Funds may be invested with the Commissioners of the National Debt, 27; If accounts not made to Commissioners, interest thereon to cease, &c., 28; Re-depositing of Money withdrawn, 28; Transfer of Stock, 28; Power of Attorney, &c., not liable to Stamp Duty, 29; Limitation of Exceptions to Societies not assuring above As to Determination of Disputes according to Rules, 31; Disputes to be settled by Justices, if Rules so direct, 31; In what cases by the County Court, 32; How order enforced, 33; Lord Chancellor may make order for Regulating the Proceedings, 33; In the case of Societies whose Rules are not certified, Disputes between the Society and its Members to be settled as in cases of Certified Societies, 34; Jurisdiction of County Court given to the Sheriffs' Court in London, and Assistant Barrister, &c., in Ireland, and LIMITATION OF AMOUNT OF MONEY TO BE PAID ON DEATH OF CERTAIN MEMBERS, AND REGULATIONS AS TO PAYMENT OF SAME. On Death, sum under £50 may be paid without Administration, 35; Indemnity to Trustees, 35; No member to receive more than £200, or £30 a year, from any number of Societies, 36; No money to be paid on Death of a Child without a Certificate by a FRIENDLY SOCIETIES, HOW DISSOLVED, 42. Registrar's Award to be conclusive without Appeal, 45; Evidence of NOTE. The numbers of the Sections before the clauses in Parts I. to IX., both inclusive (where not otherwise stated), relate to the Act 18 and 19 PART X. THE INDUSTRIAL AND PROVIDENT SOCIETIES' ACT, 25 AND 26 VICTORIA, CHAPTER 87. Arrangement of Clauses. Repeal of recited Acts, 48; As to Societies Registered under recited Acts, 48; Constitution of Societies under this Act, 48; Rules 48; Registration of Society, 49; Certificate of Registration to vest all Property in Society now held in trust for Society, 49; Copy of Rules to be Delivered to persons on Demand, 49; No Society to be Registered by same Name as that of any Existing Society, 49; Members' Interests Limited to £200, 49; Publication of name by Society, 50; Penalties on Non-publication of name, 50; Every Society to have a Registered Office, 51; Penalty on Default, 51; Notice of Situation of Registered Office, 51; Signature and effect of Rules, 51; Application of Friendly Societies Acts to this Act, 51; Power to Member to Nominate Persons into whose name his Interest may be Transferred at his Death, 52; As to the Winding up of Societies, 52; Dissolution of Society not to prevent Winding up of its affairs, 52; Provisions of Joint-Stock Companies' Acts to apply, 53; Liability of present and past Members of Society, 53; Society may be constituted under Companies Acts, 54; Members may Inspect Books, 54; Sheriffs' Jurisdiction in Scotland, 54; Annual Returns to be prepared as Registrar may direct, 54; Recovery of Penalties, 54; Short Title, 55. PART XI. AN ACT FOR THE REGULATION OF BENEFIT BUILDING SOCIETIES, 6 AND 7 WILLIAM IV., CHAPTER 32. Arrangement of Clauses. Societies may be established for the Purchase or Erection of Dwellinghouses, 57; Bonus, &c., not to be Usurious, 58; Rules may be made to Provide forms of Conveyance, &c., 59; Provisions of Friendly Societies' Acts Extended to this Act, 59; Receipt endorsed on Mortgage to be Sufficient Discharge without Reconveyance, 60; Not to authorise Investment of Funds in SavingsBank, 60; Benefit of Act to Extend to all Societies Established prior to June, 1836, 60; Exemption from Stamp Duty, 61; Public Act, 61. Building Societies not Enrolled Liable to Operation of Winding-up Act, 59. PART XII. AN ACT TO AMEND THE LAWS RELATING TO LOAN SOCIETIES, 3 and 4 VICTORIA, CHAPTER 110. Arrangement of Clauses. Repeal of 5 and 6 Wm. IV., c. 23, and Provisions to be in Force for Recovery of all Sums Lent previous to Passing of this Act, 62; Society not Liable to Penalties for Loans made before Passing of THE LAW OF FRIENDLY SOCIETIES, ETC. PART I. ORIGIN OF ASSOCIATIONS. MAN, conscious of his infirmities, has ever been inclined to associate with his fellow-creatures for the purposes of mutual comfort and protection. This social feeling is firmly rooted in the human heart by nature, and confirmed by an enjoyment of the blessings it imparts. To this sentiment communities or assemblages of men owe their origin. The progressive increase of mankind, and the diversified extent of the mental feelings and capacities of men, have rendered the forms of association numerous and complicated. The associations treated of in the following pages may be termed, generally, "Benefit Societies"-societies established in this kingdom for raising by voluntary subscriptions of the members thereof, separate funds for their mutual relief; and thus, by the contribution of the savings of many persons to one common fund, to make effectual provision for the casualties affecting all the contributors. B Act, 63; Formation of Loan Societies under Restrictions in this Act, 63; Three Transcripts of Rules to be Submitted to a Barrister, &c., 63; Barrister, &c., to Certify the Transcripts, and Fee payable to Barrister, 64; One Transcript to be kept by the Barrister, another Returned to the Society, and the third sent to Clerk of the Peace, 64; Justices to Confirm Rules, 65; Rules, &c., to be Binding when Certified by Barrister, 65; No Confirmed Rule to be Altered but at a General Meeting of the Society, &c., 65; Limitation of Fee payable to Barrister, 65; Rules to be entered in a Book to be Kept by the Officers of the Society, 66; Property of Society Vested in the Trustees thereof, 67; Societies to Issue Debentures, 68; Trustees Signing Debentures, not personally Liable unless specially undertaken, 68; Sums under £50 deposited in any Loan Fund Society Payable without Probate to the Representative of any deceased Debenture-holder, 68; Treasurer, &c., to give Security, 69; Amount of Loan, 69; No Note or Security liable to Stamp Duty, 69; Securities not Transferable, 70; Recovery of Loans, 70; Recovery of Loans in Courts of Request, 72; Power of Societies to reduce Demand, to enable Courts of Request to Adjudicate, provided they accept the same in full, 72; Treasurer of any Loan Society to Sue for Securities granted to his Predecessors, 72; Sum to be demanded for Inquiries, 73; Sum for Interest, 73; New Schemes must be Certified by Actuary of National Debt Office, 74; Sums herein stated to be in full of all Charges, 74; Clerks overcharging Liable to Penalties of Usury, 75; Instalments not to be Paid in Advance, nor Loans to be Balloted for, 75; Penalty, 76; Members to be competent witnesses, 76; Forms stated in Schedule may be used, 76; Abstract of Accounts to be made out Yearly and sent to the Barrister, 76; Copy thereof to be laid before Parliament, 77; Trustees not personally liable, 77; Extent of Act, 77; Interpretation Clause, 77; Duration of Act, 78; Act may be amended this Session, 78. Loan Societies' Act made Perpetual, 26 and 27 Vic. chap. 56, 78. |