Friendly Society
/ˈfrɛndli səˌsaɪəti/
Definitions
- (n.) A mutual aid organization formed by individuals for collective financial or social benefits, typically under a regulated legal framework.
The friendly society provided members with insurance coverage and social support during times of illness.
Forms
- friendly society
- friendly societies
Related terms
See also
Commentary
The term often appears in jurisdictions with laws regulating mutual benefit organizations; drafting should clarify the legal status and regulatory framework applicable to ensure proper classification.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.