Simple English definitions for legal terms
Read a random definition: first-degree principal
A beneficial association is a group of people who come together for a common purpose, such as to do good deeds or help others. It is not a separate legal entity, but rather a group of individuals who work together. Examples of beneficial associations include charities, fraternal societies, and homeowners' associations. These groups are formed to improve the quality of life for their members and the community as a whole.
A beneficial association is a type of unincorporated, nonprofit organization that has a philanthropic or charitable purpose. It is also known as a benevolent association or a benefit association. These associations are formed by people who want to work together to help others or improve their community.
Examples of beneficial associations include fraternal societies, friendly societies, and homeowners' associations. Fraternal societies are groups of people who share a common interest or purpose, such as a religious or cultural affiliation. Friendly societies are similar to fraternal societies, but they focus more on providing financial assistance to members in need. Homeowners' associations are groups of people who own homes in a particular area and work together to maintain and improve the quality of their community.
These examples illustrate the definition of a beneficial association because they are all formed by people who want to work together for a common purpose. They are not organized to generate income or profit, but rather to provide a benefit to their members or the community. Beneficial associations are often regulated by statute in many states to ensure that they operate in a fair and transparent manner.