Florida Statutes, Rules, and Regulations Common to All Lines
For whose benefit must a Florida fraternal benefit society be conducted?
Answer and explanation
Answer: B. Section 632.601 requires the society to be conducted solely for the benefit of its members and their beneficiaries and not for profit. Having no capital stock, it has no shareholders. The definition does not extend the purpose to the general public, and it does not contemplate surplus being directed to officers.Source: Fla. Stat. § 632.601 — 632.601, Not for profit
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