Mass. Gen. Laws ch. 176P § 13
A society may create, maintain, invest, disburse and apply a death fund, any part of which may, in accordance with the by-laws of a society, be designated and set apart as an emergency, a surplus or other similar fund, and a disability fund and a hospitalization and medical service fund. Such funds shall be held, invested and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire individual rights therein, or become entitled to any part thereof, except as provided in section 16, 17, or 19. The funds from which benefits shall be paid shall be derived and the fund from which the expenses of the society shall be defrayed may be derived from periodical or other payments by the members of the society and accretions of such funds. No society shall be incorporated, and no society not authorized on January 1, 1912 to do business in the commonwealth, shall be admitted to transact business therein, which does not provide for stated periodical contributions sufficient to meet the mortuary obligations contracted, when valued upon the basis of the National Fraternal Congress Table of Mortality as adopted by the National Fraternal Congress on August 23, 1899, or any higher standard, with interest assumption not more than 4 per cent per annum, except societies providing benefits for disability or death from accidents only.
Mass. Gen. Laws ch. 176P, § 13