Mass. Gen. Laws ch. 176P § 16
A society which shows by the annual valuation hereinafter provided for that it is accumulating and maintaining the tabular reserve required by a table of mortality not lower than the National Fraternal Congress Table of Mortality as adopted by the National Fraternal Congress on August 23, 1899, and 4 per cent interest, and which has provided for state periodical mortuary contributions based on said standard, or which shows that its stated periodical mortuary contributions for the five preceding years at rates at no time higher than those in use following said period, were sufficient to pay the actual claims and maintain the aforesaid reserve for said period without recourse to the reserves released by the lapsing of certificates, and without falling below said standard for any two consecutive years of said period, may grant to its members such extended or paid-up protection or such loans on any certificate of membership or such withdrawal equities as its constitution and by-laws may provide. Such grants shall be equitable, and shall in no case exceed in value the portion of the reserve derived from the payments of the individual member to whom they are made.
Mass. Gen. Laws ch. 176P, § 16