reglab/housing_qa huggingface dataset:
36 OK Stat § 36-2704.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2704.1. Definitions.

|As used in this article: |1. "Benefit contract" means the agreement for provision of benefits authorized by Section 16 of this act, as that agreement is described in subsection A of Section 19 of this act;2. "Benefit member" means an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract;3. "Certificate" means the document issued as written evidence of the benefit contract;4. "Laws" means the society's articles of incorporation, constitution and bylaws, however designated;5. "Lodge" means subordinate member units of the society, known as camps, courts, councils, branches or by any other designation;6. "Premiums" means premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate;7. "Rules" means 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; and8. "Society" means fraternal benefit society, unless otherwise indicated.Added by Laws 1992, c. 76, § 4, eff. Jan. 1, 1993.
36 OK Stat § 36-2705.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2705.1. Purposes - powers.

|A. A society shall operate for the benefit of members and their beneficiaries by: |1. Providing benefits as specified in Section 16 of this act; and2. 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.Added by Laws 1992, c. 76, § 5, eff. Jan. 1, 1993.
36 OK Stat § 36-2706.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2706.1. Laws or rules required.

|A. A society shall specify in its laws or rules: |1. Eligibility standards for each and every class of membership; provided, if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age fifteen (15) nor greater than age twenty-one (21);2. The process for admission to membership for each membership class; and3. The rights and privileges of each membership class; provided, 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.Added by Laws 1992, c. 76, § 6, eff. Jan. 1, 1993.
36 OK Stat § 36-2707.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2707.1. Principal office - Annual statement - Grievance and complaint 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. 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. 1. 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.2. 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.C. A society may provide in its laws or rules for grievance or complaint procedures for members.Added by Laws 1992, c. 76, § 7, eff. Jan. 1, 1993.
36 OK Stat § 36-2708.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2708.1. No personal liability - Indemnification and reimbursement - Insurance.

|A. The officers and members of the supreme governing body or any subordinate body of a society shall not be personally liable for any benefits provided by a society. |B. Any person may be indemnified and reimbursed by any society for expenses reasonably incurred by, and liabilities imposed upon, such person in connection with or arising out of any action, suit or proceeding, whether civil, criminal, administrative or investigative, or threat thereof, in which the person may be involved by reason of the fact that he or she is or was a director, officer, employee or agent of the society or of any firm, corporation or organization which he or she served in any capacity at the request of the society. A person shall not be so indemnified or reimbursed:1. In relation to any matter in such action, suit or proceeding as to which he or she shall finally be adjudged to be or have been guilty of breach of a duty as a director, officer, employee or agent of the society; or2. In relation to any matter in such action, suit or proceeding, or threat thereof, which has been made the subject of a compromise settlement,unless in either such case the person acted in good faith for a purpose the person reasonably believed to be in or not opposed to the best interests of the society and, in a criminal action or proceeding, in addition, had no reasonable cause to believe that his or her conduct was unlawful. The determination whether the conduct of such person met the standard required in order to justify indemnification and reimbursement in relation to any matter described in paragraph 1 or 2 of this subsection may only be made by the supreme governing body or board of directors by a majority vote of a quorum consisting of persons who were not parties to such action, suit or proceeding or by a court of competent jurisdiction. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, as to such person shall not in itself create a conclusive presumption that the person did not meet the standard of conduct required in order to justify indemnification and reimbursement. The foregoing right of indemnification and reimbursement shall not be exclusive of other rights to which such person may be entitled as a matter of law and shall inure to the benefit of his or her heirs, executors and administrators.C. A society shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the society, or who is or was serving at the request of the society as a director, officer, employee or agent of any other firm, corporation, or organization against any liability asserted against such person and incurred by him or her in any such capacity or arising out of his or her status as such, whether or not the society would have the power to indemnify the person against such liability under this section.Added by Laws 1992, c. 76, § 8, eff. Jan. 1, 1993.
36 OK Stat § 36-2709.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2709.1. 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. |Added by Laws 1992, c. 76, § 9, eff. Jan. 1, 1993.
36 OK Stat § 36-2711.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2711.1. Articles of incorporation, constitution and laws - Amendments.

|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. The referendum may be held in accordance with the provisions of its laws 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 (6) months from the date of the 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 Insurance 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 sixty (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 ninety (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 thereof, 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 ninety (90) days after enactment.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.Added by Laws 1992, c. 76, § 11, eff. Jan. 1, 1993.
36 OK Stat § 36-2712.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2712.1. Institutions.

|A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by paragraph 2 of subsection A of Section 5 of this act. 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, but shall not be allowed as an admitted society asset. No society shall own or operate funeral homes or undertaking establishments. |Added by Laws 1992, c. 76, § 12, eff. Jan. 1, 1993.
36 OK Stat § 36-2713.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2713.1. 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 Insurance Commissioner; provided, 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 the effective date of this act, unless the reinsurance is payable by the assuming insured 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 of this section, a society may reinsure the risks of another society in a consolidation or merger approved by the Commissioner under Section 14 of this act.Added by Laws 1992, c. 76, § 13, eff. Jan. 1, 1993.
36 OK Stat § 36-2715.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2715.1. Conversion of fraternal benefit society into mutual life insurance company or stock legal reserve life insurance company.

|A. 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 (2/3) of all members of the supreme governing body at a regular or special meeting shall be necessary for approval of the plan. No conversion shall take effect unless and until approved by the Insurance Commissioner who may give approval if the Commissioner finds that the proposed change is in conformity with the requirements of law and not prejudicial to the certificate holders of the society. |B. Any domestic fraternal benefit society may be converted and licensed as a stock legal reserve life insurance company by compliance with all the requirements of the applicable provisions of the Insurance Code if such plan of conversion has been approved by the Commissioner. Such plan shall be prepared in writing setting forth in full the terms and conditions thereof. The board of directors shall submit the plan to the supreme legislative or governing body of the society at any regular or special meeting thereof, by giving a full, true, and complete copy of the plan together with notice of the meeting. The notice shall be given as provided in the laws of the society for the convocation of a regular or special meeting of the governing body, as the case may be. The affirmative vote of two-thirds (2/3) of all members of the governing body shall be necessary for the approval of the agreement. No conversion shall take effect unless and until approved by the Commissioner who may give approval if the Commissioner finds that the proposed change is in conformity with the requirements of law and not prejudicial to the certificate holders of the society. If such fraternal benefit society is converted into a stock legal reserve life insurance company, each and every certificate holder shall be entitled to purchase that proportion of the total capital stock of the company as the amount of his insurance in force bears to the society's total insurance in force and outstanding at the time the Commissioner approved the proposed plan of conversion. Each certificate holder shall have the exclusive right to purchase said stock within thirty (30) days after receiving notice from the society of such right and the fact that the conversion has been approved by the membership. Any stock not purchased by the certificate holders may then be sold by the board of directors.Added by Laws 1992, c. 76, § 15, eff. Jan. 1, 1993.
36 OK Stat § 36-2716.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2716.1. 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; and7. 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 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.Added by Laws 1992, c. 76, § 16, eff. Jan. 1, 1993.
36 OK Stat § 36-2717.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2717.1. 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; provided, the payment shall not exceed the sum of Fifteen Thousand Dollars ($15,000.00).C. If, at the death of any member, there is no lawful beneficiary to whom the insurance benefits are payable, the amount of such benefits, 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, if the owner of the certificate is other than the insured, such proceeds shall be payable to such owner.Added by Laws 1992, c. 76, § 17, eff. Jan. 1, 1993.
36 OK Stat § 36-2718.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2718.1. 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. |Added by Laws 1992, c. 76, § 18, eff. Jan. 1, 1993.
36 OK Stat § 36-2720.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2720.1. Nonforfeiture benefits - Cash surrender values - Certificate loans or other options.

|A. For certificates issued prior to one (1) year after the effective date of this act, 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 the effective date of this act. |B. For certificates issued on or after one (1) year from the effective date of this act for which reserves are computed on the Insurance Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Table, 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.Added by Laws 1992, c. 76, § 20, eff. Jan. 1, 1993.
36 OK Stat § 36-2721.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2721.1. Investments.

|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. |Added by Laws 1992, c. 76, § 21, eff. Jan. 1, 1993.
36 OK Stat § 36-2722.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2722.1. 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 a licensed public accountant or a certified public accountant holding a permit to practice accounting, 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 B and D of Section 19 of this act shall not apply.Added by Laws 1992, c. 76, § 22, eff. Jan. 1, 1993.
36 OK Stat § 36-2723.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2723.1. Exemptions.

|The provisions of this act apply only to fraternal benefit societies, and societies shall be governed by this act to the extent provided herein. Societies shall be exempt from all other provisions of the insurance laws of this state except that the provisions of Article 1 (Scope of Title), Article 3 (Insurance Department and Insurance Commissioner), Sections 606, 610, 612.1, 616, 617, 620 and 628 of Article 6 (Authorization of Insurers and General Requirements), Article 16 (Investments), Article 17 (Administration of Deposits), and Article 19 (Rehabilitation and Liquidation), of the Insurance Code, shall apply to societies to the extent that such provisions are not in conflict with the provisions of this article. No law relating to insurance hereafter enacted shall apply to societies unless they are expressly designated therein. |Added by Laws 1992, c. 76, § 23, eff. Jan. 1, 1993. Amended by Laws 2006, c. 264, § 57, eff. July 1, 2006.
36 OK Stat § 36-2724.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2724.1. Taxation.

|Every society organized or licensed under this act 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. |Added by Laws 1992, c. 76, § 24, eff. Jan. 1, 1993.