Definition: Mutual society

Category: Business registers

A social economy enterprise characterized by:

- Voluntary and open membership
- Equal voting rights – resolutions carried by majority
- Members’ fees based on insurance calculations (where relevant) – no capital contributions
- autonomy and independence
- Medical, life and non-life insurance; guarantee schemes; home mortgages. http://ec.europa.eu/eurostat/ramon/statmanuals/files/KS-32-10-216-EN-C-EN.pdf