Conn. Gen. Stat. § 38a-632

Current with legislation from the 2024 Regular and Special Sessions.

Section 38a-632 - (Formerly Sec. 38-224a). Additional benefits from special account

A society may pay benefits, other than insurance benefits, to its members from any special account or fund maintained for such purpose; provided, if such benefits are of such a nature that they could constitute benefits within the classes of insurance set forth in section 38a-631, a society making such payments may not:

(a) Make any separate charge therefor;

(b) issue any certificate, policy or other document promising such payments;

(c) provide in its constitution, laws or any other document that such payments may be received by the member as a matter of right; or

(d) advertise such payments as insurance or as payments to which the member has any right. The society shall maintain a separate accounting of all disbursements made under this section and report them in its annual statement.

Conn. Gen. Stat. § 38a-632

(1959, P.A. 624, S. 1.)