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

1982-07-01 / 3. szám

OFFICIAL NOTICE

TO ALL MEMBERS: WILLIAM PENN ASSOCIATION.

RE: CONSOLIDATION AGREEMENT BETWEEN WILLIAM PENN ASSOCIATION AND HUNGARIAN REFORMED FEDERATION OF AMERICA.

You are hereby notified that our Board of Directors has negotiated the terms of a Consolidation Agreement between the William Penn Association and the Hungarian Reformed Federation of America. Sixty days notice is required to be given to the members of each society under the laws of Washington, D.C. and the Commonwealth of Pennsylvania that the Agreement will be considered at Special Conventions of both societies. The text of the Consolidation Agreement is printed in full below for your information and review. It must be approved by a 2/3 vote of the Delegates of both Societies at a Special Convention and then submitted to the Superintendent of Insurance of Washington, D.C. and Insurance Commissioner of Commonwealth of Pennsylvania for their approvals.

If you have any questions pertaining to the Consolidation, submit the same in writing to the Home Office.

William Penn Association 100 Wood Street Building Pittsburgh, Pa. 15222

/Signed/ GUS G. NAGY_____________

Secretary

CONSOLIDATION AGREEMENT

MADE THIS day of , 198 , by

and between the HUNGARIAN REFORMED FEDERATION OF AMERICA, a fraternal benefit society organized and existing under and by virtue of an Act of the Congress of the United States of America in the District of Columbia, on March 2, 1907 with its principal office in Washington, D.C., acting herein by Imre Bertalan, its President, and Elmer E. Vargo, its Vice President-Secretary,

AND

THE WILLIAM PENN ASSOCIATION, a fraternal benefit society organized and existing under and by virtue of the Laws of the Commonwealth of Pennsylvania, on November 29, 1886, and having its principal office and place of business in the City of Pittsburgh, County of Allegheny in said Commonwealth, acting herein by Elmer Charles, its National President and Gus G. Nagy, its National Secretary-Treasurer,

WITNESSETH:

WHEREAS, each of the fraternal benefit societies has gradually grown over the years by careful and economical management of their assets and expanded their activities in a great number of towns, cities and states of our Country which contain Hungarian communities until today they are the two largest American Hungarian Fraternal Benefit Societies in the United States, and

WHEREAS, both Societies draw their membership from approximately the same population group, and

WHEREAS, a consolidation of the two Societies will make possible efficiency in operation and effect great economies in the cost of operating both Societies as one, and

WHEREAS, the Board of Directors of each Society did appoint a Consolidation Committee pursuant to Convention authorization which held joint sessions, established the basis for a consolidation of the two Societies set forth in a Conslidation Agreement which was approved by the respective Boards of the two Societies, and

WHEREAS, the Boards of both Societies deem the terms and conditions of the consolidation hereinafter set forth to be just and equitable to the members of both Societies, and

WHEREAS, the delegates of the Federation in special Convention assembled at Pittsburgh, Pa., and delegates of the Association in special convention assembled at Pittsburgh, Pa., have ratified the proposed Consolidation Agreement and deem it in the best interests of their members to unite the two Societies to better serve the interests of their respective members and through their united strength to create, foster and promote true fraternalism to a greater degree and preserve the Hungarian culture of the Founders of the two organizations and to serve an even wider community in the future, and

WHEREAS, it appears that a consolidation of the operations of the Societies will be to the mutual advantage and benefit of both and that by such a consolidation, a stronger fraternal benefit society will be created and the rights of the members of both Societies will be better secured, and

WHEREAS, it is the intent of the parties to this consolidation that the same be consummated in a just and equitable manner and the necessary adjustments be made so that neither Society nor the members of either Society shall have any advantage over the other and that the consolidation be accomplished in such a manner that the membership rights of the Federation and Association members be safeguarded in every respect and that all members of the consolidation Society in the various categories shall maintain their contract rights and in no event shall have less than their pre-existing contract rights in their respective Societies, and

WHEREAS, the laws of the Commonwealth of Pennsylvania and of the United States of America relating to fraternal benefit Societies authorize and permit a consolidation and prescribe the methods and conditions under which it may be accomplished:

NOT, THEREFORE, in consideration of the foregoing recitals and the mutual promises and covenants herein contained and other valuable considerations hereinafter stated, the Federation and the Association do agree as follows:

1. This Agreement is made pursuant to authority granted the proper Federation Officers in a Resolution duly adopted by the Federation in special Convention assembled