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40-738. Definitions.

40-738

Chapter 40.--INSURANCE
Article 7.--FRATERNAL BENEFIT SOCIETIES

      40-738.   Definitions.Any incorporated society, order or supremelodge, without capital stock, conducted solely for the benefit of itsmembers and their beneficiaries and not for profit, operated on a lodgesystem with ritualistic form of work, having a representative form ofgovernment, and which provides benefits in accordance with this act, ishereby declared to be a fraternal benefit society.

      History:   L. 1988, ch. 154, § 1; Jan. 1, 1989.

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