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Section 11033 Of Article 3. Organization From California Insurance Code >> Division 2. >> Part 2. >> Chapter 10. >> Article 3.
11033
. A society maintaining special funds of the nature set forth
in Section 11122 may make payments from such funds to its members
compatible with the type thereof; provided that, if such payments are
of such a nature that they could constitute benefits within the
classes of insurance set forth in Section 11041, the society making
such payments may not:
(a) Make any separate charge therefor;
(b) Issue any certificate, policy or other document promising such payments;
(c) Provide in its constitution, by-laws or any other document that such payments may be received by any member of such society as a matter of right; nor
(d) Advertise such payments as insurance or as payments to which the member has any right. No such special funds shall be an admitted asset of the society in excess of the amount of the liabilities of such special fund. The society shall maintain a separate accounting of any disbursements under this section and report them in its annual statement.
(a) Make any separate charge therefor;
(b) Issue any certificate, policy or other document promising such payments;
(c) Provide in its constitution, by-laws or any other document that such payments may be received by any member of such society as a matter of right; nor
(d) Advertise such payments as insurance or as payments to which the member has any right. No such special funds shall be an admitted asset of the society in excess of the amount of the liabilities of such special fund. The society shall maintain a separate accounting of any disbursements under this section and report them in its annual statement.
