The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 121 : Fraternal Benefit Societies
(Cite as: 8 V.S.A. § 4461)-
§ 4461. Fraternal benefit societies defined
(a) Any incorporated society, order, or supreme lodge, without capital stock, including one exempted under the provisions of subdivision 4502(a)(2) of this title, whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and that makes provision for the payment of benefits in accordance with this chapter, is hereby declared to be a fraternal benefit society.
(b) As used in this chapter:
(1) “Society” means a fraternal benefit society.
(2) “Commissioner” means the Commissioner of Financial Regulation. (Added 1959, No. 197, § 1, eff. Nov. 22, 1959; amended 2021, No. 105 (Adj. Sess.), § 185, eff. July 1, 2022.)
