(A) A society may provide the following contractual benefits in any form:

(1) death;

Terms Used In South Carolina Code 38-38-310

  • Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
  • 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. See South Carolina Code 38-38-40
  • Society: means fraternal benefit society, unless otherwise indicated. See South Carolina Code 38-38-40

(2) endowment;

(3) annuity;

(4) temporary or permanent disability;

(5) hospital, medical, or nursing;

(6) monument or tombstone benefits to the memory of deceased members; and

(7) other benefits as authorized for life insurers under this title, provided the benefit is:

(a) offered in compliance with the requirements of this title, and

(b) consistent with this chapter.

(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.

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