The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members shall have the power or authority to waive any of the provisions of the laws of the society.? Such provision shall be binding on the society and every member and beneficiary of a member. (1987, c. 483, s. 2.)

Terms Used In North Carolina General Statutes 58-24-40

  • 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: shall mean the society's articles of incorporation, constitution and bylaws, however designated. See North Carolina General Statutes 58-24-15
  • Society: shall mean fraternal benefit society, unless otherwise indicated. See North Carolina General Statutes 58-24-15
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