(3.) Property of society, how vested.—All property belong 
ing to a society, whether acquired before or after the same 
is registered, shall vest in the trustees for the time being 
•of the society, for the use and benefit of the society and 
the members thereof, and of all persons claiming through 
the members according to the rules of the society ; and 
the property of any branch of a society shall vest in the 
trustees of such branch, or in the trustees of the society if 
the rules of the society so provide, for the use and benefit 
either of the members of such branch and persons claiming 
through such members, or of the members of the society 
generally, and persons claiming through them according to 
the rules of the society (c). 
(4.) Devolution on death, &c.—Upon the death, resigna 
tion, or removal of a trustee, whether of a society or branch, 
the property vested in such trustee vests in the succeeding 
trustees of such society or branch, either solely or together 
with any surviving or continuing trustees, and until the 
appointment of succeeding trustees in such surviving or 
continuing trustees only, or in the executors or adminis 
trators of the last surviving or continuing trustee, as per 
sonal estate (whether the same be real or personal), subject 
to the same trusts, without conveyance or assignment, ex 
cept that stocks and securities in the public funds of Great 
Britain and Ireland shall be transferred into the names of 
the succeeding trustees, either solely or jointly with any 
surviving or continuing trustees (c). 
(5.) In all legal proceedings whatsoever concerning any 
such property, the same shall be stated to be the property 
of the trustees for the time being in their proper names as 
trustees for the society or branch (as the case may be) with 
out further description (c). 
(6.) 4s to copyholds.—Where a society for branch] is en 
titled in equity to any hereditaments of copyhold or cus 
tomary tenure, either absolutely or by way of mortgage or 
security, the lord of the manor of which the same are held 
(<-) These clauses are a re-enactment of 18 & 19 Viet. c. 63, 
.s. 18, with amendments. The provision for resignation of a 
trustee is new.