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

1971-08-01 / 3. szám

In the event one of the designated beneficiaries dies, his share of the benefits shall be divided among the surviving designated beneficiaries in equal shares» 4. Precedent Death of All Beneficiaries» If none of the beneficiaries named in the certificate shall survive the mem­ber, the death benefit shall be paid to the surviving spouse; if none, to the surviving children equally; if none, to the personal representative of the de­ceased member» 5. Death By the Hand of a Beneficiary» If a member dies by the hand of a beneficiary, unless by accident, whether sane or insane, such bene­ficiary shall not be entitled to any pay­ment and his share of the death bene­fit shall be paid in accordance with the rules established for predeceased benef i c i arie s» 6. Change of Beneficiary» A member may change his beneficiar­ies at any time, but only on a form prescribed and furnished by or accept­able to the Association» Such form, properly filled out and accompanied by the membership certificate when re­quested, must be sent to the Home Office» The National Secretary shall endorse the name or names of the new beneficiary or beneficiaries upon the certificate of ihe member, or may issue a substitute certificate to him, subject to the same conditions as the one surrendered but containing the name or names of the newly designated beneficiary or beneficiaries» Such change shall take effect as of the date of request, but without prejudice to the Association by reason of any payment made under the contract prior to the receipt of the requested change at its Home Office» No change of beneficiary shall be allowed or be binding which is not requested in writing as herein provided» No change of beneficiary request shall be con­sidered which is received at the Home Office after the death of the member» 7. Divorced Mates» Divorced mates shall have no claim to any benefits as provided by the applic­able laws of the jurisdiction where the member resided» If no other bene­ficiaries have been designated, then the same rules as hold for predeceased beneficiaries shall apply» 8. Payments to Minors» Where authorized by law, any minor who has attained the age of 18 years, shall be deemed competent to receive and to give full acquittance and dis­charge for a payment in an amount not exceeding $2,000.00 due him as bene­ficiary or as maturity value of an en­dowment certificate» No minor shall be deemed competent to alienate the right to the payment, or to anticipate same» 9. Funera’ Expenses» The Association shall have the right to pay out of the proceeds of the mem­bership certificate a sum not to exceed $500.00 towards Funeral Expenses of the deceased member» Application must be made before payment of the death benefit by any person equitably entitled thereto by reason of having incurred burial expenses of the member» e) Premium Payments» Payments shall be due in accordance with the provisions of the contract and B y-Laws» The- mode and time of dues payments shall be established from time to time by the Board of Directors« Should the member die any time during the first year of membership there shall be an indebtedness to the Association for the unpaid portion of a full first year’s premium and the sum of such in­debtedness shall be deducted from the claim settlement» CHAPTER VIII RESTRICTIONS OF AUTHORITY No agent or solicitor and no branch or its officers or members shall have authority to obligate the Association for the payment of any money by note, endorsement, con­­tract or agreement of any kind, or to waive any terms of the certificates, Articles of Incorporation, or By-Laws» In the event that any officer, agent or s ol ic itor o f th is Association shall attempt to make any contract or stipu­lation whereby anything is promised to be performed con­trary to the Articles of Incorporation, By-Laws, or the certificate of membership, such promise, contract, or stipulation shall be void and of no effect» Only such modifications of benefits as shall be duly authorized by the Association and attested to by the National Presi­dent or the National Secretary of the Association shall be valid» CHAPTER IX OFFICIAL PUBLICATION The Association shall publish an official organ» Any notice to the members or officers of th^e Association, including the notice of election or change in the Articles of Incorporation, may be made therein, and such notice, provided it be given within sufficient time, shall have the same effect as though given personally in writing» The mailing of such official organ to the last known ad­dress of any member shall be sufficient service of such notice to him» An affidavit by the National Secretary of the Association certifying that such official publication was mailed to each member on the mailing list shall be submitted to the Board of Directors at their next meeting after publication of such notice» CHAPTER X FISCAL YEAR The fiscal year of the Association shall begin on the first day of January and end on the thirty-first day of December annually, and the annual statement of the transactions of each fiscal year shall be prepared and published within ninety (90) days after the termination of said fiscal year» CHAPTER XI BRANCHES SECTION 1. Branches shall be created and maintained to provide members with the opportunity to take part in fraternal and benevolent activities; to share in programs of fellowship, sociability, and responsibility; to share in a democratic form of government»

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