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

1971-11-01 / 4. szám

NOW, THEREFORE, BE AND IT IS HEREBY RESOLVED by the General Convention in regular meeting assembled in Pitts­burgh, Pennsylvania this 14th day of September, 1971 that com­mencing January 1, 1972, the Association donate to the American Hungarian Studies Foundation $600.00 annually and to the Ameri­can Hungarian Federation $600.00 per anum» BE IT FURTHER RESOLVED that the Association con­tribute $1,500.00 annually to the William Penn Scholarship Found­ation, Inco The foregoing amounts to be paid in one sum each year.. 54» American Fund is the next item on the Agenda» Motion is made and seconded that the Resolution prepared by the Board of Directors be adopted» A lengthy discussion ensues» Question is asked as to how long the $600 Consultant Fee is to be paid to Mr» Segedy» The Convention is informed that in accord­ance with the agreement it is to be paid until such time as the William Penn Fraternal Association acquires the American Fund and the merger of American Life is consummated, or if the Con­vention would terminate it now that would be it« An amendment was proposed that with the closing of this Convention, the $600.00 monthly payment to Mr« Segedy be dis continued» Chairman rules the amendment to be out of order» Motion is then made by Delegate Stephen J0 Danko to appeal the ruling of the Chair» The motion to appeal is defeated by a vote of 82 — 22» An amendment was then proposed to limit total expenditures for the American Life merger to $200,000.00. This amendment was also ruled to be out of order» The original motion is now put to a vote and the following Resolution is adopted by a vote of 116— 23» RESOLUTION RESOLVED THAT, whereas the Convention has heretofore authorized the Board to support litigation in the States of Ohio and Connecticut to recover the assets of the American Life In­surance Association, and WHEREAS, the 1967 Convention also authorized the Board and Officers to seek mergers with Sister Societies, and WHEREAS, the Board negotiated the terms of a merger with the American Life Insurance Association, and by Resolution a­­pproved and ratified by a mail referendum of the 1967 Convention Delegates who authorized the execution of the merger agreement, and WHEREAS, the Convention has heard and debated the Report of the Board on its work and activities involved in the litigation and the merger, and NOW, THEREFORE, BE IT RESOLVED by the 1971 Conven­tion of the William Penn Fraternal Association in regular meeting assembled that it does hereby ratify, confirm and approve and adopt the Report and activities of the Board in the matter of the American Fund, including the expenditures and expenses in­curred» RESOLVED FURTHER that this regular session of the William Penn Convention take cognizance of the approval of the merger agreement between the American Life and William Penn and it does confirm and ratify the said merger agreement in the Report of the Board of Directors» RESOLVED FURTHER that this Convention calls upon the Pennsylvania Insurance Department to approve said merger» BE IT FURTHER RESOLVED that the Board and the Nation­al Officers be and they are hereby authorized and directed to con­tinue their efforts and make the necessary expenditures to ac­quire the American Fund and consummate the merger» 55» Chairman Charles recesses the meeting for luncheon period at 1:00 P„M„ 56. The meeting is reconvened at 2:45 P»M„ and the same are pre­sent» 57» it is announced that buses will leave at 6:30 and 7:30 PUM» from the Hotel to Hazelwood» 58» Mr» John Bencze, retired, and Honorary President of the Association appears before the Convention and is greeted with a standing ovation and thunderous applause» Mr» Bencze is es­corted to the podium by Vice Presidents, John P0 Balia and Louis L» Varga» Chairman Charles in welcoming Mr» Bencze to this Convention recites the many accomplishments attributable to Mr» Bencze in furthering the growth and prosperity of our Asso­ciation» Mr» Bencze, in an emotion f illed greeting, thanks theCon- Convention for inviting him and is happy that he could be pre­sent» He relates that in all his years as President two things are most memorable, namely that under his Presidency the Verhovay reached the largest membership in history and the Rakoczi- V erhovay merger was consummated» He wishes God’s blessing on all and departs» 59» Earlier, at the morning session, certain questions were asked regarding American Life Membership, assets, investments, insurance in force, etc» The questions are now answered by Mr» Robert E» Bruce, using figures from the American Fund Annual Statement as of December 31, 1970» He also read a letter which he submitted to the Insurance Departments, showing that the merg­er would be actuarily sound» The Convention acknowledges the information» 60» The St» Stephen’s merger is acknowledged and the Conven­tion expresses the desire to have more of these mergers» it is also acknowledged that Directors Frank J„ Radvany, Michael Hegedűs and Auditing Committee Member, Zoltán B» Emri, assist­ed immeasurably in bringing about this merger» 61» The Financial Statistics are read and several pertinent questions were asked which were answered to the satisfaction of all» This portion of the report is then adopted» 62» The Field Operation portion of the report is read in its entirety and will be discussed Wednesday» 63» Chairman Charles recesses the meeting at 4:30 P0M» 64. Chairman Charles reconvenes the meeting on Wednesday, September 15, 1971 at 9:00 A»M» and the same are present» He thanks Delegate Michael Kara and all who helped make last evenings social gathering a success» 65» Delegates John Juhasz and William J0 Kovach are appointed to certify the minutes of Monday’s session» 6 6» Roll is called and all are present except Imre Geosits, Pennsylvania District # 9. 67. Minutes on Tuesday's Meeting are read and accepted as corrected» 68» The Convention commences detailed discussions of the Field and Agency Operation of the Board Report» Many pertinent questions were posed to which satisfactory answers were provided» The matter of production was discussed at length and the many problems involved in recruiting proper sales personnel» The Agency system of operation was thoroughly explained as was the employing of outside agencies who specialize in selling one certain plan of insurance» It is moved, seconded and adopted that the Field and Agency Operation portion of the Report be adopted» 69» The following telegram is received from the White House: ‘‘My warmest greetings to the 27th Quadrennial Convention of the William Penn Fraternal Association and my congratulations to your dedicated members on the many worthy endeavors you spon­sor and support» Your patriotism and unstinting devotion to the weil being of our Society deserves special admiration and gratitude of the many citizens who daily benefit from your work» May you have a successful meeting»” . . ... Richard Nixon The Convention gratefully appreciates the warm greetings from the President of the United States of America» 70» It is resolved by the Convention that President Nixon be sent a letter of thanks and greetings» It is further resolved that a letter of appreciation be sent to Milton J» Shapp, Governor of Pennsylvania» Delegates Edward Behuncik and Jacob Meilitz and General Counsel Banes are requested to prepare the etter» 71» It is resolved by the Convention that a delegate be per­mitted to speak no more than five minutes on any one subject mat­ter» 72» The Convention discusses the production results and Com­parative Data portion of the Board Report» After several points therein have been explained that portion of the Report i s adopted» 73» That portion of the Report pertaining to By-Laws is adopted unanimously» 74» A motion is made and seconded that the Report of the Board of Directors to the 27th National Convention having been read and adopted in sections is now approved in its entirety» 10

Next

/
  • Layout
  • Zoom
  • Rotation
Thumbnails
Contents