1998 Minnesota Statutes

     64B.05 Purposes and powers. 

    Subdivision 1.    Purposes.  A society shall operate for 
 the benefit of members and their beneficiaries by: 

    (1) providing benefits as specified in section 64B.16; and 

    (2) operating for one or more social, intellectual, 
 educational, charitable, benevolent, moral, fraternal, 
 patriotic, or religious purposes for the benefit of its members, 
 which may also be extended to others. 

    The purposes provided for in this subdivision may be 
 carried out directly by the society, or indirectly through 
 subsidiary corporations or affiliated organizations which are to 
 be operated primarily for member service.  The subsidiaries 
 authorized under section 64B.12 are to be operated primarily for 
 investment purposes. 

    Subd. 2.    Adoption of laws and rules.  Every society 
 may adopt laws and rules for the government of the society, the 
 admission of its members, and the management of its affairs.  It 
 may change, alter, add to, or amend such laws and rules and 
 shall have such other powers as are necessary and incidental to 
 carrying into effect the objects and purposes of the society. 

    HIST: 1985 c 49 s 5; 1Sp1986 c 3 art 1 s 9