N.Y. Insurance Law Section 4520
Non-liability of officers and members

Officers and members of the supreme or any subordinate body of any authorized society shall not be individually liable for the payment of any benefits provided for in the laws and agreements of such society, but the same shall be payable only out of the funds of such society and in the manner provided by its laws.

Source: Section 4520 — Non-liability of officers and members, https://www.nysenate.gov/legislation/laws/ISC/4520 (updated Sep. 22, 2014; accessed Mar. 9, 2025).

4501
Definitions 4502
Incorporation and licensing of domestic societies 4503
Licensing of foreign and alien societies 4504
Amendments to charter, constitution and by-laws 4505
Insurance benefits authorized 4506
Classes of membership 4507
Juvenile members 4508
Beneficiaries 4509
Certificates 4510
Life insurance certificates 4511
Life insurance certificates and annuity contracts 4512
Accident and health and disability insurance certificates 4513
Annuity certificates 4514
Creation and maintenance of separate funds 4515
Conditions for avoiding separate funds 4516
Annual statement 4517
Standard of valuation reserves 4518
Amounts credited on life insurance certificates 4519
Impairment of reserves and surplus 4520
Non-liability of officers and members 4521
Grounds for revocation or suspension of license 4522
Exemptions of certain organizations 4523
Soliciting membership in unauthorized societies 4524
Exemption from taxation 4525
Application of other provisions of this chapter 4526
Investments of fraternal benefit societies 4527
Optional authority and regulation 4528
New business limitations 4529
Subsidiaries authorized 4530
Optional Investment Authority

Accessed:
Mar. 9, 2025

Last modified:
Sep. 22, 2014

§ 4520’s source at nysenate.gov

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Location: https://newyork.public.law/laws/n.y._insurance_law_section_4520

Original Source: Section 4520 — Non-liability of officers and members, https://www.nysenate.gov/legislation/laws/ISC/4520 (last accessed Aug. 20, 2023).