Fraternity-Testvériség, 1983 (61. évfolyam, 1-4. szám)
1983-04-01 / 2. szám
i Page 8 TESTVÉRISÉG NATIONAL AND STATE FRATERNAL CONGRESS We maintain membership in the National Fraternal Congress of America along with the various state congresses. It is apparent that on all levels the theme being stressed is professionalism. This is due mostly to the complexity of the insurance business and the number of eager agents out to get the sale. We arc kept up to date on the various laws under consideration for change in the states. Also the many speakers at the congresses give the fraternals the insight of getting together a well educated field force, even filtering down to the branches wherein the knowledge of the products is a must. During the year, 204 new loans were granted to the members against their insurance certificates. This increase could have been due to the very attractive interest rate of 5V< presently charged on our older certificates. The outstanding loans amount to $809,264.00 in the USA and $17,319.00 in Canada as of December 31, 1982. There were 754 expense vouchers issued in the USA and 43 in Canada. All claims with proper documentation were processed and cleared within 24 to 48 hours of arrival. Again this past year we are fortunate that our mortality experience has remained high. LIMITATION OF EXPENSE - NEW YORK The NFCA headquarters are still attempting to get relief on the formula used by New York state on the limitation of expenses. Even though negative balances appear as we apply their formula, they have not vet exerted anv undue pressure on the fraternal operations. For us this could be remedied with an increase in the writing of new business. Hopefully this will be fortcoming with the new compensation system. IRS EXAMINATIONS We were examined by the IRS twice in 1982. The first time in April and then again in December. All departments were examined and further information on these examinations will be reported by the Treasurer. OTHER DUTIES All points outlined in the by-laws pertaining to my office have been complied with along with the following tasks. 1 am the recording secretary for the Executive Committee, Board of Directors, Board of Managers of Bethlen Home, Student Aid Fund and the Consolidation meetings. I lie breakdown of these meetings are: Executive Committee .................................... 25 Regular Meetings — Board of Directors .... 2 Special Meetings — Board of Directors .... 3 Executive Committee — Student Aid Fund . . 9 Regular Meetings — Board of Directors Student Aid Fund .................................... 2 Consolidation Meetings ................................ 3 All of the minutes were mailed to the Directors and arc on file in my office. TRUST FUND There arc unclaimed matured certificates and death benefit proceeds which cannot be remitted to the legal recipients due to various reasons. These are kept in our trust fund. After a certain number of years, in accordance with the state laws, these deposits are considered as abandoned property under the escheat laws. These unclaimed insurance proceeds are then transferred to the respective states. We make every effort to remit the proceeds to the legal recipient and publish the names in the Fraternity. This has brought some results but monies arc still being transferred to the states when no response is received. REINSURANCE All life insurance certificates issued that are over $15,000.00 are automatically insured up to $60,000 with the North American Reinsurance Company. U.S.A. Canada Reinsurance Premium Paid in 1982 $9,298.74 $3,117.61 Less: Experience refund 2,593.94 630.18 Net amount of reinsurance paid m 1982 $6,704.80 $2,487.18 ★ ★ ★ As this report covers the activities of the previous year, special thanks and appreciation must be extended to m\ office staff. In claim settlements, my secretary, Mrs. Katalin Paschke has reconsidered her thought on resigning.
