William Penn Life, 2016 (51. évfolyam, 1-12. szám)
2016 / Különszám
WILLIAM PENN ASSOCIATION BY-LAWS nated shall be paid to the heirs-at-law of the Member, if any. However, said heirs must prove their claim within two years of the death of the Member. In the event the claim is not proven, the death benefits shall be payable to the personal representative of the deceased Member. If the beneficiary is a minor under the laws of the state in which the minor beneficiary resides, the insurance proceeds otherwise belonging to such minor beneficiary shall be held by the Association in its Trust Account for the benefit of such minor beneficiary until such minor beneficiary attains the age of majority in such state, unless such state law requires otherwise. Section 1102. CONTINGENT BENEFICIARIES -Unless contrary to the law of the state in which the Member resides, contingent beneficiaries may be named. Death benefits are payable to contingent beneficiaries in the event the designated principal beneficiary predeceases the Member. Section 1103. DIVISION OF BENEFITS a. Where more than one beneficiary is named, the Member shall designate what amounts shall go to each beneficiary. Otherwise, equal shares shall go to each beneficiary. b. In the event one of the designated beneficiaries dies, his or her share of the benefits shall be divided among the surviving designated beneficiaries in equal shares. Section 1104. PRECEDENT DEATH OF ALL BENEFICIARIES - If none of the beneficiaries named in the Benefit Certificate should survive the Member, or if there are no beneficiaries named therein, then the surviving spouse, if any, shall be deemed a contingent beneficiary and the death benefit shall be paid to said spouse. If there is no surviving spouse, then the surviving children shall be deemed contingent beneficiaries and the death benefit shall be divided equally among them. If there is no surviving spouse and no surviving children, then the death benefit shall be paid to the personal representative of the deceased Member. Section 1105. DEATH BY THE HAND OF A BENEFICIARY - If a Member dies by the hand of a beneficiary, unless by accident, such beneficiary, whether sane or insane, shall not be entitled to any payment and his or her share of the death benefit shall be paid in accordance with the rules established for predeceased beneficiaries. Section 1106. CHANGE OF BENEFICIARY - A Member may change his or her beneficiaries at any time, but only on a form prescribed and furnished by or acceptable to the Association. Such form, properly filled out and accompanied by the membership certificate when requested, must be sent to the Home Office. The National Vice President- Secretary shall endorse the name or names of the new beneficiary or beneficiaries upon the certificate of the Member, or may issue a substitute certificate to him or her, subject to the same conditions as the one surrendered but containing the name or names of the newly designated beneficiary or beneficiaries. Such change shall take effect as of the date of request, but without prejudice to the Association by reason of any payment made under the contract prior to the receipt of the requested change at its Home Office. No change of beneficiary shall be allowed or be binding which is not requested in writing as herein provided. No change of beneficiary request shall be considered which is received at the Home Office after the death of the Member. No beneficiary or other person, except an assignee, shall have any vested interest in the benefits for any claim or loss against the Association or the Member due to any change in beneficiary. Section 1107. FUNERAL EXPENSES - The Association shall have the right to pay out of the proceeds of the membership certificate, a sum not to exceed the amount authorized by the beneficiary of said certificate towards funeral expenses of the deceased Member, to any person equitably entitled thereto by reason of having incurred burial expenses of the Member. Request for such payment must be made prior to the payment of the claim to the beneficiary. Section 1108. PREMIUM PAYMENTS - Premium payments shall be due in accordance with the provisions of the contract and these By-Laws. Section 1109. RIGHT OF ACTION - No court action may be started for any claim arising out of a Benefit Certificate, unless the action is started within the time allowed by the laws of the jurisdiction in which the cause of action arises. In the absence of any such laws, the court action must be started within three (3) years from the date the claim arises. Section 1110. RECEIPT OF PAYMENTS NOT A WAIVER - If the Association receives and temporarily holds a payment of premium, this action shall not constitute waiver of any of its defenses. If a certificate has lapsed or been forfeited, or if the Association has received a notice of cancellation, the payment of any premium for the certificate shall not revive or continue the certificate, whether made on notice of premium due or otherwise, and the amount of the payment shall be returned to the Member. ARTICLE 12 TAXES Should any jurisdiction in which this Association is licensed to do business require the Association to pay any sum as a tax on the receipts of the Association, the Board may, after the payment of said tax, by resolution, make a levy of the full amount of the tax on the Members in such jurisdiction, apportioning such amount in proportion to the premiums of each Member. Notice of sucb payment shall be given by the publication of a resolution of the Board in the official publication, and also by notice by the National Vice President-Secretary of the Association to the Members in said jurisdiction. Such publication and notice shall be deemed and held sufficient notice thereof to all Members within said jurisdiction. If such special payment is not paid to the Association at its Home Office on or before ninety (90) days from the date of issue of the official notice, the amount of such tax shall be charged against any monies due at any time on the certificate of such Member, with interest not to exceed statutory limits. William Penn Life 0 Special Convention Edition0 January 2016 0 35
