William Penn Life, 1982 (17. évfolyam, 1-4. szám)

1982-01-01 / 1. szám

tion of the William Penn Association and its plans for the future of its operation. He also reviewed the Flexible Annuity Plan. A lengthy discussion ensued on this topic.

It was moved, seconded and adopted by the Board that Actuary Robert E. Bruce, Mr. Richard Smith and the Field Committee review and study this program and any other new products. The Field Committee was authorized to act on these programs.

40) Mr. Charles informed the Board that it is time to meet with the Board of Directors of the Hungarian Reformed Federation in joint session and he recessed the Board Meeting at 10:45 A.M.

41) Chairman Elmer Charles reconvened the meeting of the William Penn Association Board of Directors at 2:30 P.M. following a joint meeting of the Board of Directors of the two societies. At this joint meeting, the two Boards of Directors once again reviewed the Consolidation Agreement. President Imre Bertalan, stated they would prefer that their Board of Directors go into their meeting once again so they may reveiw and discuss the Consolidation Agreement.

42) The Board of Directors ensued on a lengthy discussion regarding the progress being made in the consolidation of the two societies. During these discussions, word was received from the Board of Directors of the Hungarian Reformed Federation that President Imre Bertalan, along with delegates of their Board would like to meet with the William Penn Association Board.

43) Upon their arrival, President Charles welcomed President Bertalan and his delegation to the William Penn Board Meeting.

44) President Imre Bertalan of the Hungarian Reformed Federation informed the Board of Directors of the William Penn Association that the Hungarian Reformed Federation Board of Directors unanimously accepted the Consolidation Agreement and he requested Vice President- Secretary, Elmer Vargo to read the following Resolution which was signed by each Officer and Director.

RESOLUTION

HUNGARIAN REFORMED FEDERATION OF AMERICA

Resolved by the Board of the Hungarian Reformed Federation of

Minutes . . .

America in special meeting assembled, that

WHEREAS, it has read and deliberated the form of Agreement negotiated by the Consolidation Committee, and

WHEREAS, the Board is convinced that the terms of the Agreement with minor suggested changes are just and equitable and that a Consolidated Society will better serve the interests and needs of our combined membership by creating a greater, stronger society which is of paramount importance to remain competitive in our changing world, and

WHEREAS, a larger Society will not only allow us to furnish more services to our members but will give us greater fraternal strength to promote our American-Hungarian heritage in our country and throughout the world.

NOW THEREFORE, BE IT RESOLVED by the Board in meeting assembled that the form of Consolidation Agreement as negotiated, amended, re drafted and read at this meeting is approved and incorporated herein by reference; resolved further that the Joint Committee is authorized to complete the proposed by-laws and charter and present the same at the Spring Board meeting for approval; resolved further that at such meeting, provided the by-laws are approved; the Board fix the date, time and place and call a Special Convention into session to consider the Consolidation of the two societies.

45) Mr. Charles sincerely thanked the Officers and Board Members of the Hungarian Reformed Federation on behalf of the National Officers and Directors of the William Penn Association. This was a history making decision and this day will go down in history of both organizations as a start for greater things to come for the members of both societies.

46) Since this was such a momentus occasion, Director Sabo requested that President Bertalan offer a prayer of Thanksgiving and the members present sing the two National Anthems.

47) The following prayer was offered by Reverend Bertalan.

"Our Heavenly Father, we thank you for this beautiful season of the year, in this gift giving time. We are mindful of you that you have given

so many gifts to us individually and to our community throughout the ninety-five or eighty-five years. We feel that you, Heavenly Father, are reaching out your hand with a beautiful gift and enable us to accept it from your hand. Our two Boards did excellent work. We ended our meeting in complete agreement, help us to carry this on to the field and to the members of our organizations. Make them understand that it is meant by you and by us nothing but a gift and happiness for those who are entrusted to our care. We pray for each and every member of this Board for good health and strength for all of us as we now turn homeward; help us from the treacherous road; help us in the weeks to come; help us to meet again in committee or as a Board and bless the wonderful people who worked on this great goal and help those wonderful people for whom it is meant. Bless us with joy and happiness in this season."

Amen.

48) The members sang the American and Hungarian National Anthems.

The Chairman, Mr. Charles, recessed the meeting at 4:00 P.M. until 9:00 A.M. Thursday.

50) Mr. Charles reconvened the meeting at 9:00 A.M. Directors Zoltán Emri and Michael Hegedűs were excused from the meeting today.

51) Secretary, Frank J. Radvany read the Minutes of Tuesday's, Wednesday's and the Joint Board Meeting of the William Penn Association and the Hungarian Reformed Federation.

It was moved, seconded and accepted as corrected with sincere thanks and appreciation.

52) The Board of Directors adopted the following Resolution:

RESOLVED BY THE BOARD OF DIRECTORS this 17th day of December 1981, that all annuity deposits on or after January 1, 1982, shall be credited with a guaranteed interest of 4%, plus an excess interest rate of 8% for a total of 12%. This rate to remain in effect until revoked by the Board of Directors.

53) Mr. Richard Smith concluded his talk on the Field Operation of the William Penn Association.

54) It was moved, seconded and authorized by the Board that the

31