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APPENDIX I.

ABSTRACT OF RULES

FOR A

PERMANENT BUILDING SOCIETY.

CONSTITUTION OF THE SOCIETY.

I. Name of Society, how established, and place of business

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185

II. Objects are to raise a fund for making advances to members, and, generally, for the purposes allowed by the Act

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III. Monthly Subscription Meetings, when to be held,
and (2) at what hour

IV. Annual Meetings, when to be held; 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
Meeting
VI. Special General Meetings, when to be summoned ;
and how; (2) expenses thereof; (3) circulars to
state objects of meeting; (4) Secretary neglecting

to summon to be fined; (5) what business may be
transacted thereat

VII. Adjournment of Meetings

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VIII. Notices to members how to be served; (2) when
meeting void on account of defect in notice
IX. Votes at Meetings, how to be taken; who entitled to
vote

X. Arbitrators to settle disputes; (2) their appointment
and selection in cases of dispute; (3) arbitrators
dying, resigning, or refusing or unable to act, to
be replaced

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187

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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

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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

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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

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XVII. Qualifications of Members; (2) refusal to admit
or continue a member; (3) forfeited shares
XVIII. Register of Members; notices by circular; (2)
register of shares

XIX. Members may inspect books; and have copies of

their accounts

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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

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XXI. Bankruptcy of a Member; effect on shares
XXII. Lunacy of a Member; (2) what to be done in
cases where no guardian appointed; (3) what,
where an advance has been made to afflicted
member

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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

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XXVII. Discount on payments in advance
XXVIII. Transfer of Unadvanced Shares, how to be
made

XXIX. Withdrawal of Unadvanced Shares; notice
thereof; (2) priority of previous applications for an

advance over notice of withdrawal; (3) where inte-
rest has been allowed on payments in advance,
proportionate part to be deducted; (4) part of a
share may be withdrawn; (5) fees on withdrawal ;
(6) shares to be paid out in rotation, or propor-
tionately to subscriptions paid in; withdrawn
shares chargeable with due proportion of excess of
losses or expenses; (7) preference of representa-
tives of deceased or insane members; (8) next to
them of realized shareholders; (9) scale for pay-
ment of shares, and withdrawal tables; (10) fees
and fines due to be deducted from amount payable;
(11) general power of directors to regulate with-
drawals

XXX. Surplus Funds, directors may invest, or, cause
members to take same; (2) in case of members
not attending to receive compulsorily withdrawn
shares, no further interest to be allowed; (3) ballot
for compulsory withdrawals

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

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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

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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
may discharge portion of the premises from the
security
XL. Member may transfer his right to an advance; fees
payable thereon; (2) if member be desirous to sell
property mortgaged, purchaser must stand in his
place; (3) expense of conveyance.

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XLI. Member may substitute other property for the mort-
gaged property
XLII. All mortgaged property to be insured in the names
of the society; fines in case of neglect; (2) in
case of damage by fire what receipt to be sufficient
discharge to the insurance office
XLIII. Where property subject to ground rents, or other
payments, member to furnish particulars of, and to
produce receipts for, same; fines in default.

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OTHER REGULATIONS AS TO SHARES.

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213

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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

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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

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LI. Surveyor; (2) his fees: (3) and remuneration
LII. Solicitor; (2) his business; disputes as to his
charges how to be settled; (3) to inspect securities

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LIII. Agents, appointment of
LIV. Bankers; who to sign cheques; (2) money received
from members to be paid to them; (3) current
expenses of society; (4) to have custody of securi-

ties

LV. Secretary; (2) his duties; and fines for neglect of
LVI. Appointment of Auditors; (2) of consulting actuary
LVII. Trustees
LVIII. Remuneration of Officers, over and above their

salaries

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LIX. Officers to be indemnified against all losses, unless
arising through their own neglect
Consulting actuary's certificate

SCHEDULE OF FORMS.

A. Of application for admission as a member
B. Of transfer of shares .

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C. Of application for an advance
D. Giving particulars of property to be purchased

[Forms of conveyance, if to be in Rules].

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