152

A  Study  of  Student  Loans  and

5
The  contributions  to  be  paid  at  once  as  well  as  the  first  annual  payment  have
to  be  paid  within  a  quarter  of  a  year  after  the  subscription.  In  case  of  very  large
amounts,  the  Executive  Committee  can  permit  payments  in  installments.  The
annual  amounts  have  to  be  paid  not  later  than  March  31  st,  the  payments  to  be
made  at  the  place  indicated  by  the  Executive  Committee.

6
Membership  ends  through  the  death  of  an  individual,  or  witli  legal  entities,
upon  dissolution,  or:
a.  Through  the  written  application  to  the  President  which  can  be  made  out
only  to  the  end  of  the  business  year.
b.  When,  in  spite  of  reminders,  the  payment  of  dues  does  not  follow  within
six  weeks.  The  Executive  Committee  can  extend  this  term  in  separate  cases.
The  exclusion  from  membership  can  be  decided  upon  by  a  three-quarters  majority
vote  of  the  managing  board.  The  investigation  in  a  legal  way  of  the  grounds  for
exclusion  is  not  permissible.

7
The  funds  of  the  Association  are  to  be  formed  of:
a.  The  contributions  of  the  members  and  of  donations.
b.  The  payments  each  session  of  the  students  in  German  universities  and
in  the  Technological  Institute  of  Danzig.
c.  The  interest  on  a.  and  b.
The  fund  that  is  formed  by  the  contributions  of  the  members  and  of  donations ­
  is  to  be  distributed  in  loans  in  such  a  way  as  to  keep  this  part  intact.  The
payments  of  the  students  go  to  form  an  insurance  fund  out  of  which  losses
through  non-payment  of  loans  are  to  be  covered.  The  interest  goes  to  pay  first  the
expenses  of  the  business  management  and  the  remainder  will  be  divided  into  two
equal  parts:  the  first  to  be  added  to  the  insurance  fund,  the  other  to  the  Economic
Help  of  the  German  Student  Body  as  the  main  agent  of  the  economic  activity  of
the  German  students.

8
The  management  of  the  funds  is  to  be  centralized.  The  granting  of  loans
and  their  payment  to  individual  students  is  to  be  local.  For  this  purpose  in  every
university  a  branch  will  be  organized  with  the  title  “The  Loan  Association  of  the
German  Student  Body,  Branch  ”  As  a  rule  the  faculty,  the  Student  body
of  the  respective  university,  and  practical  business  men  (among  those  of  the  latter
group  there  should  be  if  possible  a  banking  specialist),  will  take  part  in  the  management ­
  of  the  branch.  In  those  universities  where  there  is  already  a  definite
economic  association  of  students,  it  ought  to  send  in  an  application  for  the  establishment
  of  a  branch.  This  application  should  be  approved  by  both  the  Student
body  and  by  the  university  officers.