reglab/housing_qa huggingface dataset:
CO Code § 10-14-201 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 2 - Membership|§ 10-14-201. Qualifications for Membership

  A society shall specify in its governing documents or rules:   Eligibility standards for each and every class of membership. If benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than fifteen years of age and not greater than twenty-one years of age.    The process for admission to membership for each membership class; and    The rights and privileges of each membership class. Only benefit members shall have the right to vote on the management of the insurance affairs of the society.       A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society.    Membership rights in the society are personal to the member and are not assignable.     History. Source: L. 93: Entire article amended with relocations, p. 588, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-108 as it existed prior to 1993.   ANNOTATION   Annotator's note. Since § 10-14-201 is similar to § 10-14-108 as it existed prior to the 1993 amendment to article 14, which resulted in the relocation of provisions, a relevant case decided under that provision has been included in the annotations to this section.   Person who misrepresents age is not aided by retroactive lowering of age limit. Retroactive amendment to the charter of a fraternal benefit society as to the age limit of members held not to apply to one who procured his alleged membership by misrepresenting his age. Wiltshire v. Modern Woodmen of Am., 76 Colo. 460 , 232 P. 925 (1925).
CO Code § 10-14-202 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 2 - Membership|§ 10-14-202. Principal Office - Meetings - Communications to Members - Grievance Procedures

  The principal office of any domestic society shall be located in this state and comply with the provisions of section 10-3-128. 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.      A society may provide in its governing documents for an official publication in which any notice, report, or statement required by statute 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.    Not later than June 1 of each year, a synopsis of the society's annual statement, as of the immediately preceding December 31, 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.    A society may provide for procedures in its governing documents for grievances or complaints by members.         History. Source: L. 93: Entire article amended with relocations, p. 589, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-119 as it existed prior to 1993.
CO Code § 10-14-204 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 2 - Membership|§ 10-14-204. Waiver

 The governing documents 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 governing documents of the society. Such provision shall be binding on the society and every member and beneficiary of a member.   History. Source: L. 93: Entire article amended with relocations, p. 590, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-121 as it existed prior to 1993.   ANNOTATION   Annotator's note. Since § 10-14-204 is similar to § 10-14-121 as it existed prior to the 1993 amendment to article 14 which resulted in the relocation of provisions, relevant cases construing that provision have been included in the annotations to this section.   Waiver of nonpayment of premiums or dues. Where it is established that an insurance society accepted payment of premiums after the insured was in default, and that it was aware of such default, a waiver is established, and the case does not fall within this section, concerning waivers of the provisions of the laws and constitution of such societies. Lagrow v. Head Camp, Pac. Jurisdiction, Woodmen of World, 75 Colo. 466 , 226 P. 1086 (1924); Fraternal Aid Union v. Murray, 81 Colo. 236 , 254 P. 997 (1927).
CO Code § 10-14-303 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 3 - Governance|§ 10-14-303. Institutions

 A society may create, maintain, and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by section 10-14-105 (1)(b) . 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.   History. Source: L. 93: Entire article amended with relocations, p. 595, § 1, effective July 1.
CO Code § 10-14-304 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 3 - Governance|§ 10-14-304. Reinsurance

  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. It may take credit for the reserves on such ceded risks to the extent reinsured, but no credit is 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 July 1, 1993, unless the reinsurance complies with the applicable provisions of part 7 of article 3 of this title and all pertinent insurance rules.    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 commissioner under section 10-14-305.     History. Source: L. 93: Entire article amended with relocations, p. 595, § 1, effective July 1. L. 2014: (1) amended,(HB 14-1315), ch. 295, p. 1218, § 7, effective January 1, 2015.
CO Code § 10-14-306 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 3 - Governance|§ 10-14-306. Conversion of Fraternal Benefit Society Into a Mutual or Stock Life Insurance Company

 Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company or stock life insurance company by compliance with all the requirements of this title pertaining to a life insurance company. 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 statutory requirements and not prejudicial to the certificate holders of the society.   History. Source: L. 93: Entire article amended with relocations, p. 597, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-115 (2) as it existed prior to 1993.
CO Code § 10-14-401 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 4 - Contractual Benefits|§ 10-14-401. Benefits

  A society may provide the following contractual benefits as authorized by the certificate of authority issued:   Death benefits;    Endowment benefits;    Annuity benefits;    Temporary or permanent disability benefits;    Hospital, medical, or nursing benefits;    Monument or tombstone benefits to the memory of deceased members; and    Such other benefits as authorized for life insurers and which are not inconsistent with this article.       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.     History. Source: L. 93: Entire article amended with relocations, p. 597, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-105 as it existed prior to 1993.
CO Code § 10-14-403 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 4 - Contractual Benefits|§ 10-14-403. 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, beneficiary, or any other person who may have a right thereunder either before or after payment by the society.   History. Source: L. 93: Entire article amended with relocations, p. 599, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-122 as it existed prior to 1993.   ANNOTATION   Fund realized from fraternal society insurance not liable for decedent's debts. It is provided by this section that the fund shall not be liable for the debt of any certificate holder or beneficiary named therein. Hendrie & Balthoff Mfg. Co. v. Platt, 13 Colo. App. 15, 56 P. 209 (1899) (decided prior to L. 11, p. 434 , § 21, the earliest source of this section).
CO Code § 10-14-405 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 4 - Contractual Benefits|§ 10-14-405. Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, and Other Options

  For certificates issued prior to July 1, 1994, 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 statutory provisions applicable immediately prior to July 1, 1993.    For certificates issued on or after July 1, 1994, each certificate shall provide for paid-up nonforfeiture benefits, cash surrender values, loans, or other options in an amount and type not less than the corresponding amount ascertained in accordance with the statutes of this state applicable to life insurers issuing policies containing like benefits based upon applicable mortality tables.     History. Source: L. 93: Entire article amended with relocations, p. 601, § 1, effective July 1.
CO Code § 10-14-501 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 5 - Financial|§ 10-14-501. Investments

 A society shall invest its funds only in such investments as are authorized by the statutes of this state including but not limited to sections 10-3-210 to 10-3-242 and part 8 of article 3 of this title for the investment of the assets of life insurers.   History. Source: L. 93: Entire article amended with relocations, p. 601, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-111 as it existed prior to 1993.
CO Code § 10-14-502 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 5 - Financial|§ 10-14-502. Funds

  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.    A society may create, maintain, invest, disburse, and apply any special fund or funds necessary to carry out any purpose permitted by the governing documents of such society.    A society may, pursuant to resolution of its supreme governing body and with prior written approval of the commissioner, establish and operate one or more separate accounts and issue contracts on a variable basis, subject to the statutory provisions and regulations regarding life insurers establishing such accounts and issuing such contracts. To the extent the society deems it necessary to comply with any applicable federal or state statutes, or any rules issued pursuant thereto, the society may:   Adopt special procedures for the conduct of the business and affairs of a separate account;    Provide, for persons having beneficial interests therein, 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    Issue contracts on a variable basis to which section 10-14-404 (2) and (4) shall not apply.        History. Source: L. 93: Entire article amended with relocations, p. 602, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-110 as it existed prior to 1993.   Cross references:   For the provisions regarding variable contracts issued by life insurers, see part 4 of article 7 of this title 10.
CO Code § 10-14-503 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 5 - Financial|§ 10-14-503. Exemptions

 Except as provided in this section, societies shall be governed by the provisions of this article and shall be exempt from all other provisions of the insurance statutes of this state unless the terms of such statutes expressly apply to societies, or unless any such insurance statute is specifically made applicable to societies by this article. Societies shall comply with the applicable provisions of section 10-3-208 ; part 7 of article 3 of this title; and article 16 of this title.   History. Source: L. 93: Entire article amended with relocations, p. 603, § 1, effective July 1. L. 2001: Entire section amended, p. 1048, § 30, effective July 1. L. 2013: Entire section amended,(HB 13-1115), ch. 338, p. 1971, § 6, effective March 31, 2015. L. 2016: Entire section amended,(SB 16-189), ch. 210, p. 756, § 12, effective June 6.    Editor's note:   This section is similar to former § 10-14-104 as it existed prior to 1993.   ANNOTATION   Annotator's note. Since § 10-14-503 is similar to § 10-14-104 as it existed prior to the 1993 amendment to article 14 which resulted in the relocation of provisions, relevant cases construing that provision have been included in the annotations to this section.   Fraternal societies are exempt from general insurance laws. An intention is manifest in the laws governing fraternal benefit societies to exempt them from the provisions of the general insurance laws of the state, particularly by the provisions of this section. Neighbors v. Westover, 99 Colo. 231 , 61 P.2d 585 (1936).   They are also not controlled by general corporation law. The legislative policy of Colorado has been to differentiate between commercial corporations and fraternal benefit societies, the latter being controlled by the provisions of this article and not by title 7 of these statutes. Sovereign Camp of Woodmen of World v. Woodmen of World, 73 Colo. 57 , 213 P. 579 (1923).
CO Code § 10-14-504 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 5 - Financial|§ 10-14-504. 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 and office equipment.   History. Source: L. 93: Entire article amended with relocations, p. 603, § 1, effective July 1.    Editor's note:   This section is similar to former § 10-14-133 as it existed prior to 1993.   ANNOTATION   Annotator's note. Since § 10-14-504 is similar to § 10-14-133 as it existed prior to the 1993 amendment to article 14 which resulted in the relocation of provisions, a relevant case construing that provision has been included in the annotations to this section.   Corporation must have all the indicia of a fraternal society to avoid premium tax. The general assembly imposes a tax upon gross premium income of insurance companies. Fraternal and benevolent corporations defined as those which have a lodge system with a ritualistic form of work and representative form of government are exempted. It has clearly defined what is meant by “lodge system” and “representative government”. Since the reorganization, Homesteaders has not had a lodge system; it has not had a representative form of government; nor has it performed any ritualistic work. These are requirements essential to a status that would exempt it from the tax under discussion. Beery v. Homesteaders Life Co., 146 Colo. 218 , 361 P.2d 127 (1961).   Fraternal benevolent societies are not exempt from sales taxes that were not contemplated in 1911 when they were declared to be “charitable and benevolent institution[s]” when such sales tax was first adopted in 1935 and the legislature imposed the tax on “all sales and purchases of tangible personal property at retail”. This is particularly true if the legislation that created the tax listed specific exemptions that did not include fraternal benevolent societies. Colo. Dept. of Rev. v. Woodmen of the World, 919 P.2d 806 (Colo. 1996).   The reintroduction of the words “and every” to a phrase making it read “all and every state tax” does not strengthen and reaffirm the broad scope of the exemption for fraternal benefit societies, it merely was replaced after being determined by the revisor of statutes to be redundant. The meaning of the phrase remains unchanged. Colo. Dept. of Rev. v. Woodmen of the World, 919 P.2d 806 (Colo. 1996).
CO Code § 10-14-505 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 5 - Financial|§ 10-14-505. Rules and Regulations of Commissioner

 The commissioner may establish and from time to time amend such reasonable rules and regulations as are necessary to enable the commissioner to carry out the commissioner's duties under the laws of this state and the provisions of this article.   History. Source: L. 93: Entire article amended with relocations, p. 603, § 1, effective July 1.
CO Code § 10-14-601 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 6 - Regulation|§ 10-14-601. Valuation

  Standards of valuation for certificates issued prior to July 1, 1994, shall be those provided by the statutes applicable immediately prior to July 1, 1993.    The minimum standards of valuation for certificates issued on or after July 1, 1994, shall be based on the valuation methods, standards, and practices (including interest assumptions) set forth in the statutes of this state applicable to life insurers issuing policies containing like benefits.     History. Source: L. 93: Entire article amended with relocations, p. 603, § 1, effective July 1.    Cross references:   For provisions regarding valuation of life insurance policies, see §§ 10-7-101 , 10-7-309 , and 10-7-309 .5.
CO Code § 10-14-602 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 6 - Regulation|§ 10-14-602. Reports

 Reports shall be filed in accordance with the provisions of this section. Every society transacting business in this state shall annually, on or before the first day of March, file with the commissioner a true statement of its financial condition, transactions, and affairs for the preceding calendar year, unless for cause shown such time has been extended by the commissioner. The statement shall at least include the substance of that which is required by what is known as the convention blank form adopted from year to year by the national association of insurance commissioners for fraternal benefit societies, including any instructions, procedures, and guidelines not in conflict with the provisions of this article, actuarial statements and requirements of reserves in accordance with the statutes of this state applicable to life insurers, and any additional information required by the commissioner.   History. Source: L. 93: Entire article amended with relocations, p. 603, § 1, effective July 1.
CO Code § 10-14-603 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 6 - Regulation|§ 10-14-603. Annual Certificate of Authority

 Societies that are authorized to transact business in this state as of July 1, 1993, and all societies authorized thereafter, may continue such business until June 30, 1994. The authority of all such societies may thereafter be renewed annually but shall terminate on the last day of the succeeding June. However, a certificate of authority so issued shall continue in full force and effect unless specifically terminated. For each such certificate of authority or renewal the society shall pay to the division of insurance fees as prescribed pursuant to sections 10-3-207 and 24-31-104.5 , C.R.S. A duly certified copy or duplicate of such certificate of authority shall be prima facie evidence that the society is a fraternal benefit society within the meaning of this article.   History. Source: L. 93: Entire article amended with relocations, p. 604, § 1, effective July 1. L. 2010: Entire section amended,(HB 10-1385), ch. 204, p. 884, § 6, effective May 5. L. 2012: Entire section amended,(SB 12-110), ch. 158, p. 561, § 8, effective July 1.    Editor's note:   This section is similar to former § 10-14-116 (1) as it existed prior to 1993.
CO Code § 10-14-604 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 6 - Regulation|§ 10-14-604. Cash Capital

 To avoid situations where a society's transactions would create undue financial risks to its enrollees, subscribers, certificate holders, or the people of this state, the regulations specified in this section are authorized. The commissioner may by regulation establish standards consistent with those of the national association of insurance commissioners which require any society to maintain a minimum surplus level. The minimum surplus level shall reflect the type, volume, and nature of the insurance business being transacted and the type of entity for which the surplus levels are being established in accordance with the assessment features of societies. The regulation may additionally require the submission of an opinion by a qualified actuary which states whether the surplus level of the entity is sufficient for the authority requested.   History. Source: L. 93: Entire article amended with relocations, p. 604, § 1, effective July 1.
CO Code § 10-14-605 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 14 - Fraternal Benefit Societies|Part 6 - Regulation|§ 10-14-605. Examination of Societies

 The examination of societies, both at the initial formation and at any time during which any such society is authorized to transact business in this state, shall follow the same standards and procedures that apply to life insurers. The cost of any such examination may be assessed by the commissioner to be paid by the society.   History. Source: L. 93: Entire article amended with relocations, p. 604, § 1, effective July 1.    Cross references:   For provisions relating to examination of insurance companies, see part 2 of article 1 of this title 10 and § 10-3-806 .