What is FRIENDLY SOCIETY?

In the United Kingdom, a mutual institution for savings and life INSURANCE that is owned and operated by its members; the organizational structure of the friendly society conveys certain tax advantages to the mutual owners.

More On This Topic



Link to This Definition
Did you find this definition of FRIENDLY SOCIETY helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary