Building Societies

THE Society's rules should provide for the amending of, or addition to the rules, by resolution passed at a special meeting, of which seven days' notice shall be given to each member. The resolution to amend may be in the following form:

Form 1, Resolution amending Society's Rules

That the Society's rules be altered by the following clauses being inserted therein, as additions to the existing rules, viz. :—(Take in proposed amendments.) Or, That Rule No. XXXI. be amended so as to read as follows, viz. :-(Set out rule as after amendment.)

Or, That Rule No. XXXI. be rescinded, and that there be substituted therefor the following, viz. :-(Set out rule to be substituted.)

Or, That the existing rules of the Society be rescinded, and that there be substituted therefor the new rules circulated among the members, a copy of which is signed by the Chairman of this meeting for identification.

Form 2, Circular calling Meeting to amend Rules

Building Society.

Notice is hereby given that a Special Meeting of the Society will be held within (place of meeting), on the 21st day of November current, at two o'clock afternoon, to consider and, if approved, to pass the following resolution to amend the rules of the Society, viz. :—

(Take in Resolution embodying the amendment of the Rules.)

C. D., Secretary.

The Society's rules may provide that any resolution affecting the rules must be carried by a specified majority, or that any such resolution must be confirmed at a subsequent meeting. In the latter case, the circular given above should read: "To consider and, if approved, to pass the following resolution to amend the rules, which will afterwards be submitted to a subsequent special meeting to be duly convened."

The forms of application to register alteration of rules, change of registered office, and change of name, are all official forms, and the declarations required to be made by the official making the application to register are also official forms. These various forms can be procured from the registrars.

It is not usual to issue share certificates to the members of Building Societies in respect of the shares held by them in the Society, the only evidence of his title to the shares being the pass-book in his name and the fact of his name standing on the Society's Register and Ledger. The pass-book for a Society of the common type, in which the payments towards shares fall due fortnightly, is as follows:

19

Date of Meeting.

Form 3, Pass-Book for a Society on the Fortnightly-Payments

The dates should be printed into the pass-books. The subscriptions column of the pass-book should be added up regularly and carried forward, and should agree with the amount at the member's credit in the Society's Ledger. The interest column need only be summed year by year so as to show that the annual liability in respect of interest on mortgages has been extinguished.

Form 4, Transfer of Shares

a member of the

I, Building Society, in consideration of Fifty pounds sterling instantly paid to me by (name, designation, and address of transferee), do hereby assign and transfer to the said (transferee), his heirs, executors, and assignees, the five shares in the said Society standing in my name, subject to the Rules of the said Society and to all the conditions and obligations under which I hold the same. And I, the said (transferee), do hereby agree to take and hold the said shares, subject to the Rules of the Society and to the said conditions and obligations.-IN WITNESS WHEREOF,

This form of transfer is usually given in the book of rules; no stamp duty is payable in respect thereof.

Form 5, Application for an Advance

1. Name and address of applicant.

2. Description of the property offered as security.

3. Nature and amount of the burdens on said subjects.

4. Particulars of existing insurances covering the property.

5. Terms of lease, if the subjects are let; or if in the applicant's own occupation, the assessed rent.