58-37A-5. Benefits and purposes of society--Power to adopt laws and rules for governing the society. A society shall operate for the benefit of members and their beneficiaries by providing benefits as specified in § 58-37A-16, and operating for one or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purposes for the benefit of its members, which may also be extended to others. These purposes may be carried out directly by the society, or indirectly through subsidiary corporations or affiliated organizations. These subsidiaries or affiliated organizations shall comply with all other applicable provisions of the laws and are also subject to the requirements of chapter 58-5A.
Every society may adopt laws and rules for the government of the society, the admission of its members, and the management of its affairs. It may change, alter, add to, or amend the laws and rules and has any other powers that are necessary and incidental to carrying into effect the objects and purposes of the society.
Source: SL 1990, ch 410, § 5.
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