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CI364 880/$554525.00 STATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE FINANCIAL AFFAIRS SECTION / ANALYTICAL UNIT 0576 500 James Robertson Parkway 4th Floor Nashville, Tennessee 37243 (615)
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What is fraternal benefit society?
A fraternal benefit society is a type of organization that provides insurance and other benefits to its members, who typically share a common bond such as belonging to a certain profession, religion, or ethnicity.
Who is required to file fraternal benefit society?
Fraternal benefit societies are required to file with the appropriate regulatory authorities, such as state insurance departments, to ensure compliance with regulations and to be able to offer insurance and other benefits to their members.
How to fill out fraternal benefit society?
Filling out the forms for a fraternal benefit society typically involves providing information about the organization's structure, membership, financials, and insurance offerings. These forms can usually be obtained from the regulatory authority overseeing fraternal benefit societies in the relevant jurisdiction.
What is the purpose of fraternal benefit society?
The purpose of a fraternal benefit society is to provide insurance and other benefits to its members, often at more affordable rates compared to commercial insurers, while fostering a sense of community and shared values among the members.
What information must be reported on fraternal benefit society?
Fraternal benefit societies are typically required to report information such as financial statements, membership data, details of insurance products offered, claims history, and compliance with relevant regulations. The exact reporting requirements may vary depending on the jurisdiction and regulatory authority.
When is the deadline to file fraternal benefit society in 2023?
The specific deadline for filing a fraternal benefit society in 2023 would depend on the regulations of the jurisdiction in which the society operates. It is recommended to consult the applicable regulatory authority or legal counsel for the accurate deadline.
What is the penalty for the late filing of fraternal benefit society?
Penalties for late filing of fraternal benefit society can vary depending on the jurisdiction and the specific circumstances. They may include fines, loss of certain privileges, or other regulatory enforcement actions. It is important to comply with filing deadlines to avoid potential penalties.
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