Fraternity-Testvériség, 2008 (86. évfolyam, 1-3. szám)
2008-07-01 / 3. szám
plicant, with all amendments to each thereof, shall constitute the entire contract between the Federation and the member. 83. If the age of the insured member has been misstated, the amount payable under the certificate shall be such an amount 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 premium payments made, without interest. 84. Any computation of withdrawal equities is based upon age at issue and the number of certificate years and upon the assumption that all payments have been made for the full period referred to; that there is no indebtedness to the Federation whatsoever and that the required reserve is then intact. The existence of a certificate loan on the date any withdrawal equity becomes effective will result in a reduction of any cash surrender value by the amount of the loan, or an appropriate adjustment in the amount of paid-up insurance or the amount and period of extended insurance. 85. No assignment of the certificate shall be binding on the Federation, with a sole exception of an assignment to the Federation itself, without its expressed consent, nor are the benefits liable to attachment, garnishment or other process, nor can they be seized, taken, appropriated or applied by any legal or equitable process or operation of laws to pay any debt or liability of an insured member or of the beneficiary or beneficiaries named in the certificates. 86. No action at law or in equity shall be brought or maintained on any cause or claim arising out of membership in the Federation or any beneficiary certificate thereof, unless said action is commenced within three years from the time the cause of action accrues. 87. The Federation will annually value all of its certificates maintaining thereon the reserve required by the various Experience Tables of Mortality. If the annual valuation discloses that such reserves are impaired, a special assessment may be levied to protect the interest of the insured members; and upon failure of any member to comply with such lawful arrangement, his or her certificate may be charged with its equitable share of such a deficiency, as a lien, to be deducted, together with interest at the rate of one percent (1 %) over the then prevailing prime rate per annum, compounded annually, in any settlement thereunder. As an alternative, a member may request a reduction of the corresponding insurance benefit proportionate to the value of the additional contributions. ARTICLE XIV TRUST FUND Unclaimed and Abandoned Property 88. Claims under any certificate or rider shall be submitted on forms prescribed. The furnishing of such forms shall not constitute an acknowledgment of liability nor be deemed a waiver of any rights or defenses available to the Federation, nor shall it be deemed a waiver of the right to demand further proofs. a) Any benefits payable under any policy or policies will be paid pursuant to the applicable state abandoned property laws if (1) no claim is received from a qualified person within three (3) years from the date the Federation establishes, from its records, that benefits become due and payable or (2) the proper claimant can not be located within said three (3) year period. ARTICLE XV COVERAGE 89. All provisions of these By-Laws shall be applicable with the same force and effect to all members and branches located in the various States of the United States of America. ARTICLE XVI MISCELLANEOUS PROVISIONS Miscellaneous Provisions 90. Only the Executive Committee of the Federation shall have the power to waive any provisions of these By-Laws relating to admissibility to membership, payment of dues and assessments, change of beneficiaries, or any of the provisions of the membership certificates, and any action taken by someone else through inadvertence or oversight shall not operate by way of waiver or estoppel against the Federation. 91. Should any provision of these By-Laws conflict with the laws of the United States of America or any of the States wherein the Federation is licensed to operate, the provisions of the laws of the United States of America or of the States shall prevail to the same extent as if specifically incorporated herein. 92. Robert’s Rules of Order shall govern the conduct and procedures of meetings unless otherwise stated in the By-Laws. 93. Any reference herein to the male gender shall be interpreted as referring to both genders, and the singular shall include the plural, unless the context of said reference shall indicate otherwise. 94. Any notice required by these By-Laws, by the Charter of the Federation or by the laws of the United States of America or of any of the States wherein the Federation is licensed to operate may be waived in writing by any person entitled to notice. The waiver or waivers may be executed either before or after the event with respect to which notice is waived. Any member attending a meeting without protesting, prior to its conclusion, the lack of proper notice shall be deemed conclusively to have waived notice of the meeting. ARTICLE XVII AMENDMENTS TO THE BY-LAWS 95. Amendments to the By-Laws may only be made by the Convention. Amendments may be proposed by the Board of Directors or a branch. Any such proposed amendment will Page 10 By-Laws 2008 Edition
