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

83 33 & 39 Vict. Cap. 60, ss. 19, 20. •contributions or deposits of its members, make loans to its members on their personal security, with, or without sure ties, as may be provided by the rules, subject to the fol lowing restrictions :— (a.) No loan can at any time be made out of moneys contributed for the other purposes of the society: (b.) No member shall be capable of holding any interest in the loan fund exceeding two hundred pounds: (c.) No society shall make any loan to a member on personal security beyond the amount fixed by the rules, or shall make any loan which, together with any moneys for the time being owing by a member to the society, shall exceed fifty pounds : (d.) No society shall hold at any one time on deposit from its members any moneys beyond the amount fixed by the rules, which shall not exceed two thirds of the total sums for the time being owing to the society by the members who have borrowed from the loan fund (c). 19. Accumulating surplus of contributions for members use. —The rules of a society [or branch] may provide for accu mulating at interest, for the use of any member of the same, any surplus of his contributions to the funds of the society [or branch] which may remain after providing for any assurance in respect of which the same are paid, and for the withdrawal of such accumulations from time to time (d). 20. Officers in receipt or charge of money.—With respect to officers of registered societies [or branches] having receipt or charge of money, the following provisions shall have effect:— (1.) Security to be given.—Every officer, if the rules of the society [or branch] require, shall, before taking upon him- («) This provision is new. (d) This was formerly permitted by authority of the Secretary of State under 18 & 19 Vict. c. 63, s. 9 (3). The authority was granted to meet the case of the Deposit Friendly Societies, established by the late Hon. and Kev. S. Best.

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