MODEL RULES. 
241 
savings bank, in the public funds, or with the commissioners 
for the reduction of the national debt, or upon government 
or real securities in Great Britain or Ireland (&) 
or in the purchase of land, or in the erection or alteration 
of offices or other buildings thereon as after mentioned.—- 
Friendly Societies Act, 1875, s. 16 (1). 
2. The committee of management, with the consent of a 
special meeting of the society called for the purpose, may 
purchase or take on lease in the names of the trustees any 
land (c) in the county where the society’s registered office 
is situate [or in any other county where it has an office], and 
may sell, exchange, mortgage, lease, or build upon the same 
(with power to alter and pull down buildings and again 
rebuild), and no purchaser, assignee, mortgagee, or tenant 
shall be bound to inquire as to the authority for any sale, 
exchange, mortgage, or lease by the trustees, and the 
receipt of the trustees shall be a discharge for all moneys 
arising from or in connexion with such sale, exchange, 
mortgage, or lease.—Friendly Societies Act, 1875, s. 16 (2). 
3. Mortgages or other assurances for securing money to 
the society may be vacated by a receipt indorsed, signed by 
the trustees, and countersigned by the secretary, in the form 
contained in the third schedule to the Friendly Societies 
Act, 1875 [or if a special form be provided, in the form herein 
specified, or in the form specified in the schedule to these 
rules],—Friendly Societies Act, 1875, s. 16 (7). 
XV.—Loans to Members. 
[If a loan fund is intended to be established, it must be 
stated whether the same is to be formed out of the contributions 
or deposits of the members, or by both means, and whether 
moneys may be advanced to members on their personal security, 
with or without sureties; also to what extent not exceeding 
,£200, a member shall be capable of holding any interest in the 
loan fund; to what amount loans may be granted, such amount 
not to exceed, together vrith any moneys for the time being 
owing by the member to the society, the sum of £50; and to what 
total amount, not to exceed two-tliirds of the total sums for the. 
(b) [Any other securities upon which it is proposed the funds 
should be invested should here be specified]. 
(c) If the extent or value of the land is to be, limited, srfet 
here “ not exceeding acres ” (stating quantity) or “ not ex«e«d» 
ing in value £ .” (stating value). 
M