Iowa Code 512B.10 – Waiver
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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
- Laws: means the society's articles of incorporation, constitution, and bylaws, however designated. See Iowa Code 512B.2
- Society: means a fraternal benefit society, unless otherwise indicated. See Iowa Code 512B.2
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.