friendly society

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friendly society

a business organization which is owned by its members. Friendly societies were the forerunners of many modern Insurance Companies and BUILDING SOCIETIES. See REGISTRAR OF FRIENDLY SOCIETIES, BUILDING SOCIETIES ACT, 1986.

friendly society

an association of individuals (members) who make regular voluntary contributions into a fund upon which they can draw in times of need or to provide themselves with houses. Friendly societies were the forerunners of the modern INSURANCE SOCIETIES and BUILDING SOCIETIES. See REGISTRAR OF FRIENDLY SOCIETIES, BUILDING SOCIETIES ACT 1986.
References in periodicals archive ?
The business community is regarded as playing a lead role in developing innovations that will benefit society.
In order to fix this inequity that affects all New Yorkers who hold fraternal benefit Society policies, this bill amends the investment authority for fraternal benefit societies to parallel life insurance companies' investment rights," Weprin said.
Company Type: Fraternal benefit society, which is a not-for-profit membership organization that offers life insurance and other financial products to its members.
Others see a more government-managed social and economic arrangement as the best way to benefit society.
Sir, - You published a letter from Mr R W Farrington, the Chief Executive of the Ideal Benefit Society, about the proposed re-development of the Pitmaston site in Moseley, which backs on to houses in Goodby Road (Post, June 2).
It was visionary, bold, and something that would benefit society, ARMA, and its members.
Stephen Taylor, president and chief executive officer of the Lutheran fraternal benefit society, presented the cheque at a luncheon of Lutheran Life's board of directors, church representatives and local dignitaries, July 26th in Halifax.
The center works with government agencies, communities and educational institutions to help them utilize high-performance computing and new technologies in ways that benefit society.
Mike Rush, chief executive of the UK Civil Service Benefit Society, said: ``Workers are increasingly turning towards the private sector as the traditional safety net of the state pension recedes.
We are a non for profit organization looking for what you are predicting: the awakening of the private sector to benefit society.
Almost without exception, fraternal organizations strove to enforce what in later years would derisively come to be known (mainly by those who grew up in the security of them) as "middle-class values" Virtues like honesty and thrift are desirable for their own sake, of course, but become crucial in a mutual benefit society like a fraternal organization, which depends on member restraint in not abusing the commons.