Page 3 Advertisements Column 6

Thames Star, Volume VII, Issue 2000, 2 June 1875, Page 3

Meetings Grrahamstown, 11th May, 1875. TO THE SECRETARY OF THE THAMES LAND, BUILDING, AND INVESTMENT SOCIETY (Pjbbmanbht). _ ■. - SIR —Wo, the undersigned Shareholders in the above-named. Society, request you to call a GENERAL MEETING of tho, t Society for tho purpose of altering Eules Nos. 1, 2, 3, .4, 6, 7,12, 13, 14,15,16,19, 20, 21, and 22, which, with tho proposed attentions, will read as follows:— , FORMATION OF THE SOCIETY. . • • . This Society shall be called the " Thames Land, Building, and . Investment Society, Permanent." . '",•'.-'' OBJECTS OF THE SOCIETY. ' ,- - The objects of tho Society are :—To afford facilities for the jafe and profitable investment of small savings; to assist its members, by advances.ifor the purchase of freehold- or leasehold property; for the redemption of existing mortgages; for building upon, or otherwise.,' improving property already in their possession, or for anj other purpose for which capital can be applied in accordance with the - Building.and Land Societies Act. •-......,,. The capital of the Society shall be created by means of monthly payments from its Members of not less than five shillings per share; - and by payments, made in advance, on account of any share or shares. RULE I. MEMBERS. ■-'-'' 1. The Society shall consist of Investing and Borrowing members. 2. Persons of all ages may become members of tho Society, but shall not be entitled to take part, in its meetings or hold office unless , over twenty-one years of age. . . /." RULE 11. 1. The Society shall hold its meetings the First Monday in each month, at such place as ,the Committee may from time to time appoint. 2. The general or special meetings of. the' Society shall beheld at~ such time and" place as the Committee may determine, seven days' notice thereof being given by advertisement signed.by the chairman or secretary, in at least two issues of a Thames newspaper, with a ' statement of tlie business proposed to be transacted at such meeting, and the chairman of any meeting shall have power to adjourn' the " same, or to extend the term thereof to an hour to be determined on at such meeting. 3. Twelve investing members shall form a quorum 'at any general " or special meeting of this Society. All questions shall be decided by a majority of votes, and the sense of the meeting taken by a show of hands, or by a division, or by ballot if, demanded by five members , present. Should a ballot be demanded, the voting shall be. as follows :—Two scrutineers shall be elected by those present, and the secretary shall deliver to each, member entitled to vote a paper signed by himself, and having on it, in, writing, the number of votes to which * the member is entitled according to the following scale:-» - The holder of 1 to 5 shares to have 1 vote i, 6 „ 10 „ 2 votes ■ i, 11 „20 „ 3 „ "„ 21 shares and upwards 4 „ The ballot, shall be kept open for such time as the chairman shall consider necessary for all the members present to, vote, at'the end of which time the scrutineers shall open the ballot box, count the votes, and report to the chairman, who shall declare the result. 4. An annual meeting of the Society shall be held in the month of August in each, year, at which a report of the proceedings of the Society' and audited accounts up to the end of the preceding financial year shall be submitted by the committee, and the annual ' election of office-bearers shall take place. - _• - , 5. It shall be competent for any seven investing members to sign- > a requisition to the secretary to call a special general-meeting, and the - secretary shall do so by advertisement, as before described. Provided that the object of the meeting-be distinctly stated both in the requisition and in the advertisement, and no other business shall then be entered upon except that for which the meeting has been convened,. but should a majority of the shareholders so convened decide that the meeting has been called on insufficient or frivolous grounds, tho requisitionists shall bear whatever expenses may have been thereby incurred, and on their failing to pay the amount it shall be deducted proportionately from whatever monies may stand to their credit in the , books of the Society. OFFICERS. - : 6. The business of the' Society shall be conducted by three trustees; a committee of seven members, a solicitor,'a treasurer, a secretary, and two auditors. \ : -' • * " RULE 111. . . "'. .;,,..,■;'..-' , TRUSTEES. 1. All deeds, writings, and securities, to and from the Society shall be made and taken as to or from the trustees, and all such deeds, writings, or securities shall be deposited in such sepureand convenient place as may be determined upon by the Committee, and the same shall not be removed therefrom without an order from the committee. ] ' 2. All payments which the committee may,order shall be paid by cheque (the better to preserve secrecy, payablo to a number,) signed by one trustee, one member of committee, and the secretary." 3. When any trustee shall .become a borrower, or do any act' moving from himself, then all his securities and undertakings shall be - made over to the «ther trustees for the time being. . ' ' . 4. In case any or either of the present trustees, or any future ; trustee or trustees appointed during the continuance of this Society shall die, be desirous of resigning, or become incapable of acting, or go to reside more than four miles from the town of Grahamstown, or become from any other reason unable to perform the duties without inconvenience to the committee, or, in the opinion of the committee, bo - guilty ol any gross neglect, or imprcper conduct, or become bankrupt, or insolvent, or compound with his creditors, the secretary shall convene a special meeting of the committee (and when any complaint is made against any trustee, such trustee shall have notice from the secretary - four clear days before such meeting), and the committee shall hear and determine the subject matter of such notice, and may expel, or remove, or declare vacant the office, or accept the resignation of such trustee. 5. In case of the death, resignation, or removal of any trustee, the . committee shall have power, from time to time, to fill up such a vacancy, and the trust property shall vest in the surviving, or continuing, and newly appointed trustees; provided, nevertheless, that it,. shall not be imperative on the committee to fill up such vacancy until the number of trustees have been reduced to one, and in tho meantime, until the appointment of such new trustee or trustees, the trust property shall vest in the surviving or continuing trustees or trustee, and the trustees or trustee, for the time being, shall be qualified to do - all acts the same as if the original number were in existence. - - 6. In the event of the committee deeming it requisite to bring any action or suit, or commenco any legal proceedings" on bqhrifkot.^he ' society respecting the property, or claims, or any other matter concerning the interest of the Society, the same shall be brought by and ■ in the names of the trustees, and they shall be borne harmless, and indemnified by the Society from any loss,or damage which they, or -' one, or any more of them may sustain in reference thereto; but no such action, suit, or proceeding shall be commenced by the trustees, or any of them, without the sanction and consent of the committee. RULE-IV. • '-■• : COMMITTEE. 1. The committee shall consist of seven investing members, of whom four shall form a quorum. ■ I 2. At each yearly general meeting in the month of August, two of the committeo shall retire in rotation, and two others elected. Tho members so retiring shall be eligible for re-election. 3. No member shall be qualified- to serve on the committee unless he be the holder of at least four investing or paid up shares, >nd , , should any member of the committee become bankrupt or insolvent, or compound with his creditors, he shall immediately cease to be a member of the committee. j 4. Each member of the committee shall be separately elected, and a^ny vacancy that may occur in the committee in tb« intermediate periods between annual elections shall be filled up by the residue of . the committee, for the time being, the member so appointed taking the place of the one for whom he is substituted. 5. The committee shall meet once in every month, or oftcner if necessary, in such place, and at such, times as they may deem fit; and the minutes of the preceding meeting having been read from tho minute-book, the banker's book shall be produced, and the amount deposited since last meeting shall be ascertained, and entered as the first minute. The committee shall have power to appoint sub-committees for various purposes, to consist of not less that three members. 6. Any three members of the committee shall have power to call a special meeting of the committee, after giving three clear days' notice to the chairman or secretary, and stating the object for which the meeting is to be"called. ...,,,, i. i. *» 7. No member of the committee shall be present when the votes , i are taken on any question which relates to his individual interest or conduct. 8. Two members of the committee in rotation (to be called Istewards) shall attend the monthly meetings of the Society, and receive all monies, and shall be jointly responsible for the amount and quality, thereof, and at the close, of tho meeting shall account for, and pay over the samo to the treasurer, who shall give an acknowledgment, for the same. 9. Each member of the committee shall be entitled to. receive, out of the funds of the Society, the sum of two shillings and sixpence'for r each meeting which he may attend during the year, provided' he is' in' r attendance before the business of the meeting has commouced. -' ;, ■ *