William Penn Life, 1979 (14. évfolyam, 1-4. szám)

1979-04-01 / 2. szám

Minutes. . . (Continued from Page 19) Board how a fraternal fund could be created. Mr. Bruce recommends that a fraternal fund be established by transferring a sum each year from the general account. The objective is to eventually set aside a sufficient amount so that the investment income thereon be used for fraternal activities, without impairing the principal. The Board authorized the Executive Committee to set up rules and regula­tions as to how a Branch can qualify for payments from this Fraternal Fund. 15) Following the review of the Minutes of the Executive Committee it was moved, seconded, and the Board accepted the Minutes and ratified the actions of the Executive Committee. 16) The Board commenced review­ing the Report of the National Presi­dent to the Board of Directors dated March 12, 1979. The Board reviewed the Bond and Stock purchases and other investments for 1978. The Board ratified the actions of the Finance Committee. 17) The Board reviewed the Budget for 1979. It was moved, seconded and adopted to accept the proposed budget as outlined in the Report of the Presi­dent to the Board of Directors. 18) Vice President of Membership Services Gus G. Nagy submitted his report of activities for 1978. Mr. Nagy also submitted his report on the forth­coming bowling tournament to be held in Pittsburgh. The Board of Directors acknowledged his report with sincere thanks. 19) Vice President of Marketing Stephen T. Szilagyi submitted his report of activities for 1978. The Board acknowledged Mr. Szilagyi’s report with sincere thanks. 20) The Board of Directors adopted the following Resolution pertaining to dividends for 1979. RESOLUTION Be it resolved by the Board of Direc­tors in regular quarterly meeting assembled this 14th day of March, 1979, that dividends for the calendar year 1979 be declared on those cer­tificates only which are based on the following Mortality Tables: (a) American Men 2 Vi To, issued from Januarv 1, 1949 to June 30, 1956. (b) 1941 C.S.O. 2'/2%, issued from July 1, 1956 to December 31, 1965. (c) 1958 C.S.O. 2>/2%, issued from January 1, 1966 to current date. No dividends were declared on any Term Certificates. The amount of declared dividend shall be that which is contained in the regular dividend tables of the Associaton for the respective cer­tificates. 21) It was moved, seconded and recommended by the Board that the Executive Committee once again review all proposed By-Law amend­ments as previously approved by the Board of Directors and published in William Penn Life. If the Executive Committee finds a need for change, then submit its recommendation to the Board of Directors at the June meeting. 22) The Board of Directors acknowledged receipt of letters of thanks from the following: American Hungarian Foundation; Hungarian Catholic League of America; Branch 226, McKeesport, Pennsylvania; Julia R. Orosz, Garden Of Hungarian Song; Hungarian Ethnic Group of Western Pennsylvania; Jesse K. Klink; Irene Voss, Branch 129, Columbus, Ohio. 23) The Board of Directors acknowledged the receipt of the following requests: Branch 214, Flint, Michigan requests the presence of National Officers or Home Office Representation at their Dinner-Dance to be held June 2, 1979, at which time Illustrious Citations will be presented to Marton Nadasi and Louis Sipos. Branch 189, Alliance, Ohio requests the presence of National Officers or Home Office Representation at their Dinner-Dance to be held'on April 21, 1979. Board resolves that National Presi­dent Charles designate those who are to attend both of these Branch func­tions. 24) The American Hungarian Foun­dation, New Brunswick, New Jersey requests financial support. It was moved, seconded and authorized by the Board of Directors to donate $1,000.00 to the Foundation. 25) Father Paul Bolvary, St. Ann’s Hungarian R. C. Church of Pittsburgh requests donation for renovation of the church. It was moved, seconded and authorized by the Board of Directors to donate $500.00 to the St. Ann’s R. C. Hungarian Church. 26) Branch 8, Johnstown, Pa. in­formed the Board that six names were omitted from the list of persons who received aid as a result of the Johnstown flood. It w seconded and authorized b to donate to these six famil proportionate amount as the previous recipients were awarded. 27) Branch 226, McKeesport, Penn­sylvania requested the presentation of the Illustrious Citation to Louis Seibert, President of Branch 226. This request was approved by the Board. 28) The Board of Directors ap­proved the discontinuance of the Dependent Life Plan as of June 30, 1979. 29) It was moved, seconded and adopted by the Board to accept the Report of the National President to the Board of Directors dated March 12, 1979 in its entirety. 30) Director Sabo commended the National Officers and the entire Home Office staff for the fine performance they have exemplified during the past year. The Association enjoyed another fine and successful year of operation during 1978. 31) Director Lesco presented a very fine film on salesmanship which was enjoyed by everyone present and many valuable points of information were obtained which will be beneficial to the Association’s operation. The Board acknowledged this presentation with sincere thanks and appreciation. 32) National President Elmer Charles thanked each Director for their deliberations, attention and decisions. He hoped we will all continue to work for the improvement of our Associa­tion. He extended best wishes to everyone for a pleasant trip home. 33) The Chairman adjourned the meeting at 12:00 Noon. Respectfully submitted, Frank J. Radvany Secretary of the Board Elmer Charles, Chairman of the Board ATTEST: Albert J. Stelkovics National Secretary-Treasurer co < o ~ o o u> m i-< si- QC rei Cl O' • a a -j c < • o z oc z * a u O -o oc (V < o z m o O X o X Z oo «—t 2 Z -> z OC LU CO a x O' UJ in Z 20

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