Verhovayak Lapja, 1955 (38. évfolyam, 1-12. szám)
1955 / Verhovay Journal
PAGE 14 Verhovay Journal November 16, 1955. Managei’ should find it necessary to sell securities below the purchase price to safeguard the assets of the Association, he must secure the consent of the members of the Financial Committee of the Board of Directors and the four National Officers. In such instances, the Investmen Manager shall submit his reasons for the sale, after the transaction, to the Board of Directors. (Second paragraph — second line) “National Treasurer” to be changed to “Investment Managet”. Page 23. Section 66. MEMBERSHIP AND OTHER DUES. — Under 1) For the Branch ; In the third line of sub-paragraph a) DELETE the words “the administration fund of”. Under 2) For the National Treasury: The last words of both sub-paragraphs a) and b) which is “Fund” should be changed to “Department” in both cases. After the conclusion of the point by point discussion of the proposed bylaws, Vice President Macker makes a motion, which is duly seconded, that the above corrections, deletions and changes to the proposed bylaws be approved. The motion is unanimously carried. 133. Albert Stelkovics, Rákóczi Supreme Secretary, appears at the Verhovay Convention and reports that the Rákóczi Convention has concluded its point by point discussion of the proposed bylaws and has accepted all provisions with the exception of five. The five recommendations for changes shall be turned over to the Merger. Committee for further discussion. 134. After the above matters are acknowledged by the Convention, the Chairman adjourns the meeting at 7:05 P.M. until tomorrow at 9:00 A.M. FRANK ' RADVANY JULIUS J. LENART Chairman Secretary FRANK DUDASH STEPHEN DANKO CONTINUED MINUTES taken on the sixth day of the XXIII National Convention of the Verhovay Fraternal Insurance Association, on Saturday, September 17, 1955, in the Urban Room, later in the Allegheny Room, of the William Penn Hotel, Pittsburgh, Pennsylvania. 135. Chairman Frank Radvany calls the meeting to order at 9:00 A.M. and orders the recitation of the Pledge to the Flag. 136. The Convention Secretary reads the roll and reports that all the delegates are present. 137. The Chairman appoints Frank Dudash and Stephen Danko to follow the reading of the previous day’s minutes and to certify to its correctness as read. The Convention unanimously accepts the previous day’s minutes as read. 138. Anthony Knefely makes a motion, which is duly seconded, that the Convention instruct the new Board of Directors to hold a membership contest in the future for the delegates. The motiop is unanimously carried. 139. Stephen Matasy reports that in reading over the Merger Agreement a number of times he notes some errors which may later cause misunderstanding. The Convention turns this matter over to legal counsel for correction, if necessary, in view of the fact that this pertains to legal questions. 140. Vice President Julius Macker makes the motion, which is duly seconded, that the Convention, in order to save time, nominate candidates for the Board of Directors. From these nominations the Home Office will prepare a ballot which vili be used for the voting. The Convention accepts the proposal and the delegates are asked to make their nominations. The following are nominated: John Balia, Frank Balogh, Sr., John Bokor, Moses Csömör, Louis David, Aloysius C. Falnssy, Henry Gross, Alexander Gyulay, Joseph Heck, Stephen Houser, Albert Ibos, John P. Kelemen, James Készéi, Coloman Kolozsvary, Mike Korosy, John Kostyo, Dr. Andrew Kovács, Stephen Lang, Sr., Julius J. Lenart, Julius Macker, John Matanyi, John Mokri, Jr., Frank J. Molnár, Sr., Stephen Nyers, Sr., Mrs. John Pocsik, Michael Puskas, James Radi, Frank Radvany, Joseph Szalay, Stephen Szekely, Joseph S. Taylor, George Tokai, Jr., Louis Vassy, Louis Vizi, John Vizzi, Julius Wank, William C. Kohut, John J. Inglesby, Edward Torda, Joseph Semetko, Joseph Hodits, Andrew Szladics, Stephen Matasy and John Demko. Delegates Kohut, Inglesby, Torda, Semetko, Hodits, Szladics, Matasy and Demko decline the nominations. 36 nominations remain, this number being acknowledged by the Convention. 141. National Secretary Revesz reads the Board of Directors recommendation in "which it suggests that, in the election of the members of the Board, the election be on an at-large basis and not by districts. After a brief debate, the recommendation is unanimously accepted. 142. Chairman Radvany calls upon Vice President Macker, after a motion which is duly seconded is accented, to invite the Rákóczi Convention Delegates to appear en masse at our Convention. 143. After a few minutes’ intermission, the entire delegation of the Rákóczi Convention enters. The Verhovay delegates greet them by a standing ovation. Albert Kocsis, Rákóczi President, Joseph Vasas, former Rákóczi Supreme Secretary, as well as National President John Bencze and Vice President Julius Macker, in heartfelt speeches greet the significant gathering and express their wishes that the new William Penn Fraternal Association will bo made great and strong by the union of the two parent organizations. 144. Two resolutions for proposed bylaw changes are presented in connection with the actions taken as expressed in points 129 and 130. Upon motion made by Alexander Chobody, and seconded by Michael Simo, the resolutions as written below are unanimously approved by the Convention: RESOLUTION RESOLVED that, whereas the Verhovay in Convention assembled at Pittsburgh, Pennsylvania has read and debated by-law amendments and proposed by-law amendments, ajid WHEREAS, it is considered opinion that the by-laws amendments are needed for the continued growth of the Association; NOW, THEREFORE be and it is hereby resolved that the following by-law amendments and proposed by-law amendments, reading: 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 of all field men. c. The Field Manager shall perform his duties under the jurisdiction of the Board of Directors, be and they are hereby adopted. BE IT FURTHER RFSOLVED THAT other sections be and they are hereby amended by adding thereto and inserting in the appropiate places the phrase “Field Manager.” BE IT FURTHER RESOLVED that the Board of Directors and Officers are authorized to make any necessary changes not material in form in said by-laws to resolve conflicts. RESOLUTION BE IT RESOLVED that the following by-law amendment be adopted: INVESTMENT MANAGER. The Investment Manager shall be appointed by the Board of Directors. The Investment Manager shall be responsible for. a. Recommendations to the Board of Directors for investment programs 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. BE IT FURTHER RESOLVED that other sections be and they are hereby amended by adding thereto and inserting in the appropriate places the phrase “Investment Manager.” BE IT FURTHER RESOLVED that the Board of Directors and Officers are authorized to delete appropriate sections of the by-laws to resolve any conflicts with the duties of the Investment Manager above outlined. The Convention further approves and resolves that the proper Verhovay officers be directed to forward all Convention-proposed bylaw amendments to the branches for final adoption by resolution. The Convention further approves and resolves that the Board of Director13 and the Merger Committee be authorized to make any necessary changes not material in form in the bylaws, to resolve any conflict. 145. The delegates by districts make known the requests of their districts: For paid-up life certificates for old members, taking into consideration their attained ages and periods of membership: 1-B, 2-B, 4, 8, 8-C, 10, 11-B, 12-C, 12-D, 17-E, IP, 19-B, 21, 23. 24 and 27. 146. The payment of dividends to old members: 1-B, 2, 4, 5-B, 10, 11, 17-D, 19, 19-B, 20, 26-C and 30. 147. John Zakopcsan requests that the new Board of Directors take into consideration the following: a. Permit the issuance of membership certificates in the amounts of $250 and $750: b. The names of the paid-up members be listed on the branch monthly reports: c. Part time o ranch managers be considered for Pension Fund participation. 148. Stephen Borovich expresses his opinion that there should be no increase in the 5 cent branch fee. 149. National Auditor Sabo requests the Convention, in regard to points 145 and 146, to instruct the Board of Directors to have the National Officers and the Actuary make a study, after which they should report their findings to the Board. Lrpon motion made and duly seconded, the Convention unanimously adopts the above. 150. Joseph Hegedűs, 18th district delegate, requests that for the heating and lighting of the Cleveland district office the Convention vote $50.00 per month. After a brief debate, the Convention approves monthly reimbursement of $25.00 to Branch 14, Cleveland, Ohio. 151. The Chairman recesses the meeting at 1:10 P.M. for lunch. Í52. Immediately after the lunch hour, Chairman Radvany introduces Bela Bachkai, Secretary of the American Hungarian Federation. In his brief address Mr. Bachkai gives thanks to the Association for its past contributions and expresses his wish that the new organization will be even larger by the time of the next Convention. He further expresses the hope that we keep in mind the importance of belonging to and supporting the organization that binds Hungarians everywhere. 153. John P. Kelemen makes a motion, which is duly seconded, that the Merger Committee’s three Board members, Vice President Julius Macker, Director Aloysius C. Falussy and Director Stephen Lang, each be given $500 for their unselfish and untiring work. Vice President Macker, and Director Falussy in short speeches notify the Convention that they are not seeking such an award, but if the Convention would approve each an award, the three Merger Committee members would contribute the full amount to our welfare fund for the benefit of the aged. The motion is canned. 154. In the name of the three Board members of the Merger Committee, Director Falussy thanks the Convention for the $500 granted each member and reasserts the intention of each to contribute the full amount to the Association’s welfare fund for the aged. 155. National Secretary Revesz reads the recommendation of the Board of Directors pertaining to the annual salaries recommended for the following officers: National President $12,000 National Secretary 11,000 National Treasurer 11,000 National Auditor 11,000 Annual Honorarium for the Board Members $600 each Annual Honorarium for the Auditing Committee Members 400 each Legal Adviser 3,000 Chief Medical Adviser 3,500 The above recommendations are discussed at length. The following modifications are suggested and accepted: Upon the motion of John Balia, which is duly seconded, the Convention decides that the salaries of all four National Officers be uniform. The motion of Stephen Danko, which is duly seconded, to set the salaries of the National Officers at $12,000 each, is unanimously accepted. -Valentine Konyha, Jr. moyes, and it is duly seconded, that the annual honorarium of the members of the Board of Directors be $600 each. The motion is carried. Joseph S. Taylor moves, and it is duly seconded, that the annual honorarium of the members of the Auditing Committee be $600 each. The motion is carried.
