Section 632.96. Beneficiaries in fraternal contracts.

Latest version.

(1) Any owner may designate as beneficiary any person permitted by the laws of the fraternal. Those laws shall authorize the designation of the estate of a member or insured employee as beneficiary.

(2) Subject to sub. (1) , s. 632.48 applies.

1975 c. 373 , 421 ; 1989 a. 336 ; 1997 a. 177 . Legislative Council Note, 1975: Sub. (1) states a rule slightly more restrictive of the range of permitted beneficiaries than for commercial life insurance; this reflects the nature of the fraternal. Sub. (2) applies the general provision for life insurance, subject to sub. (1). [Bill 643-S]

                    
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