Verhovayak Lapja, 1955 (38. évfolyam, 1-12. szám)

1955 / Verhovay Journal

November 16, 1955.

Verhovay Journal

PAGE 13

Old Text: Branches with at least two hundred members are entitled to elect two representatives and branches with three hundred and fifty members, three representatives. Since five hundred members constitute a District, any Branch having that number shall ipso facto be a District in itself with the attendant rights and duties.

New Text: Branches with at least two hundred members are entitled to elect two representatives and branches with three hundred members, three representatives. Since four hundred members constitute a District, any Branch having* 1 2 that number shall ipso facto be a District in itself with attendant rights and duties.

Page 9. Section 35. DISTRICT SESSIONS, a) Election of Representatives.

In the second paragraph beginning with “Qualifications for” change the amount of $1,000.00 to $500.00.

Page 10. c.) Expenses, of the Regular Session.

In the last sentence, $1.50 per hour should be changed to $2.50 per hour.

Page 10. Section 36. NATIONAL OFFICERS.

a) Requirements for holding office.

DELETE the words “of Hungarian parentage” from the first sentence of this paragraph

Page 11. d) Travel Expenses and Per Diem.

In the 17th line, change $1.50 to $2.50, so that the sentence should read: Travel over eight hours one way; $2.50 per hour additional.

Page 12. Second paragraph.

Old Text: Only members of the Convention are eligible to be elected President, Vice President, or members of the Board.

New Text: Only members of the Convention are eligible to be elected President, Secretary, Auditor, Treasurer, Vice-President and members of the Board and members of the Auditing Committee.

Page 12. a) Jurisdiction of the Board. (1st paragraph)

Old Text: The Board of Director shall administer the corporate powers of the Association, protect its charter, act as the governing body of the Association when the Convention is not in session, exercise full authority in all matters pertaining to the welfare of the Association, have control of all funds, investments and property of the Association.

New Text: The Board of Directors shall administer the corporate powers of the Association, protect its charter, act as the governing body of the Association when the Convention is not in session, exercise full authority in all matters pertaining to the welfare of the Association, have control of all real and personal property of the Association.

(Second paragraph)

Old Text: The Board has the power to amend or modify any decision of the Convention provided such amendment or modification is approved by a roll call vote and receives a two-thirds majority.

New Text: The Board has the power to amend or modify any decision of the Convention provided such amendment or modification is approved by a unanimous roll call vote.

DELETE the entire third paragraph and insert in its stead, the following:

New Text: The Board shall have the right, should it be deemed advisable, to issue new forms of life insurance and accident and health insurance to provide additional benefits, to increase or decrease the minimum and/or maximum life insurance or accident and health insurance benefits, and insurable ages.

Page 12. a) Jurisdiction of the Board. (5th paragraph)

Old Text: Reinsurance and other important contracts, court litigation, rules for the administration of the Association, rules for handling funds, investigation of Directors and National Officers, suspension of National Officers, temporary appointment of National Officers, appeals, settlement of controversies between bodies of the Association, and Publicity also come within the jurisdiction of the Board.

New Text: Reinsurance and other important contracts, court litigation, rules for the administration of the Association, rules for handling all real and personal property, investigation of Directors and National Officers, suspension of National Officers, temporary appointment of National Officers, appeals, settlement of controversies between bodies of the Assocation, and Publicity also come within the jurisdiction of the Board.

Page 14. Section 41. THE NATIONAL TREASURER.

Old Text: a) The management of all real and personal properties, monies and securities of the Association in accordance with the regulations prescribed by the Board of Directors;

New Text: a) The management of all real and personal properi ties and monies of the Association in accordance with the regulations prescribed by the Board of Directors; except that management of investments shall be within the jurisdiction of the Investment Manager.

b) To be DEI,ETED completely.

c) Will become b).

d) Will become c).

e) To be DELETED completely. v

Section 42. THE AUDITING COMMITTEE.

ADD to the end of paragraph 4, the following: Alternates shall be called on the basis of the hig’hest number of votes received in the election.

Section 43. THE HOME OFFICE, a) Departments.

CHANGE the wording of first paragraph to read as follows:

All affairs of the Association shall be administered by the Home Office upder the direct supervision of the Board of Directors. The Home Office shall be divided into four departments: the President’s Department, the Secretary's Department, the Auditor’s Department and the Treasurer’s Department, and in addition, the Office of Field Manager and Office of Investment Manager. The department heads are the National President, the National Secretary, the National Auditor and the National Treasurer. All four departments and two offices shall function in the Home Office according to the jurisdiction assigned to them in the By-Laws

and according to the rules of administration promulgated by the Board of Directors. They shall be co-ordinated and shall have the necessary personnel

AFTER Section 43. insert two new Sections, Section 44 Investment Manager and Section 45 Field Manager.

Section 44. INVESTMENT MANAGER.

The Investment Manager shall be appointed by the Board cl Directors. The Investment Manager shall be responsible for:

a) Recommendations to the Board of Directors for investment program of Association funds.

b) The buying, selling, exchanging and management of all investments with the approval of the National Treasurer, National Secretary and National Auditor.

c) The Investment Manager shall perform his duties under the jurisdiction of the Board of Directors.

The Bond of the Investment Manager shall be $100,000.00 Section 45. FIELD MANAGER.

The Field Manager shall be appointed by the Board of Directors. The Field Manager shall be responsible for:

a) Directing the promotion of new business.

b) Selecting, training, directing and supervising the activities oi all field men.

c) The Field Manager shall perform his duties under the jurisdiction of the Board of Directors.

The Bond of the Field Manager shall be $10,000.00.

Note! From this point on all Sections, beginning with the Legal Advisor, are to be renumbered consecutively.

Page 18. Section 56. ORGANIZING DISTRICTS. (Second paragraph)

Old Text: The National President shall, subject to the approval of the Board of Directors, appoint a District Manager for each Organizing District.

New Text: The National President shall, upon the recommendation of the Field Manager, and subject to the approval of the Board of Directors, appoint a District Manager for each Organizing District.

Page 22. CHAPTER VII. OTHER PROVISIONS.

Section 65. THE PROPERTY OF THE ASSOCIATION. (1st paragraph)

Old Text: All real and personal property and other assets, whether administered by the National Treasury or Branch treasuries, which are derived from the payment of membership dues, income front funds and investments, bequests, voluntary donations, revenue profits of performances and entertainments, or from any other source by the National Treasury or the Branches, shall constitute the property of the Association.

New Text: All real and personal property and other assets, whether administered by the National Treasury or Branch treasuries, which are derived from the payment of membership dues, investment income, bequests, voluntary donations, revenue profits of perfor-, mances and entertainments, or from any other source by the National Treasury or the Branches, shall constitute the property of the Association.

(Second paragraph).

Old Text: All property of the Association shall be administered in the

name of the William Penn Fraternal Association, both at the Home Office and at the Branches.

New Text: All property of the Association shall be administered in the

name of the William Penn Fraternal Association, both at the Home Office and at the Branches. Nothing contained in these. By-Laws shall be construed to require a separation by funds. Page 22. Section 65 (continued)

a) Management of Property. The property of the Association and all receipts and disbursements of the National Treasury

shall be administered in the following funds: 1) Life Benefit, Fund, 2) Disability Fund, 3) Pension Fund

a) Management of Property. The property of the Association and all receipts and disbursements of the National Treasury

shall be administered, as follows:

1) Life Benefit Department (including Juvenile Section without separate accounting),

2) Disability Department

3.) Employees Pension Plan

The Life Benefit Fund shall be credited with all receipts and shall be charged with all disbursements not specifically assigned to the Disability or Pension Funds

The Life Benefit Department shall be credited with all receipts and other income and shall be charged with all claims, all expenses including the General Administrative Expenses and all other disbursements not specifically assigned to the Disability Department or Employees Pension Plan.

The Disability Fund shall be credited with all receipts and other income from all Disability Contracts and shall be charged with claims and expenses allocated to that fund.

The Disability Department shall be credited with all receipts from all Disability Contracts and other income and shall be charged with claims and all expenses allocated to that Department.

The Pension Fund shall be credited with all contributions and other income and charged with all claims and expenses allocated to that fund.

The Employees Pension Plan shall be credited with all contributions arid other income and shall be charged with all claims and expenses.

In the following paragraph, the second word “funds” is to be changed to “monies” and from this point on, wherever the words “fund or funds” appear, they are to be changed to “Department or Departments”.

Page 23. DELETE the entire first paragraph and replace with,

New Text: The Investment Manager shall buy, sell, or exchange all securities with the approval of the National Treasurer, the National Secretary and the National Auditor. If, however, the Investment

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