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.