Dkk
10:09
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
friendly society
Read a random definition: going concern
A quick definition of friendly society:
A friendly society is a group of people who come together to help each other out when they are sick or when someone dies. Members pay money into the group and when someone needs help, the group uses that money to give them financial support. This is regulated by the government and is called a benevolent association.
A more thorough explanation:
A friendly society is a voluntary association in Britain that is supported by subscriptions or contributions. The purpose of this association is to provide financial relief to ill members and their families upon death. These societies are regulated by statute.
- One example of a friendly society is the Oddfellows, which was founded in 1810. It provided financial assistance to members and their families during times of need.
- Another example is the Foresters Friendly Society, which was established in 1834. It offered a range of benefits to members, including sick pay and funeral expenses.
These examples illustrate how friendly societies were created to provide financial support to members and their families during difficult times. They were a way for people to come together and help each other out, rather than relying solely on government assistance.