Fraternity-Testvériség, 1964 (42. évfolyam, 1-12. szám)
1964-06-01 / 6. szám
24 FRATERNITY well as the amount of life benefits which may be issued without medical examination, rests squarely upon the Convention and the Supreme Council. A word of caution should be emphasized here and we should exercise self-restraint against those requests which purportedly solve all problems in the field of promotion, but which could prove very costly to the Federation. In passing, I wish to express my thanks publicly to our Secretary for his efforts, his zeal and tenacity in getting the amendment through the Congress of the United States. I wish also to call attention to the fact that because of our continued tenacity we have established respect and a much better relationship between our Federation and the Commissioner of Insurance for the District of Columbia. IV. By-Law Amendments After the last Convention, the By-Laws enacted were prepared and submitted for approval to every state where we are licensed to operate. After some correspondence and personal conferences, approval of our By-Laws was received. Since that time, it was felt that only minor changes need be made for the more efficient operation of our Federation. This revision has been prepared and approved by the Supreme Council and will be submitted to this Convention for final adoption. More detailed information as to the reasons for the necessity of these changes will be available to the Committee entrusted with this work. V. Disciplinary Matters During the past four years I am happy to report that no need arose for disciplinary action requiring legal intervention. Whatever matters required adjustment were handled by our Secretary in a true spirit of fraternalism. In this regard our branches and the conduct of their affairs are maintained on a peaceful level. VI. VI. Mortgage Loan Investments During the past four years, the number of mortgages placed was somewhat lower than that of previous periods. A total of eighty-six mortgage loans had been placed, which mortgage documents required considerable time in examining and checking. In connection with these mortgage loans, an examination of over four hundred seventy separate documents had to be made to determine their legal sufficiency for the protection of the Federation. In many instances it was the duty of your Legal Counsellor to prepare the documents themselves or rework the submitted documents to adequately protect the interests of the Federation. The Investment Committee has wisely seen fit to make diversified investments, not only in connection with mortgage loans, but also in other types of investments, so as to maintain a high state of liquidity. All mortgage loans have ample security reserves and are
