Page 4 Advertisements Column 1

Southland Times, Issue 1129, 13 September 1869, Page 4

"OULES OF THE WESTERN DISTRICT li BUILDING, AND LAND SOCIETY. 1. — NAME AND OBJECT 0~8 THE SOCIETY. This Society shall be called the Western District Building, and Land Society, and is established for the purpose of raising by fortnightly subscriptions a fund from which to make advances to members to the value of their j rharos, to enable them to erect or purchase one j or more house or houses, or acquire freehold or leasehold estate, to be mortgaged to the Society for the purpose of securing the repayments, be these rules provided, and to facilitate the nfvumulation of small sums of money for those Tuirpose3, and others provided for in the following rulea. II. — ENTBANCE FEES. Each member on admission ahall pay an entrance fee of 2s 6d per share. 111. — SHABE3. The shares of the Society shall be of the ultimate value of £25 each. IV. — MINOH9. Females (not being married) and minors may become members of the Society, but shall not be allowed to hold any office. i V. — SHABE STTBSCBIETrONS. The subscriptions of the shareholders shall be 2s per share per fortnight, and shall commence and be payable by' every shareholder upon the thirteenth day of September next. For the purpose of receiving these subscriptions anrl all other payments due under these rules, attendance will be given in the Court House, Eiverton. or such other place »s the Committee irmv lawfully appoint,' from 7 to 9 on the evenings of every altevnate Monday upon which day the subscriptions shall be due and payable. The Committee shall furnish, the shareholders ■with pass-books, Wherein aU payments made shall be entered and initialed by the Secretary or other person entitled so to do. ' .„• Payments of subscriptions may be made in advance, for which discount at the rate of 2* per ceut per annum shall be allowed for periods of not less than, six months. VI. — FINEBJ

shareholder failing or neglecting to pay his subscriptions for two fortnights shall be fined 2d per sbare for every fortnight thereafter during the first half-year he or she may continue in arrcar ; 4d per share for every fortnight during the second half-year; 6d per share for every fortnight during the third half-year ; and ao on, increasing 2d per share per fortnight for every succeeding half-year. When the fines on unadvanced shares Bhall equal the amount of subscriptions paid by a member, the share or shares and interest of such member in the Society shall become forfeited and ceaso. All shares on which the entry money only has been paid shall be deemed to be forfeited and abandoned within one month after the game have been taken up. TCI. — MEETINGS OP THE SOCIETY. The meetings of the Society will be held in the Court House, Riverton, or elsewhere, as the Committee may appoint, upon notice and otherwise, as provided by law. , A meeting of the 3ociety, for giving advances of money, reading the minutes, and transacting the general business of the Society, shall be held on the first subscription night in November, January, March, Msy, and September in each and every year. An Annual General Meeting of the Society shall be held on the first subscription night in September in each year, at which shall be submitted a report of its proceedings, and a general statement of the funds and.effects of the Society, specifying in whose custody or possession the said funds or effects shall be then remaining,

together with an account of all Bums of money received and expended on account of the So'ciety since the publication of the preceding periodical statement, and such periodical statement shall be attested , by the Auditors, appointed as hereinafter mentioned, tind shall be counter-signed by the Secretary, and shall be printed, and every member shall be entitled to receive a copy of such periodical statement ; and at this meeting the office-bearers shall be elected. Every shareholder (minors and females excepteii; residing within a radius of 1 mile from the Sesident Magistrate's Court House, shall attend the Annual General Meeting of the Society, or in deiault thereof pay a fine ot 2s 6d each meeting. A Special Meeting of the Society may be held from time to time, and at any time the Committee may appoint. It shall be competent for seven or more shareholders to sign a requisition to the President to convene a Special Meeting of the Society, and the President shall do so by advertisement in two consecutive numbers of any local newspaper or j newspapers. But should a majority of the shareholders so convened decide that the meeting has been called on insufficient and frivolous grounds, the parties calling it shall bear the expense thus occasioned. The object of every Special Meeting shall always be distinctly stated both in the requisition and notice, and no business shall then be entered upon except that for which the meeting has been convened. Fifteen members shall be a Quorum at any general or special meeting. It shall be in the power of the Society at any such general or special meeting to appoint a Committee of shareholders for any speoial purpose. ' . . ••' Each shareholder present shall have one vote, and the President or ; tha Member of Committee presiding in his absence, shall have a deliberative as well as a casting vote. • ; All decisions that may become to by a majority, of the shareholders present at any meeting provided such decisions are in conformity with the rules, shall be binding upon all shareholders. VIII. — MEETINGS OF COMMITTBB. Two members of Committee shall attend in rotation every subscription night, and shall keep ; a check on tie Secretary. Such members of j Committee shall be paid Is per night for attend- . ance, and fined 2s 6d for absence. A General Meeting of the Committee shall be held upon the first subscription night of each month, but the Secretary may caJl a special meeting of the Committee at any time he may consider necessary. Five shall be a Quorum. The Committee shall have power to examine : and decide upon the securities offered by any member for an advance; to order all »umi of money to be paid ; and generally to carry the purposes of these rules into effect on behalf of the shareholders. Any member of Committee may be held to have resigned his office, if absent from two consecutive meetings of Committee, or if absent on any one subscription night when it is his duty to attend, unless be provide a substitute for such subscription night, who must also be a member of Committee j provided always that notice has been sent by the Secretary to such member, .of

such meetings, or of his duty to attend upon such subscription night, as the case may be. ES. — ADVAHCBS AHD INTEBEST. All the disposable funds of the Society shall on the first subscription night in November, January, March, May, July, and September, at 9 o'clock precisely, be submitted for Bale by com? jjetitioh among the .members; and shall be allotted to the member offering the highest premium fo^ the same, who shall receive the whole or such part thereof as may be equal to the amount of the advance he is entitled to receive in respect of his or her shares. The bidding shall be made to the President for the time being, and shall be commenced by any shareholder offering to taie the money at the full value 6i £25* per -chare-; and should there be no other bidder it ahali be allotted to him. Should" ' there, how<ver, be more' bidders, every bidder . : shall offer a premium, beginning with and advancing at the rate of not less than 2s per 'share, and the highest bidder shall be referred to the extent of his right. The premiums so offered in all cases, shall be deducted from the sum to be advanced. When a shareholder receives an advance, he shall pay interest upon the full amount, from the ctey pi tale tbwegf, at tfw ra,tejof 5 per c«#, yw