§ 4527. Optional authority and regulation. (a) An authorized fraternal
benefit society subject to this article and meeting the requirements of
this section may obligate itself for the payment of the following
benefits in addition to those authorized in section four thousand five
hundred five of this article;

(1) Long term care benefits as defined in subsection (q) of section
four thousand five hundred one of this article.

(2) Variable life insurance benefits and variable annuity benefits
issued pursuant to separate accounts that are approved by the
superintendent and established in compliance with section four thousand
two hundred forty of this chapter, except that item (vi) of subsection
(a) of section four thousand two hundred forty of this chapter shall not
apply to accounts established under this section.

(3) Annuity benefits as defined in subsection (l) of section four
thousand five hundred one of this chapter in amounts exceeding fifteen
thousand dollars annually.

(4) Disability income insurance benefits as defined in subsection (p)
of section four thousand five hundred one of this article in amounts
exceeding one thousand two hundred fifty dollars a month.

(b) In addition to other requirements of this article, an authorized
fraternal benefit society obligating itself for the payment of benefits
described in this section shall, notwithstanding section four thousand
five hundred twenty-five of this article or subsection (g) of section
two thousand one hundred three and subsection (b) of section two
thousand one hundred thirty-two of this chapter, only retain as agents
persons who are licensed pursuant to section two thousand one hundred
three of this chapter and who:

(1) take the personal written examination required by subsection (f)
of section two thousand one hundred three of this chapter if seeking the
original issuance of a license under section two thousand one hundred
three of this chapter on or after January first, nineteen hundred
ninety-seven; and

(2) comply with the provisions of section two thousand one hundred
thirty-two of this chapter regarding agents continuing education for the
biennial licensing period beginning on or after January first, nineteen
hundred ninety-eight.