William Penn Life, 1973 (8. évfolyam, 1-4. szám)

1973-04-01 / 2. szám

ratified the actions taken by the Executive Committee.

13. Director Hegedűs, Secretary of the Executive Committee, read the Minutes of the Executive Committee Meeting held on March 18, 1973 in Pittsburgh, Pa. The Board discussed the decisions of the Executive Committee. Moved, seconded, and the Board ratified the actions of the Executive Committee.

14. Director Kertesz moved, Director Toma seconded, and the Board adopted the following resolution pertaining to Accident and Health Insurance Department.

RESOLUTION

WHEREAS, the Board of Directors are desirous of increasing the sales of Hospital and Disability Plans, and

WHEREAS, the Actuary is presently preparing hospital and disability plans which meet the needs of today’s requirements,

NOW, THEREFORE, BE AND IT IS HEREBY RESOLVED by the Board of Directors in regular quarterly meeting assembled in Pittsburgh, Pennsylvania, that commencing July 1, 1973, or as soon thereafter as feasible, the Accident and Health business be separated from the Life Business and an Accident and Health Department be established in the Home Office and in the Field.

15. Moved, seconded, and the Board instructed the Excutive Committee that when considering implementing the new Accident and Health program, they should consider qualified personnel to manage the Sales, Underwriting and Claims Departments as the need arises.

16. President Elmer Charles introduced to the Board Mr. William Kovács, General Agent from Detroit, Michigan who was recently appointed to that position. Mr. Kovács thanked the National President for the opportunity afforded him to address the Board of Directors. He stated he was very pleased to be associated with the William Penn and in his personal opinion the potential for new business in his immediate area is great. He was very enthusiastic and felt that with proper cooperation from the Home Office he could obtain the services of additional agents to assist him in that area. The Board sincerely acknowledged the remarks of Mr. Kovács and wished him much success.

17. President Charles introduced to the Board of Directors Mr. Joseph Lichtmann, Branch 19, New Brunswick, New Jersey, who was recently appointed General Agent for that area. Mr. Lichtmann thanked Mr. Charles for the opportunity to address the Bejárd. Mr. Lichtmann expressed to the Board that with the change in the modern world he felt that William Penn should review its portfolio of policies and suggested the Association consider introducing newer type policies in the A & H area, Term Insurance, Disability Income Policies and policies tied

in with Retirement Income. He felt that our policy rates should be comparable to those of other companies. Many of the Board members posed certain questions to Mr. Lichtmann for his views and opinion. Following a lengthy discussion with Mr. Lichtmann, the Board acknowledged the remarks of Mr. Lichtmann and thanked him for appearing before the Board.

18. Vice President Louis L. Varga introduced Mr. Andrew R. Balogh of Bridgeport, Connecticut, Field Manager (East), and called upon him to submit to the Board his report. Mr. Balogh thanked the Board for the opportunity of appearing before them and thanked the Board members and National Officers for the many courtesies extended to him this past year. Although 1972 did not measure up quite to his expectations, Mr. Balogh was confident that 1973 will be a much better year for him and William Penn. Mr. Balogh suggested various points to the Board which in his opinion will help to recruit new agents for William Penn. Following a lengthy discussion with Mr. Balogh, the Board acknowledged and accepted his report with sincere thanks and appreciation the remarks made by the Field Manager.

19. President Charles introduced Mr. Gus G. Nagy, Field Manager (Central). Mr. Nagy read his report of operation in his area for 1972. A lengthy discussion ensued on his report and the Board acknowledged and accepted his report with sincere appreciation.

20. Moved, seconded and the Board authorized the Executive Committee, National Officers and Actuary to convene a meeting as soon as possible for the purpose of reviewing all the matters discussed by the Board of Directors and Field Managers pertaining to our Field Operation. This would include new products development, rates and prepare a new field program which would be immediately instituted. Should any questions arise pertaining to this subject it shall be submitted to the Board of Directors at the June meeting for final disposition.

21. National Secretary Albert J. Stelkovics commenced reading a very lengthy transcript of the Merger Commission hearing in Columbus, Ohio re legal proceedings which are presently taking place in connection with the American Fund litigation.

22. Moved, seconded, and the Board accepted the Report of the National President to the Board of Directors dated March 19, 1973 in its entirety.

23. Moved, seconded, and the Board accepted the report submitted by General Counsel Banes.

24. Director Kertesz, Bowling Tournament Administrator, submitted a report regarding the forthcoming 1973 Bowling Tournament and Scholarship Days to be held in Cleveland, Ohio. He informed the Board that plans are almost complete

possibly one more meeting in Cleveland will finalize all the plans prepared. He extended a cordial invitation to the Board and to the membership to attend this affair and feels it will be a huge success. The Board accepted the report of the Bowling Tournament Administrator.

25. Moved, seconded, and the Board authorized that in recognition of the many years of loyal and faithful fraternal services rendered by the late Director Dr. Andrew Kovács to the William Penn Association, and for his services as Director of the Scholarship Loan Fund for many years, a portrait of Dr. Kovács be presented to his widow at the Scholarship Days banquet in Cleveland, Ohio as a tribute to his memory.

26. Director John Sabo, President of the Scholarship Foundation, thanked the Board of Directors, Auditing Committee, National Officers, representatives of all the Branches in the Greater Pittsburgh area, and the membership at large who attended the First Annual Tri-State Scholarship Ball held at the William Penn Hotel on Saturday, March 17, 1973. Despite the inclement weather, the affair was a huge financial and social success. He thanked the various Committees who worked so diligently. The Committee received numerous cash donations. A donation of one hundred dollars ($100) was received from Mrs. Violet Lenart in memory of former Vice President Julius J. Lenart. Director Sabo submitted a report pertaining to the Scholarship Foundation. Moved, seconded, and the Board accepted the Report of the Scholarship Foundation President with sincere thanks and appreciation.

27. Director Toma moved, Director Lang seconded, and the Board adopted the following resolution pertaining to salaries of full time Home Office Employees.

RESOLUTION RESOLVED, by the Board of Directors in regular quarterly meeting assembled in Pittsburgh, Pennsylvania, this 21st day of March, 1973, that all full time Home Office Employees with one or more years of service be granted a three (3) Step Rate increase in their salaries, based upon the Salary Plan adopted by the Board of Directors in March, 1970. Increase to become effective April 1, 1973.

28. Moved, seconded, and the Board adopted the following resolution pertaining to dividends.

RESOLUTION BE IT RESOLVED, by the Board of Directors in regular quarterly meeting assembled this 21st day of March, 1973, that Dividends for the calendar year 1973 be declared on those certificates only which are based on the following Mortality Tables:

a) American Men 2%% issued from January 1, 1949 to June 30, 1956.

b) 1941 C. S. O. 21/2% issued from July 1, 1956 to December 31, 1965.

c) 1958 C. S. 0. issued from Janu-