Page 2 Advertisements Column 4

Southland Times, Issue 1719, 25 March 1873, Page 2 (Supplement)

SPuMie Notice. shall be brought or defended by or in the name of the Trustees for the time being, and they shall be indemnified from all loss or damage that may be sustained by them in consequence thereof; but no such proceedings shall be taken or defended until tlie approbation of the majority 0' the Society present at a special meeting to be convened for that purpose shall be first had and obtained. Upon the resignation of any Trustee or Trustees, he or they may require a bond or other deed of release and indemnity from the Society, secu'in.r him or them from all future liability on account thereof, which bond or deed the Committee for the time being are hereby authorised to execute and deliver, signed by the Presilent and two of their number, for and on account and behalf of all the shareholders of this Society • and which shall be as effectual to bind them and the property and effects of the Society, as if made, executed, and delivered by cash member tliereof. XXI —SOLICITOB. A Solicitor or Legal Agent may be appointed by the Society, who shall examine tlie Title Peeds of property offered as security, and prepare mortgages and other writings when necessary ; and furnish the Committee with all necessary instructions relating to such properties as may be oflered or conveyed in security ; tha cost of which shall be borne by the parties proposing such properties. XXII. — STTBVETOB. A Surveyor may he appointed by the Committee, who shall examine all properties on which his opinion may be required ; and within one week after he has been requested to value any property, he shall report thereon in writing to the Committee. He shall receive su h remuneration for his services as the Committee may agree upon. Such remuneration shall be paid by the member whose property has been examined t-y such Surveyor. XXIII. — AUDITOB3. At the annual meeting of the Society, one Auditor shall be appointed by the shareholders, and one by the Committee ; and they shall assist the Secretary in allocating the annual profits of the Society ; and shall audit the accounts yearly in terms of Rule VII. The Auditors shall receive such fee as the Society may from time to time appoint. XXIV. — OFFICE BEABEBS. The f-ffairs of the Society shall be conducted by a President and Commtttee, consisting of Nine Members, to be elected at the fi'-st General Meeting of the Society. Six of the Committee shall retire nnnually, and their places shall be supplied at the Annual General Meeting of the Society, to be held on the first subscription night in September each year. Any vacancy occurring in the course of the year shall be filled up by the remaining Members of Committee, but every iperson elected by the Committee shall retire at the first ensuing Annual Meeting of the Society. Retiring Members shall be eligible for re-election. A list shi.ll be kept by the Secretary of the order in which Members of Committee are elected, and the retiring Members shall be struck off from the top of the list. (Sec Meetings oi Committee). XXV . — PRESIDENT. The Presilent (or in his absence the senior member of Committee) shall be convener of- all meetings ; and shall also countersign as Treasurer all cheques upon the Society's Bankers. He shall be elected at tlie annual meeting by the shareholder?, and anj vacancy occurring shall be filled np by the Committee in the same mannei as a vacancy in Comnittee. XXTI.— SECRETARY. A properly qualified person, who shall be a member of the Society, shall be appointed by the Society to act as Secretary, who shall receive such salary as the Society may appoint. He shall give ample security, in accordance with section 18 of the Building and Land Societies Act, 1866. He shall pny all monies received by tlie Society into ihe Bank the diy after col lection, and he shall sign all cheques or orders for money upon the Society's Bank. He shall keep all the books of the Society ; advertise all meetings ; attend such meetings ; take minutes of the proceedings thereat ; conduct the correspondence of the Society, and pcr 1 orm such other duties as may, in virtue of his office, devolve upon him, under tha instructions of the Committee. He shall assist the auditors in preparing the Report on the state of the Society's funds, and allocating the annual profits. XXVII. — SUBPLUS FUNDS, AND POWER TO BORROW. In the event of there being no demand for the Society's funds for investment, they [miy] be invested in name of the 'j Trustees in real securities within the Province. The Trustees, with the sanction of the Committee, may take up money on debentures, for the purposes of the Society, at a rate of interest not exceeding 10 per centum per annum, such amount not to exceed at any time the estimated receipts of theSociet\ for the ensuing 12 months ; such debentures to be signal by one of the Trustees, and countersigned by the Secretary, without personal liability, and to be paid out of the funds of the Society. [Should the Committee at any time be unable to lend the Society's funds on first-class security at 8 per cent, per annum, it shall be lawful for them by a irajority of seven tenths, the President's vote being counted, to decide to ballot out members holding unadvanced shares of not less than four years' standing, provided always that members of the oldest series shall be first balloted out, anti such balloting out shall take place in such manner, at such times, and to such extent as the Committee shall decide, and such shareholder shall receive the full amount of the profits standing to his credit.] XXVIII. — APPEALS. Any shareholder who may feel aggrieved by any decision of the Committee, may appeal from their decision to the Annual General Meeting of the Society. XXIX. — NOTICES TO MEMBERS. All notices shall be deemed duly served (except when otherwise directed by these rules) by putting the same into the Post Oifice, addressed to tbe party, at the place of abode given by lnm or her to the Secretary. XXX. — TERMINATION OF SHARES. When tne value of any unadvanced share shall amount to the sum of £25, the accounts shall be audited, [and the amount of such share or shares paid to tlie holder thereof,] and the Trustees shall satisfy the legal claim of each member whose liabilities to the Society have bpen paid or discharged, and with the advice of the solicitor of the Society, shall deliver up to each member, or his or her legal representatives, the title deeds and other documents which shall have been deposited with them by such member as a security to this Society, and shall and will, if required, execute all necessary conveyances, releases, or receipts of payment, at the expense of the party so requiring the same. XXXI. DISPUTES BEFERBED TO JUSTICES. Every matter m dispute between the Society, or any person acting under the Society, and any individual shareholder or member thereof, or any person claiming on account ot any member, shall be referred to two Justices of the Peace, in terms of the " Building and Land Societies Act, 1866." XXXII. — ALTEBATIONS AND AMENDMENTS, AND DISSOLUTION OF THE SOCIETY. These rules shall not be altered or amended, or the Society dissolved, except in pursuance and in couformity with the said Act. LONDON AGENCY. 1 'HE SOUTHLAND TIMES is filed for refer- ■*- ence, and may be read gratuitously in London, at the News Rooms of Messrs Gordon and Gotoh, 121, Holborn Hill, where Advertisements and Subscriptions for the 6ame are received. i