Terms Used In Iowa Code 512B.10

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
512B.10 Waiver.
The laws of the society may provide that a subordinate body, or any of its subordinate
officers or members, do not have the power or authority to waive any of the provisions of the laws of the society. A waiver prohibition provision is binding on the society and every member and beneficiary of a member.
90 Acts, ch 1148, §10