Common Contracts
1 similar Benefit Contract contracts
ContractBenefit Contract • May 5th, 2020
(215 ILCS 5/285.1) (from Ch. 73, par. 897.1) (Section scheduled to be repealed on January 1, 2027) Sec. 285.1. Definitions. Whenever used in this amendatory Act: (a) "Benefit contract" shall mean the agreement for provision of benefits authorized by Section 297.1 of this amendatory Act as that agreement is described in Section 300.1 of this amendatory Act; (b) "Benefit member" shall mean an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract; (c) "Certificate" shall mean the document issued as written evidence of the benefit contract; (d) "Premiums" shall mean premiums, rates, dues or other required contributions, by whatever name known, which are payable under the certificate; (e) "Laws" shall mean the society's articles of incorporation, constitution and bylaws, however designated; (f) "Life insurer" shall mean an insurance company authorized to transact in this State the insurance business classified as Class 1, Clause (
