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

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Identifikator:: 875232663

URN:: urn:nbn:de:zbw-retromon-2698

Document type:: Monograph

Title:: 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

Place of publication:: with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index$gTenth edition, revised and enlarged

Publisher:: Shaw and Sons

Year of publication:: 1881

Scope:: 1 Online-Ressource (XII, 303 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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32 INTRODUCTION. 4. Priority of claim on the death, bankruptcy, or insolvency of an officer. 5. Power to admit minors above 16 as mem bers. 6. Power to subscribe to hospitals or charitable or provident institutions for securing benefit to members, and (except as before stated) the right to pay a sum not exceeding £50 on the death of a member, to his nominee, without administration. 58. Every registered society may invest its funds in a post office or trustee savings bank, or in the public funds, or with the National Debt Commis sioners, or in the purchase of land, or in any other security (not personal) expressly directed by its rules. Its property vests in its trustees, and on death, resignation, or removal of a trustee, vests in his successor without conveyance or assignment, except in the case of the public funds. The lord of the manor of copyhold property to which the society is entitled must admit its trustees as tenants on payment of a single fine. A society may discharge mortgages by a mere receipt, in statutory form (a), endorsed on the deed, and if the mortgage is registei’ed a certificate of satisfac tion from the Registrar of deeds, &c., maybe obtained for 2s. 6cl. Fraud upon a society may be summarily punished; and its trustees are pro tected from personal liability. (a) The Society may, by rule, provide an alternative form ; but it would seem to be hardly wise to do so.

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