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§4529

§4529 . Subsidiaries authorized.

§4529(a)

(a) A domestic fraternal benefit society may invest in subsidiaries as authorized in article 17 of this chapter for domestic life insurance companies, provided such society meets the requirements of subsection §4527(b) or §4530 of this article.

§4529(b)

(b) A domestic fraternal benefit society may create, maintain and operate, or may establish organizations to operate, not-for-profit institutions to provide 1 or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious benefits to members. Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in the society's annual statement.
Source Data downloaded: 2009-04-09 15: 15: 34;       Processed: 2009-05-08 15: 36: 13


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