Imagens das páginas

such meeting, without showing sufficient cause to the members then present, he shall be fined He shall enter minutes of all resolutions passed at the meetings of the board in the rough minute book, and the same shall be fairly copied into another, to be read as part of the business of the next meeting, and both to be signed by the chairman. He shall keep the accouuts in order, in proper books to be provided for that purpose, shall send all circulars, conduct the correspondence of the society, and perform such other duties as the directors shall require.


ACTUARY. 1. At the first meeting of the society, two auditors shall be chosen, one by the directors and one by the members present, for the purpose of auditing the accounts, inspecting the mortgages and other securities belonging to the society (a), and watching over the expenses of the society, prior to the annual general meeting. The future appointments of auditors shall be made at the annual general meetings, except in the case of death during the year, when the vacancy shall be filled at the next monthly meeting by the directors and members respectively present.

2. A consulting actuary shall be appointed to whom all questions, as they arise, relating to the value of shares, redemptions of mortgages, and matters of like kind, shali be referred for settlement when the directors think it necessary.

LVII.-TRUSTEES. The directors may from time to time appoint and remove trustees, for the purpose of investments in the public funds, or to be admitted as tenants in respect of copyhold or customary estate, as authorized by 37 & 38 Vict. c. 42, 8s. 25 and 28.

LVIII.—REMUNERATION OF OFFICERS. The members at an annual general meeting may, with the advice of the consulting actuary, vote a sum of money

(a) Sect. 40 of 37 & 38 Vict. s. 42, directs that the mortgage deeds and other securities belonging to the society shall be produced to the auditors (see Digest, Art. 1), and sect. 16 directs that provisions for that purpose shall be made in the Rules.

to be paid to the directors and auditors for their past year's services, and likewise to the other officers of the society, over and above any salaries, fees, or other remuneration, which they may have had guaranteed to them.


The directors, auditors, and other officers of the society shall be, and hereby are indemnified and saved harmless out of its funds and property, from all losses, costs, charges, damages, and expenses, which they may incur or be put to in execution of their respective offices, services, or trusts ; and none of them shall be answerable for any act or default of any other of them, or for the insufficiency or deficiency in title or otherwise of any security whatsoever which shall be taken for the repayment of any advance or otherwise, on behalf of the society, unless the loss arising by any such means shall happen through their own wilful neglect ; nor shall they be liable for any banker, broker, or any person with whom the funds of the society shall, from time to time, be deposited or placed out for safe custody, investment, or otherwise ; nor for any involuntary loss, misfortune, or damage whatsoever, which may happen in the execution of their respective offices, services, or trusts, or in relation thereto, respectively.

CONSULTING ACTUARY'S CERTIFICATE. I hereby certify that the rules and rates of the “ Permanent Building Society" are founded upon equitable and sound principles, and may safely be adopted for its

Consulting Actuary.



(A). To the directors of the Permanent Building Society.

I request to be admitted a member of your society in respect of shares. Dated this

day of





[ocr errors]


Form of Transfer. I, one of the members of the Permanent Build. ing Society in consideration of paid to me by do bereby assign and transfer my share in the said society, numbered

to the said his (or her) executors, administrators, and assigns, subject to the payments, rules, and regulations prescribed by the society. And I, sanctioned by the board of directors, do hereby agree to accept the said share (or shares) subject to the same payments, rules, and regulations. As witness our hands and seals, this


[ocr errors]

day of


To the directors of the Permanent Building Society.

I request that you will make an advance to me of £ in respect of share No. I hold in the Society, the advance to be repaid in

years. Dated this


day of





To the manager of the Permanent Building Society.

Sir,- I send you the following particulars of property which I am desirous of purchasing by auction to be held at the in on the

day and I request that you will take the steps contemplated by article 1 of section XXXIV. of the rules of this society. Dated this

day of



No. of certificate


Description and extent of Property.
Where situate-parish, county, &c. ?
The value per annum ?
By whom held ?
To what use to be applied by applicant ?

[Here may follow forms for conveyance, mortgage, transfer of mortgage, agreement, bond, security for deposit or loan, and other instruments.]

For a terminating building society, rules should be added, fixing the date at which, or specified result on the attainment of which the society is to terminate (37 & 38 Vict. c. 42, s. 35), and it may also be provided that the society may invest money with any other building society (s. 25); and that it may borrow money to the extent of twelve months' subscriptions on the shares for the time being in force (s. 15).





ACT, 1874.

37 & 38 VICT. CAP. 42.

In pursuance of the powers vested in me by the above-
mentioned statute, I, the Right Honorable Richard Assheton
Cross, one of Her Majesty's Principal Secretaries of State,
make the following regulations :
(1). Every application for a certificate of incorporation to

a society in existence on the 2nd November, 1874,
shall be made by a person authorized by a general
meeting of the society, specially called for the
purpose, and shall be in the form (A) subjoined
to these regulations and shall be accompanied by
the following documents.
(a) A copy of the rules of the society as they

exist at the date of the application.
(b) A statutory declaration by the applicant in

the form (D) subjoined to these regula

tions : If the registrar at the time the application is

received by him, has not received from the clerk of the peace for the county in which the society is established a transcript of the certified and enrolled rules of the society, he shall make application to the clerk of the peace for the same, and if the same is not received by him within seven days of such application, shall, as soon as practicable, acquaint the applicant for incorporation therewith, who must furnish evidence that the rules

« AnteriorContinuar »