APPENDIX I. ABSTRACT OF RULES FOR A PERMANENT BUILDING SOCIETY. CONSTITUTION OF THE SOCIETY. I. Name of Society, how established, and place of business PAGE 185 II. Objects are to raise a fund for making advances to members, and, generally, for the purposes allowed by the Act III. Monthly Subscription Meetings, when to be held, IV. Annual Meetings, when to be held; notice for the to summon to be fined; (5) what business may be VII. Adjournment of Meetings VIII. Notices to members how to be served; (2) when X. Arbitrators to settle disputes; (2) their appointment ib. 187 ib. . 188 XI. Alteration, and Rescission of, or Addition to Rules, when and how to be made; (2) construction of rules; (3) questions as to, who to decide ib. 189 ib. XII. Expenses and Contingencies, members' contribution thereto; (2) what to be used therefor; (3) when expenses or losses exceed the amount of funds available for the same; (4) triennial valuation of liabilities and assets to be made; disposal of surplus profit; bonus; (5) when proportions of division of profits may be altered XIII. Society how to be dissolved PAGE 190 192 MEMBERS. XIV. Members, how to be admitted; (2) to be furnished with a pass-book XV. Lost Pass-book; (2) fraudulent production of the same XVI. Pass-books to be left for Audit ib. 193 ib. XVII. Qualifications of Members; (2) refusal to admit XIX. Members may inspect books; and have copies of their accounts XX. Marriage of Female Members; shares may be entered in their own names, or transferred to their husbands; notice to be given to secretary; fines in default thereof XXI. Bankruptcy of a Member; effect on shares 195 ib. XXIII. Death of a Member; his shares to be transferred; (2) if more than one transferee who entitled to vote; (3) payment of money in case of intestacy. 196 SHARES AND SUBSCRIPTIONS. XXIV. Unadvanced Shares; (a) paid up shares; (b) subscription shares; (c) deposit shares; (d) preferential shares; entrance fees XXV. Subscriptions when to be received; to be paid over to the bankers XXVI. Certificate of Shares XXVII. Discount on payments in advance XXIX. Withdrawal of Unadvanced Shares; notice advance over notice of withdrawal; (3) where inte- XXX. Surplus Funds, directors may invest, or, cause ADVANCED SHARES. XXXI. Advances of Money, how to be made; (2) premium; (3) terms for advances; (4) who eligible to apply for; (5) additional entrance fees; (6) member shall pay a deposit to cover fees; (7) shall find security by way of mortgage; shall furnish duplicate particulars of property; (9) second mortgage; (10) member wishing to ascertain probable amount of advance on any proposal security, shall give notice; (11) when an advance is for twelve years or more: (12) member may continue to hold his unadvanced shares, or cancel the same XXXII. Expenses of survey shall be paid by member; mortgage expenses may be repaid in instalments XXXIII. Commission (if any be charged) to be appro priated to Expenses and Contingencies; exemption of borrower from contributing any further sums; (2) directors may allow commission to be treated as an additional advance; (3) unabsorbed commission may be returned XXXIV. Advances to purchase at Auction may be made to members; (2) so also may advances for the purpose of building; (3) in case of non-completion by members, the society may complete and sell XXXV. As to Mortgages. Statements to be made by mortgagor for policy of insurance; fines for neglect thereof; directors to inspect premises; (2) repay PAGE 198 200 201 203 204 205 ment subscriptions, when to be paid; (3) advanced members to be bound by rules; (4) receipt to be endorsed by directors XXXVI. Security for Advances. Powers to be contained in mortgage deed; in case of compulsory sale discount to be allowed; bankruptcy of mortgagor XXXVII. Redemption of Mortgaged Property; notice to be given; amount payable, how to be calculated; redemption fee; receipt PAGE 206 207 210 GENERAL REGULATIONS AS TO THE SECURITIES. XXXVIII. Power to Directors to extend period of Repayment for advanced members; notice to be given; how amount of loan to be calculated; (2) mortgagor shall furnish evidence of the unimpaired value of his security; (3) commission may be charged XXXIX. On reduction of the Mortgage Debt, Directors XLI. Member may substitute other property for the mort- OTHER REGULATIONS AS TO SHARES. 211 ib. 212 ib. 213 ib. XLIV. Fines on unadvanced shares; (2) on advanced shares; (3) when equal to subscriptions paid, shares may be forfeited; (4) directors may allow advance repayments to be deferred; (5) member's payments to be applied first to discharge fines; (6) fines on advance repayments payable quarterly; (7) fees of consulting actuary when to be charged to member XLV. Interest allowed on unadvanced shares may be altered; corresponding alteration for advanced members 214 215 MANAGEMENT AND OFFICERS. XLVI. What Officers to be appointed; their remunera tion, and tenure of office XLVII. Officers to give security XLVIII. Seal, device, custody, and use of XLIX. Power to borrow; whom from; to what extent; acknowledgments for deposits or loans. L. Directors must hold shares; when to retire; (2) future election of; (3) bankruptcy or resignation of; (4) appointment of chairman and deputychairman; (5) one director to attend meetings for receipt of money; in default to be fined; (6) rotas of directors; (7) to inspect books; (8) renumeration LI. Surveyor; (2) his fees: (3) and remuneration LIII. Agents, appointment of ties LV. Secretary; (2) his duties; and fines for neglect of salaries LIX. Officers to be indemnified against all losses, unless SCHEDULE OF FORMS. A. Of application for admission as a member PAGE 216 217 ib. ib. ib. 218 ib. 219 ib. ib. 220 ib. ib. 221 ib. C. Of application for an advance [Forms of conveyance, if to be in Rules]. |