( b) Determination of Indemnity. Any indemnification under Paragraph( a) of this Article( unless otherwise ordered by a court) shall be made by the Society only as authorized in the specific case upon a determination that indemnification of the Director, officer, employee, or agent is proper in the circumstances because he or she has met the applicable standard of conduct set forth in the applicable provision of Wisconsin law. Such determination shall be made by one of the following means.( 1) By the Board by a majority vote of a quorum consisting of Directors who were not parties to such action, suit, or proceeding, or( 2) If a quorum of disinterested Directors cannot be obtained, by majority vote of a committee duly appointed by the Board of Directors and consisting solely of two( 2) or more Directors not at the time parties to the same or related proceedings, or( 3) By independent legal counsel selected in accordance with sec. 181.043( 2), Wis. Stats., as amended from time to time.
( c) Maintenance of Insurance. The Board may authorize the Society to purchase and maintain insurance on behalf of any person who is a Director, officer, employee, or agent of the Society against liability asserted against and incurred by the person in that person’ s capacity as a Director, officer, employee, or agent, or arising from that person’ s status as a Director, officer, employee, or agent, regardless of whether the Society is required or authorized to indemnify the person against the same liability.
( d) Notification of Commissioner. No indemnification may be paid to any Director, officer, employee, or agent under this Article until at least thirty( 30) days ' notice to the Commissioner of Insurance of the State of Wisconsin containing full details of the proposed indemnification.
ARTICLE VII. WAIVER No officer, Director, employee, member, agent, or subordinate body shall have any authority or power to waive, add to, or amend any provisions of the laws of the Society. Such provisions shall be binding on the Society and every member and beneficiary of a member.
ARTICLE VIII. MAINTENANCE OF SOLVENCY If the Society’ s reserves as to all or any class of policies or contracts become impaired, the Board may require that there be paid by the insured to the Society the amount of the equitable proportion of each deficiency as asserted by the Board. If the payment is not made, it shall stand as an indebtedness against the policy or contract. Such indebtedness shall draw interest on the same conditions as other policy loans, as stated in your policy, with interest fixed by the Society.
ARTICLE IX. RETURN TO POLICYHOLDERS The Board may make such apportionment of gains and savings by declaring dividends( return to policyholders) to all or any class of policies and contracts and shall provide the manner in which such dividends to policyholders and contract holders shall be paid or credited.
ARTICLE X. BENEFIT CERTIFICATES( a) The certificate of membership and insurance or annuity, together with any riders or endorsements attached to it, the application, the declaration of insurability( if any) signed by the applicant, the Articles of Incorporation and Bylaws of the Society and all amendments to them, constitute the entire contract when it is issued. Any subsequent changes, additions, or amendments to the Articles of Incorporation or Bylaws shall be binding upon the applicant member, certificate owner, beneficiaries, and other persons affected, and shall govern and control in all respects, except that no changes shall destroy or diminish insurance and / or annuity benefits promised in the certificate when it was issued.( b) In the event the named beneficiaries of a certificate predecease the insured or are otherwise not legally entitled to receive certificate proceeds, the certificate proceeds shall be paid per stirpes to the family members of the insured identified by the Society in the following succession, as applicable,( i) the surviving spouse;( ii) children;( iii) grandchildren. In the event it is determined that the deceased has no such living relatives, after a reasonable search, the certificate proceeds shall be paid to the estate of the insured. Where the Society has made a good faith payment of the proceeds, such payment shall discharge all obligations under the certificate.
ARTICLE XI. DISPUTE RESOLUTION( a) Purpose. The purpose of this Article is to prescribe the sole means to present and resolve grievances, complaints, or disputes between members, insureds, certificate owners, or beneficiaries and their heirs, administrators, successors, guardians, representatives, and assigns and the Society or its Directors, officers, agents, and employees. Procedures set forth in this Article are meant to provide prompt, fair, and efficient opportunities for dispute resolution, consistent with the fraternal nature of the Society, without delay and expense of formal legal proceedings.
( b) Scope. This Article applies to any controversy, claim, or action of any kind arising out of, in connection with, or in relation to( i) membership in the Society and( ii) any past, current, or future insurance policy, contract, or certificate issued by the Society. It includes, without limitation, claims based on breach of contract, as well as claims based on fraud, misrepresentation, violation of statute, discrimination, denial of civil rights, conspiracy, defamation, and infliction of distress against the Society or its Directors, officers, agents, or employees. To the extent permitted by applicable law, this Article applies to all claims, actions, disputes, and grievances brought by the Society against members, insureds, certificate owners, or beneficiaries and their heirs, administrators, successors, guardians, representatives, successors, and assigns. In the event that a court or arbitrator of competent jurisdiction deems any party or claim in a dispute not subject to this Article, this Article will remain in full force and effect as to any remaining parties or claims involved in such dispute. This Article does not apply to any claims or disputes relating to interpleader actions to determine proper owner, beneficiary, or payee.
( c) Dispute Resolution Procedures. No lawsuits or any other actions may be brought for any claims or disputes covered by this Article. All disputes covered by this Article will be resolved in accordance with the following procedures, which will occur in the order given in this Paragraph( c):( 1) Appeal. Any dispute covered by this Article must be submitted to the Society’ s compliance officer at its home office
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