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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Monograph

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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Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Registered friendly societies

Collection:: Economics Books

82 38 & 39 Vict. Cap. 60, s. 18. penny per centum per diem, sliall retain at such rates so much only of its funds as arises from assur ances made before the fifteenth day of August, one thousand eight hundred and fifty, after deducting all benefit payments and management expenses incurred on account of such assurances ; and whenever the society fails to satisfy the commissioners of its title to retain at either such rate the whole or any part of its funds, the commissioners shall require the with drawal of such funds or the transfer of the same to the rate of twopence per centum per diem, and, in default of withdrawal within thirty days, shall transfer the same in their hooks accordingly, and shall notify such transfer to the society. 11. Whenever it shall appear to the commissioners that all the members of a society assured before the fifteenth day of August, one thousand eight hundred and fifty have died or ceased to be members, the commissioners shall forthwith transfer in their books to the rate of twopence per centum per diem, all funds of the society remaining invested at any higher rate, and shall notify the same to the society (a). 18. Loans to members.—With respect to loans to members of registered societies, the following provisions shall have effect:— (1.) Not more than one half of the amount of an assur ance on the life of a member of at least one full year’s standing may be advanced to him, on the written security of himself and two satisfactory sureties for repayment ; and the amount advanced, with all interest thereon, may be deducted from the sum assured, without prejudice in the meantime to the operation of such security (b). (2.) Loans may be made out of separate loan fund.—A society may, out of any separate loan fund to be formed by (a) Sub-sects. 10 and 11 are new. They are applied to a society after its conversion into a branch by sect. 6 of the Act of 1876. (S) This provision was contained in 18 & 19 Vict. c. 63, s. 32.

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