US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 32
                         FRATERNAL BENEFIT SOCIETIES
    41-3222.  FUNDS. (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 (1) 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 subsections (2) and (4) of section 41-3219, Idaho Code, shall
not apply.