William Penn Life, 1971 (6. évfolyam, 1-4. szám)

1971-08-01 / 3. szám

They shall report their findings and recommenda­tions to the Board of Directors annually« The Auditing Committee shall prepare and render a report to the General Convention« CHAPTER VI NATIONAL OFFICERS AND TERM OF OFFICE SECTION 1. The term of office of all National Officers shall be for four (4) years, which shall commence with the cal­endar year after their election or until his successor shall be appointed and take office« As to Officers retiring, the term of office shall be to date of retirement« The duties of the Officers shall be such as determined by the Board of Directors. Mandatory retirement age for National Offic­ers is Age 65, however, if elected to a term prior to his attained Age 65, he shall be eligible to complete his full term« A National Officer may retire at Age 62 with benefits he would be entitled to if he had remained to Age 65. SECTION 2. NATIONAL PRES IDENT The National President shall be the Chief Execu­tive and Chief Administrative Officer of the Association. He shall be responsible only to the Board of Directors and to such committee or committees of the Board of Di­rectors which such Board shall from time to time desig­nate. All other officers and employees of the Association shall be under his jurisdiction and direction. Subject to the control and direction of the Board of Directors or committees designated by it all activities and operations of the Association shall be under his jurisdiction and direction. The National President shall preside at meetings of the Board of Directors in the absence or inability of the Chairman of the Board; shall call special meetings of the Board at his discretion, or when requested in writing by a majority of the members of the Board. |t shall be his re­sponsibility, in the absence of appointment by the Board of Directors or Executive Committee, to make appoint­ments to such Committees as may be established from time to time by the Board of Directors or Executive Committee, respectively. He shall sign or cause to be signed all membership certificates. He shall perform all duties required of him by the Articles of Incorporation and By-Laws of the Association or which the Board of Directors or Executive Committee may require of him. SECTION 3. VICE PRESIDENTS The National Vice Presidents designated in Chapter IV, Section 4, shall have the same power as the Presi­dent when acting in the absence of or during the disabil­ity or death of the National President, until such time as the Board fills the vacancy. The National Vice Presidents shall perform such duties which the President or the Board of Directors may prescribe. SECTION 4. NATIONAL SECRETARY The National Secretary shall execute and sign, on behalf of the Association, all official documents, con­tracts, deed of conveyance, and other papers necessary for the corporate business of the Association and shall affix the seal wherever necessary, shall transmit no­tices of and maintain official records of corporate meet­ings, Board of Directors Meetings and such other meet­ings as the Board of Directors may from time to time determine and direct; shall exercise the usual duties of a corporate secretarial nature and special reference to the pertinent laws and regulations and with reference to the provisions of the Association's Chapter, Articles of In­corporation and By-Laws. He shall perform such other duties as the National President or the Board of Di­rectors may prescribe. SECTION 5. NATIONAL TREASURER The National Treasurer shall receive and deposit all funds and securities; shall execute all authorized disbursements; shall maintain custody of all funds, securities, and properties belonging to the Association; shall direct the insurance protection of the Association's properties; shall supervise the accounting personnel to insure that proper accounts are maintained relative to the Association's assets. He shall perform such other duties as the National President or the Board of Directors may prescr ibe. CHAPTER VII PROVISIONS APPLICABLE TO BENEFIT CERTIFICATES When a benefit certificate as defined herein does not provide otherwise, or unless prohibited by the law of the state having jurisdiction, the contract, whether issued before or after the date of these amended By-Laws shall be governed by the following specific provisions: a) Upon disaffirmance of a benefit certific­ate by a minor, only the cash surrender value of the certificate shall be payable, and tender of such sum shall be a com­plete discharge of all liability on such contract. b) Payment of any claim under a benefit certificate pursuant to the contract or any assignment thereof without notice to the Society of any alleged conflicting claimant shall be a complete discharge of the obligation for such claim on the certificate or assignment. c) ln case a benefit certificate is lost, destroyed or beyond the member’s con­trol, such member may, on a form furn­ished or approved by the National Sec­retary have a substitute contract issued to him. Fee for such substitute certificate s hall be $2.00. No requested change from the original certificate shall be effective until the date of issuance of the sub­stitute certificate. d ) Beneficiaries. 1 . Every member shall have the right to designate a beneficiary. Except in states specifically naming benefici­aries by statutes, any person or en­tity may be designated as beneficiary. The member has the right to change his beneficiary but only in the manner prescribed by the Association. No beneficiary or other person, except an assignee, shall have any vested inter­est in the benefits for any claim or loss against the Association or the member due to any change in bene­ficiary. If a beneficiary is named contrary to the laws of the state in which the member is admitted, the designation becomes null and void and the share of such persons designated shall be paid to the heirs-at-law of the mem­ber, if any. However, they must prove their claim within two years of the death of the member. In the event the claim is not proven, the death bene­fits shall be payable to the personal representative of the deceased member. 2. Contingent Beneficiaries. Unless contrary to the law of the state in which the member resides, contingent beneficiaries may be named« Death benefits are payable to contin­gent beneficiaries in the event desig­nated principal beneficiaries prede­cease the member. 3. Division of Benefits. Where more than one beneficiary is named, the member shall designate what amounts shall go to each bene­ficiary, otherwise, equal shares shall go to each beneficiary. 15

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