued prior to one year after January 1, 1988, 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, 1988.(b) For certificates issued on or after one year from January 1, 1988 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. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-100 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-100 - Investments.

 58-24-100. Investments.A society shall invest its funds only in investments that 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 must comply in substance with the investment requirements and limitations imposed by Article 7 of this Chapter and applicable to life insurers; provided, that any society that invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated, shall thereby be deemed to be in compliance with the investment requirements and limitations for a period of two years from January 1, 1988. (1987, c. 483, s. 2; 1995, c. 193, s. 29.)
NC Gen Stat § 58-24-105 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-105 - Funds.

 58-24-105. Funds.(a) 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.(b) 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.(c) 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, 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 G.S. 58-24-90(b) and G.S. 58-24-90(d) shall not apply. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-110 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-110 - Exemptions.

 58-24-110. Exemptions.Except as herein provided, societies shall be governed by this Article and shall be exempt from all other provisions of the general insurance laws of this State unless they be expressly designated therein, or unless it is specifically made applicable by this Article. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-115 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-115 - Taxation.

 58-24-115. Taxation.Every society organized or licensed under this Article 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 not occupied by such society in carrying on its business. (1987, c. 483, s. 2.)
NC Gen Stat § 58-24-120 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 24 - Fraternal Benefit Societies.|§ 58-24-120 - Valuation.

 58-24-120. Valuation.(a) Standards of valuation for certificates issued prior to one year after the effective date of this Article shall be those provided by the laws applicable immediately prior to January 1, 1988.(b) The minimum standards of valuation for certificates issued on or after one year from January 1, 1988, 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 non-cancellable 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.  (c) The Commissioner may, in his or her discretion, accept other standards for valuation if the Commissioner 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 Commissioner may, in his or her 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.(d) Any society, with the consent of the Commissioner of the state of domicile of the society and under such conditions, if any, which the Commissioner 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. (1987, c. 483, s. 2; 1991, c. 720, s. 4.)