1996 Alaska Statutes
TITLE 21 INSURANCE
Chapter 21.84. FRATERNAL BENEFIT SOCIETIES
Sec. 21.84.170. Institutions.
(a) It is lawful for a society to create, maintain, and operate charitable, benevolent, or educational institutions for the benefit of its members and their families and dependents and for the benefit of children insured by the society. For that purpose it may own, hold, or lease personal property or real property located inside or outside this state, with necessary buildings thereon. The property shall be reported in every annual statement but may not be allowed as an admitted asset of the society.
(b) Maintenance, treatment, and proper attendance in the institution may be furnished free or a reasonable charge may be made therefor, but an institution may not be operated for profit. The society shall maintain a separate accounting of income and disbursements under this section and report them in its annual statement.
(c) A society may not own or operate funeral homes or undertaking establishments.
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