Fraternity-Testvériség, 1980 (58. évfolyam, 1-4. szám)
1980-10-01 / 4. szám
ARTICLE X PROPERTY — INCOME — FUNDS 86. The property of the Federation shall consist of all assets of every kind and nature now belonging hereto and all that which in the future shall arise from membership dues, assessment rates under certificates and endorsements issued by the Federation, income on investments, donations, bequests, or anything which shall be otherwise acquired by the Federation. 87. The income of the Federation shall consist of dues, assessments on certificates, income on investments, bequests, or any other money received by the Federation. 88. All the property and income of the Federation shall constitute and shall be handled in the following funds: a) The life insurance fund. b) The sick benefit fund. c) The hospitalization fund. In addition to the above, the Federation may handle as trustee other funds for which it is accountable. The accounting of all funds shall comply with the laws of the respective states and provinces. No member, beneficiary or any other person, association or corporation shall have any property right whatsoever in any of these funds except as may be provided for by these by-laws. ARTICLE XI INSURANCE DEPARTMENT ADULT INSURANCE PLANS Certificates — Dues — Age — Amount of Insurance — Change in Plan — Tables of Rates 89. In accordance with the rights granted in its charter, the Federation extends to its members life, accident, sick benefit, hospitalization and any other certificates containing the respective rights and obligations of membership, as issued from time to time in accordance with plans approved by the respective states. 90. Applicants for membership shall pay dues for their certificates according to age nearest to their birthday at the date of application. 91. The Federation issues certificates of insurance to one hundred thousand dollars ($100,000.00) between the ages of 16 and 65. Accidental death certificate riders may be issued to the face amount of the certificate but in no event shall it exceed twenty-five thousand dollars ($25,000.00). 92. A member may have his plan or amount of insurance changed to any other plan or amount to the limits prescribed in these by-laws. Terms, conditions and new rates shall be requested from the Vice President-Secretary. 93. The amount of dues payable under the various insurance plans, computed in one lump sum, are to be found in the Tables of Rates printed as a separate Appendix. These same tables also show the withdrawal equities as well as other non-forfeiture options. ARTICLE XII THE CERTIFICATES Issuance — Validity — Encumber ance Assignments Legal Action — Restrictions — Valuation 94. Every certificate issued shall be accepted by the member upon the express condition that the certificate and any riders and endorsements, the chárter of articles of incorporation, the bylaws of the Federation, the application for membership and the -declaration of insurability signed by the applicant with all amendments to each thereof, shall constitute the entire contract between the Federation and the member. 95. If the age of the insured member has been misstated, the amount payable under the certificate shall be such as the monthly rate would have purchased at the correct age, provided, that if the correct age was not an insurable age under the Federation’s by-laws, payments shall be limited to the net mortuary payments made without interest. 96. Any computation of withdrawal equities is based upon age at issue and the number of certificate years and upon the assumption that XII
