17:45-7 - Certain provisions prohibited; fees - New Jersey Statutes

17:45-7.  Certain provisions prohibited;  fees
    No certificate contracting to pay a death benefit or providing sickness or accident benefits which contain any of the following provisions shall be issued  by any association authorized under this chapter:

    a.  A provision which limits the time within which any action at law of in equity may be commenced to less than five years after the cause of action shall  accrue in the case of a certificate making provision for a death benefit only  or less than one year in the case of a certificate providing for sickness or  accident disability benefits.

    b.  A provision by which maximum benefits provided in the certificate become  effective after the lapse of more than one year from the effective date of the  certificate.

    c.  A provision which restricts or reduces benefits payable in the event of  death from diseases specified in such certificate where such death occurs more  than two years after the effective date of the certificate.

    d.  Any provision for the payment of an initial membership fee in excess of  three dollars, a registration fee of more than one dollar or a reinstatement  fee of more than one dollar.  No initial membership fee shall be collected from  any member whose previous membership, if any, lapsed less than one year prior  to the date of issue of his new certificate, nor shall a registration fee be  collected more than once from any member.