The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
(Cite as: 8 V.S.A. § 4492)
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§ 4492. Funds
(a) All assets shall be held, invested, and disbursed for the use and benefit of the society,
and a member or beneficiary shall not have or acquire individual rights in such assets
or become entitled to any apportionment or the surrender of any part of such assets,
except as provided in the contract.
(b) A society may create, maintain, invest, disburse, and apply any special fund or funds
necessary to carry out any purpose permitted by the laws of the society.
(c) Every society, the admitted assets of which are less than the sum of its accrued liabilities
and reserves under all of its certificates when valued according to standards required
for certificates issued after one year from November 22, 1959 shall, in every provision
of the laws of the society for payments by members of the society, in whatever form
made, distinctly state the purpose of them and the proportion of them that may be
used for expenses, and no part of the money collected for mortuary or disability purposes
or the net accretions of such money shall be used for expenses. (Added 1959, No. 197, § 32, eff. Nov. 22, 1959; amended 2021, No. 105 (Adj. Sess.), § 200, eff. July 1, 2022.)