Chap. 0040 An Act in relation to the admission of fraternal beneficiary organizations of other states.

Be it enacted, etc., as follows:

Section 1. Section eleven of chapter four hundred twenty-nine of the acts of the year eighteen hundred eighty-eight, as amended by section one of chapter three hundred forty-one of the acts of the year eighteen hundred ninety, is hereby amended by striking out, in the first and second lines, the words "associations or societies ", and adding to the section at the end thereof the following : - Corporations of other states paying only disability and death benefits may, upon complying with the provisions of this act, be admitted to this Commonwealth. The transaction of the business defined in this act, by any corporation, association, partnership or individuals, unless organized or admitted as provided herein, is forbidden, - so as to read as follows: - Section 11. Fraternal beneficiary corporations organized under the laws of another state, now transacting in this Commonwealth business as herein defined, may continue such business upon the plans heretofore governing them, as reported to the insurance department, and by otherwise conforming to the provisions of this act Corporations of other states paying only disability and death benefits may, upon complying with the provisions of this act, be admitted to this Commonwealth. The transaction of the business defined in this act, by any corporation, association, partnership or individuals, unless organized or admitted as provided herein, is forbidden.
Section 2.   This act shall take effect upon its passage.
Approved 3farch 4, 1S92.