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.