William Penn Life, 1971 (6. évfolyam, 1-4. szám)
1971-08-01 / 3. szám
PROPOSED AMENDMENTS TO THE BY-LAWS In accordance with Chapter VI, Section 62 of the By-Laws the Board of Directors : submit in the following the proposed amendments to the by-laws which were approved upon second reading at the June, 1971 Quarterly Board meeting (See Excerpts of Board Minutes elsewhere in this issue.) The proposed amendments are subject to further consideration by the Board at its August meeting. Final approval for all By-Law amendments will be within the jurisdiction of the 27th National Convention which is the Supreme Governing and Legislative body of the Association. All members are urged to read the proposed amendments whi ch follow: CHAPTER I ASSOCIATION SECTION 1. NAME This Association shall be known and designated as “William Penn Association" (a Fraternal Benefit Society) and shall have the power to frame its own By-Laws, and to amend, or repeal the same as the interest of the Association may require«, SECTION 2. GOVERNING BODY The supreme legislative or governing body to be known as the General Convention, shall be composed of delegates elected through a delegate district system, together with such other members as prescribed in Chapter II of the By-Laws» The Board of Directors shall consist of not less than 7 nor more than 15 Directors to be elected by the General Convention, and in addition, those who are Directors by virtue of their offices., The Officers of the Association shall be a National President, two Vice Presidents, a National Secretary and a National Treasurer, who shall be elected as provided in the By-Laws., The Directors and National Officers shall hold their respective offices until their successors have qualified for the discharge of their duties,, SECTION 3o NATURE OF BUSINESS 1. The business of this Association shall be conducted in accordance with the purposes of fraternal benefit societies, as provided by the laws of the various jurisdictions» 2. To create funds for mutual aid as established by the Board of Directors and as permitted by any body having jurisdiction where the Association is authorized to do business» 3» To preserve the funds from mismanagement and loss by judicious investments» 4. To disburse the funds among the aged, sick members, widows and orphans or designated beneficiaries of deceased members as provided in the membership certificates» 5» To retain and foster in the United (States of America Hungarian culture and heritage as established by the Founding Fathers of the Association» SECTION 4. PLACE OF BUSINESS The principal office of the Association shall be at Pittsburgh, Pennsylvania» Branches may be established, by the Board of Directors, in such localities where the Association has at least fifty (50) members» SECTION 5. FUNDS 1 . The assets of the Association shall be kept upon the books thereof in one fund or in segregated funds as prescribed by the Board of Directors» 2. The premium paid by the members shall include the branch dues and subscription to the Official Publication of the Association» 3. The private or personal property of members of the Association shall be exempt from the corporate debts of the Association» SECTION 6. MAINTENANCE OF SOLVENCY If the Association’s reserves as to all or any class of certificates become impaired, the Board of Directors may require that there shall be paid by the member of the Association the amount of the member's equitable proportion of such deficiency as ascertained by the Board of Directors, and if the payment be not made it shall stand as an indebtedness against the certificate and draw interest not to exceed five per cent per anum compounded annually, or in lieu thereof, or in combination therewith the member may consent to an equivalent reduction in benefits» SECTION 7. TAXES Should any jurisdiction in which this Association is I icensed to do business require the Association to pay any sum as a tax on the receipts of the Association, the Board of Directors may, after the payment of said tax, by resolution, make a levy of the full amount of the tax on the members in such jurisdiction, apportioning such amount in proportion to the premiums of each member« Notice of such payment shall be given by the publication of resolution of the Board in the official publication, and also by notice mailed by the National Secretary of the Association to the members in said jurisdiction» Such publication and notice shall be deemed and held s uffic ient notice thereof to all members within said jurisdiction. If such special payment is not paid to the Association at its Home Office on or before ninety (90) days from the date of issue of the official notice, the amount of such tax shall be charged against any monies due at any time on the certificate of such member, with interest thereon at five per cent per anum compounded annually. SECTION 8. MEMBERSHIP 1 . Admission to membership shall be extended to any person in accordance with the Articles of Incorporation, By-Laws, and Resolutions of the Board of Directors. 2. A benefit member is one who is insured for life, endowment, annuity, disability, hospitalization, major medical benefits or who retain a benefit by virtue of insurance that was originally on his life» 3» An adult benefit member is one who has attained Age 16 or more as defined in his certificate of insurance membership» He shall have the right to vote at meetings of the branch in which he is a member and to hold office unless suchrights are restricted by these By-Laws» 4. A juvenile benefit member is of attained Age 15 or less as defined in his certificate of insurance membership. Application for membership and insurance on behalf of such member may be made by an adult person. Unless otherwise provided by law, a person who applied for insurance membership on behalf of g juvenile shall not, by reason thereof nor by reason of any benefit providing waiver of premiums in the event of disability or death of the applicant, become a benefit member of this Association nor of any branch thereof« Initiation in a branch shall not be required of a juvenile benefit member nor shall he have a voice or vote in the affairs of either a branch or the Association» At attained Age 16 as defined in his insurance certificate, a juvenile benefit member shall become an adult benefit member. 5. A social member is one who is not insured but is admitted to a Branch under rules established by the Board of Directors. Such a member shall have the right to participate in all activities of the branch without a voice and vote in the management of insurance affairs. SECTION 9. EVIDENCE OF MEMBERSHIP 1. A benefit member will receive a certificate of insurance membership. The certificate, together with any 11
