P.R. Laws tit. 26, § 3601
2019-02-20 00:00:00+00
Any incorporated society, order or supreme lodge, without capital stock, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and which makes provision for the payment of benefits in accordance with this chapter, is hereby declared to be a fraternal benefit society. When used in this chapter the word “society”, unless otherwise indicated, shall mean fraternal benefit society.
History —Ins. Code, added as § 36.010 on June 13, 1964, No. 55, p. 122.