Operation for benefit of members and beneficiaries
Applied in 1 court decision — leading case Whitelick Indiana Aerie 3702 Fraternal Order of Eagles, Inc. v. Hendricks County Property Tax Assessment Board of Appeals (2017)
Most recently applied in Whitelick Indiana Aerie 3702 Fraternal Order of Eagles, Inc. v. Hendricks County Property Tax Assessment Board of Appeals (September 2017)
As added by P.L.262-1985, SEC.1.
Sec. 3. A society shall operate for the benefit of members and their beneficiaries by:
(1) providing benefits as specified in IC 27-11-6-1; and
(2) operating for one (1) or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purposes for the benefit of its members that may also be extended to others. These purposes may be carried out directly by the society, or indirectly through subsidiary corporations or affiliated organizations.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.