2019 Arizona Revised Statutes
Title 20 - Insurance
§ 20-864 Purposes and powers
20-864. Purposes and powers
A. A society shall operate for the benefit of its members and their beneficiaries and shall:
1. Provide benefits pursuant to section 20-875.
2. Operate for social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes. This benefit may also be extended to other persons.
B. The society may carry out its purposes directly or indirectly through subsidiary corporations or affiliated organizations. A subsidiary corporation or affiliated organization shall not transact insurance business or engage in any other activity regulated under this title unless the subsidiary corporation or affiliated organization complies with all of the applicable provisions of law. A society or a subsidiary corporation or affiliated organization through which a society carries out its purposes shall not own or operate a funeral home or undertaking establishment.
C. A society may adopt laws and rules for the government of the society, admission of members and management of society affairs. The society may amend any law or rule and shall have any other powers that are necessary and incidental to carry out the purposes of the society.
