William Penn Life, 1974 (9. évfolyam, 1-4. szám)

1974-10-01 / 4. szám

man Balia now officially calls the meeting to order.

3) The Board of Directors, National Officers and Auditing Committee Members pledged allegiance to the flag of the United States of America. Director Michael Hegedűs offered the invocation in the Hungarian language.

Best wishes from Former National President Julius Macker and Caspar Papp Former Chairman of Auditing Committee for a good meeting are acknowledged by the Board

4) Auditing Committee Member, Michael Hrabar, speaking on behalf of the Auditing Committee extended best wishes to the Board of Directors for a successful meeting.

5) Board Chairman, John P. Balia, excused the Auditing Committee members at this time so they may proceed with their duties.

6) Secretary of the Board, Frank J. Radvany, calls the roll and the following are present:

National President Elmer Charles

Vice Presidents, Louis L. Varga and John P. Balia Directors: Frank Bero, Stephen Danko, Zoltán B. Emri, Michael Hegedűs, Albert G. Kertesz, William C. Kohut, Stephen Lang, Jr., Frank J. Radvany, Joseph Toma, John P. Veszprémi, Jr., Frank

J. Wukovits, Sr.; Albert J. Stelkovics, National Secretary; Julius E. Somogyi, National Treasurer; Gay B. Banes, General Counsel; Dr. Samuel C. Gomory, Medical Director and Gus G. Nagy, Field Assistant to the President.

7) The Agenda is presented to the Board and same is adopted with the understanding that any matter may be added thereto during the course of the meeting:

8) National Secretary, Albert J. Stelkovics, read the Minutes of the Executive Committee Meetings held on September 5 and 6, 1974.

9) Moved, seconded and the Board unanimously adopted the following Resolution pertaining to the Employees’ Pension Plan.

BE IT RESOLVED by the Board of Directors in regular quarterly meeting assembled in Pittsburgh, Pa., that the Association continue each year to make current cost contributions to the Pension Plan, including normal yearly costs and interest on the unfunded portion of the Pension Plan as determined by the Actuary.

10) Moved, seconded and the Board adopted the following Resolution pertaining to the Pension Plan:

NOW BE IT RESOLVED by the Board of Directors, that the matter of protecting Pension Plan against continuous inflation

be kept open, and the Executive Committee make further studies of the various proposals presented by the Actuary and on the basis of these further studies the Board of Directors then submit this to the next General Convention a Resolution.

11) The Board of Directors next heard the semi-annual report of Dr. Samuel C. Gomory. The report was accepted with thanks and ordered to be placed on file.

12) Chairman of the Board, John P. Balia, called upon General Counsel, Gay B. Banes, to submit his report to the Board.Mr. Banes informed the Board that an appeal had been filed with the City of Pittsburgh to reduce the assessment on our property, known as Block “C” and only this Past week the appeal was denied.

Moved, seconded and the Board authorized General Counsel to pursue this matter of reducing the tax assessment, by seeking relief through the Courts.

13) General Counsel also informed the Board that the property of Branch 336, Harrisburg, Pennsylvania has been sold to the Redevelopment Authority and the proceeds of this sale has been placed in escrow at the Home Office for the Harrisburg, Pennsylvania Branch 336.

14) General Counsel, Gay B. Banes, informed the Board on the Progress being made with reference to the American Life litigation. The Board members and National Officers posed many questions to General Counsel about the delay in resolving this matter. A lengthy discussion ensued on this subject. General Counsel assured the Board that he is constantly on top of this matter, however, much more has to be resolved before this matter is concluded.

The Board acknowledged the Report of General Counsel, Gay B. Banes.

15) It was moved, seconded and adopted, that on the basis of an actuarial study made of the Directors and Auditing Committee Members annuity program which was adopted by the 1971 National Convention, it be recommended to the next General Convention that the monthly annuity be increased by the amounts indicated in letter of Actuary dated July 9, 1974.

16) Moved, seconded and the Board proposed to the next General Convention the following By-Law addition:

Chapter 1, Section 9, Page 8: After Point 3, the following be inserted as Point 4.

ASSIGNMENT OF OWNERSHIP Where not prohibited by law, ownership of the membership certificate may be assigned by the insured member.

Upon assignment, Assignee becomes the owner to the extent that he owns and controls the membership certificate, however, Assignee does not become a member, the insured

THE BOARD OF DIRECTORS

of the

WILLIAM PENN FRATERNAL ASSOCIATION announces with profound sorrow the death of

JOHN A. JESO, Branch 150. Uniontown, Pa.

S. Sgt FRANK EARL CHASAR, Branch 302, Hooversville, Pa BELA ROSONSKI, Monroe, Mich.

BÁLINT PETRIK, Branch 16, Perth Amboy, N.J.

STEPHEN SZABÓ Branch 71, Duquesne, Pa.

WILLIAM VOROS

GASPAR PAPP ANDREW HLEBA

MRS. OLGA CARTER BILL SZABÓ

ILLUSTRIOUS MEMBERS of this Association. The Board of Directors in paying final tribute to the memory of our ILLUSTRIOUS MEMBERS, conveys on behalf of the membership of the Association, it's deepest sympathy to the bereaved family.

10