22 
INTRODUCTION. 
37. The provisions restraining transfer of mem 
bers apply not merely to registered societies but 
to unregistered societies; and all the provisions 
of which an abstract is given in the last article 
(except those as to delivering of rules, policy, and 
balance-sheet) apply not merely to Friendly So 
cieties, but to industrial Assurance Companies. 
38. Societies having a custom of periodical divi 
sion of funds could not have rules for that purpose 
certified under 18 & 19 Yict. c. 63, but it is now 
provided that a society (other than a benevolent 
society or working men’s club) shall not he dis 
entitled to registry by reason of any such rule if 
the rules contain distinct provision for meeting all 
claims upon the society existing at the time of 
division before any such division takes place (a). 
39. Societies having deposit funds (heretofore 
legalized by an authority of the Secretary of 
State), may provide by their rules for accumu 
lating at interest, for the use of any member, any 
surplus of his contributions to the funds •which 
may remain after providing for his assurance, and 
for the withdrawal of such accumulations. 
(a) The dividing societies liave the advantage of being 
able to obtain from their members a higher contribution, 
the prospect of having a portion returned at the end of the 
year serving as an inducement to the members to pay, and 
in many parts of England and in Ireland such societies are 
exceedingly popular. An Irish witness said to the Assistant 
Commissioner:—“ We should soon die out if we had no 
divide. A man who has once been a member of a society 
which divides every year will never be content in any other 
society.” The mischief, however, is that the society which 
divides its funds is almost certain to fail to help its members 
when they all get old together, and its help is most needed.