Full text: The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

254 
MODEL BRANCH RULES. 
3. It shall be the duty of the committee of management 
to provide the secretary with a sufficient number of copies 
of the annual return, or of some balance sheet or other 
document duly audited, containing the same particulars as 
to the receipts and expenditure, funds and effects of the 
branch, for supplying gratuitously every member or person 
interested in the funds of the branch, on his application, 
with a copy of the last annual return, or of such balance 
sheet or other document as aforesaid for the time being, 
and it shall be the duty of the secretary to supply such 
gratuitous copies on application accordingly. 
XIV.—Investment of Funds, Holding of Land, &c. 
1. So much of the funds of the branch as may not be 
wanted for immediate use, or to meet the usual accruing 
liabilities, shall, with the consent of the committee of 
management, or of a majority of the members of the branch 
present and entitled to vote at a general meeting, be 
invested by the trustees in such of the following ways as 
such committee or general meeting shall direct : namely, 
in any savings bank certified under the Act of 1863, or 
Post Office Savings Bank, in the public funds, or with 
the Commissioners for the Reduction of the National Debt, 
or upon government or real securities in Great Britain or 
Ireland, (a) 
or in the purchase of land, or in the erection or alteration 
of offices or other buildings thereon as after mentioned.— 
Friendly Societies Act, 1875, s. 16 (1). 
2. The committee of management, with the consent of a 
special meeting of the branch called for the purpose, may 
purchase or take on lease in the names of the trustees any 
land in the county where the branch is established (b), anil 
may sell, exchange, mortgage, lease or build upon the same 
(with power to alter and pull down buildings and again 
rebuild), and no purchaser, assignee, mortgagee, or tenant 
shall be bound to enquire as to the authority for any sale, 
exchange, mortgage, or lease by the trustees, and the 
[(a) Any other securities upon which it is proposed the funds 
should he invested should here be specified.] 
(Jj) If the extent or value of the land is to he limited add here 
“ not exceeding acres” (stating quantity) or “ not exceed 
ing in value l.” (stating value.)
	        
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