Page 3 Advertisements Column 4

Southland Times, Issue 1157, 1 November 1869, Page 3

Building and Land Society's Rules. Ie XV. — BALANCE OF BOOKS. 18 The books of the Society shall be brought t ■"" balance, and the profits ascertained, on the d subscription night in September in each year, » p thereupon the net profits shall be applied n follows, viz., 80 per cent, shall be credited in h books of the Society to each shareholder, proportion to the number of shares he or may hold in the Society, and the balance, twenty per cent, shall be credited to " Reter c Profit*" account. On the termination of 0 Society, the amount standing at the credit of c " Reserved Profits" account shall be credited r each shareholder, in proportion to the numbei shares he or she may hold in the Society. 8 XVI. — BHABBHOU>BBB "WITHT)BAWIN<>. c Any shareholder, holding unadvanced sha: |T shall be entitled to withdraw from the Boci< after it has been in ezistenee for 3 years, i !* before the full sum of £25 per share stands to ' credit in the books of the Society, on applicat '» in writing to the Committee, and shall be entit * to receive the amount of the subscriptions ac * ally paid in by him to the Society upon such i 9 « advanced shares, together with a proportion 1 I the profits standing at his credit in the books ' the Society, as at the immediately precedi annual balance, according to the length of tii j" he has been a holder of such unadvanced ohar sharesholders of three years' standing receivi three-tenths of the said profits ; four years, foi tenths ; and so on increasing one-tenth for ea succeeding year. The remainder of the prof standing at the credit of any shareholder wii drawing shall go to the general profits of t Society for the financial year wherein be retir Application* for withdrawal shall be consider and granted by the Committee in the order priority of the dates on which these applicatio shall have been received by the Secretary, * payment shall be made to such applicants as so as the Committee shall have sufficient funds their disposa 1 , and not otherwise. XVH. — AS TO MBMBBBS BSOOMtNO ZUKATIO. In case any member (not having receiv any advance) becomes lunatic, or unsound mind (and as evidence thereof medical practitioner's certificate shall be deem sufficient), it shall be lawful for the Trustees refund the amount paid in by sujh membi together with the same proportion of profits members withdrawing are entitled to, and tl Society shall not be answerable for the misapp cation or the non-application of the money paid. XVIII. — DEATH OF SHABSHOLDEBB. Shares of the Society, on which no advan has been made, shall, on the death of a sharehold< belong to his or her executors or admins trator* wii all the benefits and under all the conditions thet to attached. Upon the death of a shareholder holding shar on whior. an advance has been made, tho par having right to the property in respect of whii the advance has been made shall be deemed be the shareholder, and shall be liable to ful the whole obligations incumbent on »uch deceast shareholder to the time of his or her death. XIX. — TBUBTXKS. William Hugh Nurse, Esq., Samuel Hod kin son, Esq., and Laohlan M'Gillivray, Eat and the survivors and survivor of them, < such other person or persons a* may 1 appointed to act with or after them, or any them, shall be the Trustees of the Society and in case of the death or resignation of any < all of the before-named Trustees, the Commits ahall cause to be called a special meeting of tl shareholders, who shall appoint Trustees in h or their room, and all the interest and power < the original Trustee* or Trustee, shall vest i such new Trustees or Trustee immediately on h or their appointment, alone or jointly with tt surviving or continuing Trustee or Trustees i the case may be. All monies belonging to the Society shall t lodged in the name of the Trustees of the Societ in such Bank as the Society may from time t time appoint. All deeds, writings, and securities to and froi the Society shaU be made and taken in the nan of tbe Trustees for the time being ; those i favor of the Society shall be deposited in abo or iron chest to be lodged with thedociety's banker or such person as the Committee may appoint. The Trustees shall not be answerable for th other, or others of them, or for the acti, deedi neglects, or defaults of the other or others c them ; but each and every one of them only fo his own acts, deeds, neglects, or defaults respec tively ; and they or any of them shall not b accountable for any banker or other person wit whom any part of *he money or propert belonging to this Society shall be deposited, c for any misfortune, loss, or damage, which ma happen in the execution of the powers and trust herein contained, or in relation thereunto, excep the same shall happen by or through their ow wilful default, respectively. In case it shall be necessary or expedient t bring or defend any action, suit, or other pre ceeding at law or in equity, touching or concern ing the property or assets, rights or claims of th Society, or touching or concerning the breach o non-performance of any of the articles, matten and things herein contained, or of the conduct c any member or officer of the Society, the same sha be brought or defended by or in the name of th Trustees for the time being, and thjy shall b indemnified from all loss or damage that may b sustained by them in consequence thereof ; bu no such proceedings shall be taken or defende until the approbation of the minority of the Societ present at a special meeting to be convene for that purpose, shall be first had and obtainec Upon the resignation of any Trustee or Trui tees, he or they may require- » bond or other dee of release ami indemnity from the Soeietj securing him or them from all future liability o accouu* thereof, which bond or deed the Com mittee for tae time being are hereby authorise to execute and deliver, signed by the Presiden and two of their number, for and on account an behalf of all the shareholders of this Society ; an which shall be as effectual to bind them and th property and effects of the Society, as if mad< executed, and delivered by each member thereo XX. — SOLICIT JB. A Solicitor or Legal Agent may be appoints by the Society, who shall examine the Titl Deeds of property offered as security, and prepai mortgages and other writings when necessary and furnish the Committee with all necessar instructions relating to such properties as ma be offered or conveyed in security ; the cost < which shall be borne by the parties proposin such properties. XXI. — SUBVEYOB. A Surveyor may be appointed by the Con mittee, who shall examine all properties on whic his opinion may be required ; and within ot week after he has been requested to value ar property, he ahall report thereon in writing 1 the Committee. He shall receive such remum ration for his services as the Committee ma agree upon. Such remuneration shall be paid b the member whose property has been examine by such Surveyor. XXII. — AUDITOBS. At the annual meeting of the 3ociety, oi Auditor shall be appointed by the shareholder and one by the Committee ; and they shall asSY the secretary in allocating the annual profits < the Society ; and shall audit the accounts year! in terms of Rule VII. The Auditors shall receive such fee as tl Society may from time to time appoint. XXIII.— OFFICE BEABBBB. The affairs of the Society shall be conducte by a President and Committee, consisting of Nil Members, to be elected at the first Ckner Meeting of the Society. Six of the Committ shall retire annually, and their places shall 1 supplied at the Annual General Meeting of tl Society, to be held on the first subscription nig 1 in September each year. Any vacancy occurrii in the course of the year shall be filled up by tl remaining Members of Committee, but eve: person elected by the Committee shall retire the first ensuing Annual Meeting of the Societ Retiring Members shall be eligible for re«electio A list shall be kept by the Secretary of the Ofd in whi«b Member* of Committee are elected, v