Maine's Governor John Baldacci has signed LD 157, "An Act To Enhance Oversight of Fraternal Benefit Societies," which gives the state's Superintendent of Insurance authority over fraternal benefit societies such as the Freemasons or the Oddfellows. Those organizations often provide insurance benefits to their members.
“This legislation brings regulatory standards for fraternal benefit societies into line with other institutions that offer insurance coverage to customers,” Governor Baldacci said. “Maine has strong consumer protections and this Act brings products from fraternals under that same umbrella.”
This law wil....