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.