SECTION 1. Subject to the approval of the board of directors of the New Bedford Police Association, a corporation duly established by law, and notwithstanding any general or special law to the contrary, said association may pay: 

(i) to any beneficiaries named by a member of the association in good standing, a sum of $12,000,  upon the death of such member, if the deceased was an active member of the New Bedford police department at the time of death;

(ii) to a member of the association in good standing, upon such person’s resignation or retirement from the New Bedford police department, if such person has been pensioned from said department due to an injury or disability, a sum equal to the greater of: (A) $150 for each year of membership in the association, not to exceed 20 years; or (B) $1,000;

(iii) a sum equal to $1,000 or $150 for each year of membership in the association, not to exceed 20 years, to a member upon such person’s resignation or retirement from the New Bedford police department, if such person was a member of the association in good standing and a member of the association for not less than 10 years; and

(iv) a sum of  $6,000, less the sum of money paid pursuant to clauses (ii) or (iii), to any  beneficiaries named by a member of the association, upon such member’s death, if such person was a member of the association in good standing and a retired member of the New Bedford police department.

SECTION 2.  Chapter 401 of the acts of 1900 and chapter 500 of the acts of 1986 are hereby repealed.