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ABSTRACT OF RULES
PERMANENT BUILDING SOCIETY.
CONSTITUTION OF THE SOCIETY.
1. Name of Society, how established, and place of
business 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,
and (2) at what hour IV. Annual Meetings, when to be beld; notice for the
same; and (2) business to be transacted thereat V. Directors' Meetings, when and where to be held ; (2)
what constitutes a quorum ; (3) who may call a
and how ; (2) expenses thereof; (3) circulars to
meeting void on account of defect in notice. IX. Votes at Meetings, how to be taken; who entitled to
and selection in cases of dispute; (3) arbitrators
when and how to be made; (2) construction of rules; (3) questions as to, who to decide
XII. Expenses and Contingencies, members' contribution
thereto; (2) what to be used therefor; (3) when
of profits may be altered XIII. Society how to be dissolved
MEMBERS. XIV. Members, how to be admitted ; (2) to be furnished with a pass-book
ib. XV. Lost Pass-book ; (2) fraudulent production of the
193 XVI. Pass-books to be left for Audit
ib. XVII. Qualifications of Members ; (2) refusal to admit or continue a member; (3) forfeited shares
ib. XVIII. Register of Members ; notices by circular; (2) register of shares
194 XIX. Members may inspect books; and have copies of their accounts
ib. xx. Marriage of Female Members ; 'shares may be
entered in their own names, or transferred to their
ib. XXI. Bankruptcy of a Member; effect on shares
195 XXII. Lunacy of a Member ; (2) what to be done in
cases where no guardian appointed; (3) what,
ib. XXIII. Death of a Member; his shares to be transferred;
(2) if more than one transferee who entitled to
SHARES AND SUBSCRIPTIONS.
scription shares; (c) deposit shares; (d) pre
ferential shares; entrance fees
to the bankers
ib. 198 ib.
thereof; (2) priority of previous applications for an
advance over notice of withdrawal; (3) where inte-
members to take same; (2) in case of members
inium ; (3) terms for advances; (4) who eligible
his unadvanced shares, or cancel the same
mortgage expenses may be repaid in instalments XXXIII. Commission (if any be charged) to be appro
priated to Expenses and Contingencies; exemp-
commission may be returned
to members ; (2) so also may advances for the pur-
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
ment subscriptions, when to be paid ; (3) advanced
endorsed by directors
in mortgage deed; in case of compulsory sale dis
count to be allowed; bankruptcy of mortgagor XXXVII. Redemption of Mortgaged Property ; notice
to be given; amount payable, how to be calculated;
GENERAL REGULATIONS AS TO THE SECURITIES. XXXVIII. Power to Directors to extend period of Repay
ment for advanced members; notice to be given;
211 XXXIX. On reduction of the Mortgage Debt, Directors
may discharge portion of the premises from the
ib. XL. Member may transfer his right to an advance ; fees
payable thereon ; (2) if member be desirous to sell
212 XLI. Ñember may substitute other property for the mortgaged property
ib. XLII. All mortgaged property to be insured in the names
of the society ; fines in case of neglect; (2) in
213 XLIII. Where property subject to ground rents, or other
payments, member to furnish particulars of, and to
OTHER REGULATIONS AS TO SHARES.
shares ; (3) when equal to subscriptions paid, shares
altered; corresponding alteration for advanced
215 MANAGEMENT AND OFFICERS.
216 217 ib.
XLVI. What Officers to be appointed; their remunera.
tion, and tenure of office
acknowledgments for deposits or loans .
future election of; (3) bankruptcy or resignation
charges how to be settled; (3) to inspect securities LIII. Agents, appointment of LIV. Bankers ; who to sign cheques ; (2) money
arising through their own neglect
ib. ib. 220
SCHEDULE OF FORMS.
[Forms of conveyance, if to be in Rules].
222 ib. ib. 223