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Alaska Statutes.

Title 21. Insurance

Chapter 72. Benevolent Associations

Section 150. Membership Contract.

AS 21.72.150. Membership Contract.

(a) A "membership contract" is a certificate, policy, membership agreement, by whatever name called, or a promise or agreement, of a benevolent association with any or all of its members, whereby money or other benefit, charity, aid, or relief is to be paid, provided, or rendered by the association upon the decease of a member to the legal representatives of the member, or to the beneficiary or beneficiaries designated by the member.

(b) There shall be one contributing member for each membership contract, but a membership contract may cover more than one individual.

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Last modified 9/3/2005