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2012 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 378 Fraternal Benefit Societies
Section 378.606 Laws and rules, requirements--membership rights nonassignable.

Universal Citation:
MO Rev Stat § 378.606 (2012)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Laws and rules, requirements--membership rights nonassignable.

378.606. 1. A society shall specify in its laws or rules:

(1) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than age fifteen and not greater than age twenty-one;

(2) The process for admission to membership for each membership class; and

(3) The rights and privileges of each membership class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society.

2. A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society.

3. Membership rights in the society are personal to the member and are not assignable.

(L. 1992 S.B. 831)

Effective 1-1-93

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