(a) A society shall operate for the benefit of members and their beneficiaries by (1) providing benefits as specified in Alaska Stat. § 21.84.201, and (2) operating for a social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purpose for the benefit of its members, which benefits may also be extended to others. A purpose may be carried out directly by the society or indirectly through subsidiary corporations or affiliated organizations.
Ask a business law question, get an answer ASAP! Thousands of highly rated, verified business lawyers. Click here to chat with a lawyer about your rights.
(b) A society may adopt and amend laws and rules for the government of the society, the admission of its members, and the management of its affairs and may have other powers necessary to carrying into effect the objects and purposes of the society.
