Section 500.8164 - Definition of fraternal benefit society.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.8164 Definition of fraternal benefit society.
Sec. 8164.
An incorporated society, order, or supreme lodge, without capital stock, including 1 exempted under the provisions of section 8199(1)(b) 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 that provides benefits in accordance with this chapter, is a fraternal benefit society.
History: Add. 1990, Act 1, Eff. Apr. 1, 1990
Popular Name: Act 218