Definition from Nolo’s Plain-English Law Dictionary
Benefits, often group life insurance, fraternal societies provide to their members. The Elks, Masons, or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society, or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:16 pm