Organizations that constitute "fraternal benefit societies."

Any incorporated society, order or supreme lodge, without capital stock, including one exempted under § 56-25-704(a)(2) , whether incorporated or not, 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 that provides benefits in accordance with this chapter, is declared to be a "fraternal benefit society." Acts 1990, ch. 703, § 1. Any incorporated society, order or supreme lodge, without capital stock, including one exempted under § 56-25-704(a)(2) , whether incorporated or not, 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 that provides benefits in accordance with this chapter, is declared to be a "fraternal benefit society." Acts 1990, ch. 703, § 1.