§ 4461 - Fraternal benefit societies defined - Vermont Statutes

§ 4461. Fraternal benefit societies defined

(a) Any incorporated society, order or supreme lodge, without capital stock, including one exempted under the provisions of subdivision 4502(a)(2) of this title, whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and which makes provision for the payment of benefits in accordance with this chapter, is hereby declared to be a fraternal benefit society.

(b) When used in this chapter the word "society," unless the context clearly indicates the contrary, refers to a fraternal benefit society. (1959, No. 197, § 1, eff. Nov. 22, 1959.)