Effective: January 1, 1997
Latest Legislation: House Bill 468 - 121st General Assembly
(A) A fraternal benefit society shall operate for the benefit of its members and their beneficiaries by providing any of the benefits set forth in section 3921.16 of the Revised Code, and by operating for social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purposes for the benefit of its members and any other persons as determined by the society. Such purposes may be carried out either directly by the society or indirectly through subsidiary corporations or affiliated organizations.
(B) A fraternal benefit society may do any of the following:
(1) Adopt laws and rules for the government of the society, the admission of its members, and the management of its affairs;
(2) Amend or otherwise alter its laws and rules;
(3) Take any other action necessary and incidental to carrying out the objectives and purposes of the society.