William Penn Life, 2007 (42. évfolyam, 1-12. szám)
2007 / Különszám
The By-Laws ARTICLE 25-AUTHORITY All matters not specifically covered in these By-Laws shall be decided by a majority of a quorum of the Board, • and such decisions shall be final. <* ARTICLE 26-DEFINITIONS 1. Act: The Pennsylvania Fraternal Benefit Society Code of 1992,40 P.S. 1142-101, et seq., as amended. 2. Advisors: Those officers and other appointees described in Section 308.2 of these By-Laws, together with the National Advisory Committee, and such persons, firms or corporations engaged or retained by the Board or with Board approval, to consult with and make recommendations regarding decisions, actions or conduct with respect to matters concerning the Association and its business. 3. Affiliate: Any entity owned or administered, in whole or in part, directly or indirectly, by the Association or the Branch. 4. Agency Manager: A person who represents the Association exclusively and is in charge of a local office and the supervision of Sales Agents under his or her jurisdiction. 5. Association: William Penn Association. 6. Benefit Certificate: The official printed document of the Association evidencing the rights and responsibilities of an insured or annuitant pursuant to a contract of insurance or an annuity. 7. Board: The Board of Directors of the Association. 8. Branch: A separate but dependent local division or lodge of the Association. 9. Branch Officers: Those officers elected by the Branches. 10. By-Laws: The By-Laws of the Association, as duly amended from time to time. 11. Certificate of Life Membership: The official printed document of the Association evidencing life, endowment or annuity benefits written by the Association in favor of the person named therein. 12. Charter: The Charter or Articles of Incorporation, as amended, of the Association as filed with the Secretary of the Commonwealth of Pennsylvania. 13. Directors: The National Directors of the Board. 14. District Office Employee: A person who is employed in a sales office of the Association other than at the Home Office. 15. General Convention: The highest legislative or governing body of the Association, composed of both Delegates elected as provided in these By-Laws and certain ex-officio Delegates. 16. Home Office: The national headquarters of the Association. 17. Insurable interest: An insurable interest in accordance with applicable laws and regulations. 18. Life Benefit Member: One who is insured for life or endowment benefits (but not under an annuity plan) by the Association, as evidenced by one or more Certificate(s) of Life Membership issued by the Association. (a) Adult Life Benefit Member - any person admitted to benefit membership who has attained the age of sixteen (16) years or more, as specified in said member's Certificate(s) of Life membership. (b) Juvenile Life Benefit Member - any person admitted to benefit membership who has not attained the age of sixteen (16) years, as specified in said member's Certificate(s) of Life Membership. 19. Lodge System: Any alliance, fellowship or society having a structure or organization of a supreme legislative body and subordinate lodges or branches, into which members are elected, initiated or admitted in accordance with its constitution, laws, rituals or rules; and which subordinate lodges or branches are required by the laws of the society or fellowship to hold regular meetings. 20. Member: A Member of the Association as determined pursuant to Section 107 of the By-Laws. 21. National Officers: Those Officers elected by the Board. 22. Sales Agent: Any agent working under contract with the Association, including the following: (a) Full-Time Agent: an agent who sells exclusively for the Association. (b) General Agent: an agent who represents the Association but may represent one or more additional insurance carriers. (c) Special Agent or Representative: an agent who sells insurance or annuities exclusively for the Association but who is free to engage in other occupations. ARTICLE 27 - EFFECTIVE DATE These By-Laws shall take effect and be in force upon approval by the Insurance Commissioner of Pennsylvania or sixty (60) days after filing. The effective date of these By-Laws is November 8,2007. I, RICHARD W. TOTH, NATIONAL VICE PRESIDENTSECRETARY, DO HEREBY CERTIFY THAT THE FOREGOING BY-LAWS ARE A COMPLETE, TRUE AND CORRECT COPY THEREOF AS AMENDED AND RESTATED FROM TIME TO TIME, THE BY-LAWS BEING LAST RESTATED AND AMENDED BY THE 36TH GENERAL CONVENTION ON SEPTEMBER 3,4 AND 5, 2007. Richard W. Toth National Vice President-Secretary 46 William Penn Life, Special Convention Edition, December 2007
