This shows how sad I am but I've transcribed the rule book (1863) for the EARLESTOWN, NEWTON, HAYDOCK, GOLBORNE, AND ASHTON PERMANENT BENEFIT BUILDING SOCIETY. which i'm posting here for your amusement. If anyone has any information about where the branches were, when it was wound up (or who it merged with) etc etc please let me know.
If you spot any typo's or sentences that appear to have bits missing, please PM me and I'll fix the errors.
No. 5982
RULES
OF THE
EARLESTOWN, NEWTON, HAYDOCK, GOLBORNE, AND ASHTON
PERMANENT BENEFIT
BUILDING SOCIETY.
Patron :
W. J. LEGH, ESQ., M. P.
ESTABLISHED 1863,
AT EARLESTOWN, WITHIN NEWTON-IN-MACKERFIELD,
According to 6 and 7 William IV., Chap. 32.
WARRINGTON
PRINTED AT THE GUARDIAN STEAM PRINTING WORKS.
1808.
OF THE
EARLESTOWN, NEWTON, HAYDOCK, GOLBORNE, AND ASHTON
PERMANENT BENEFIT
BUILDING SOCIETY.
Patron :
W. J. LEGH, ESQ., M. P.
ESTABLISHED 1863,
AT EARLESTOWN, WITHIN NEWTON-IN-MACKERFIELD,
According to 6 and 7 William IV., Chap. 32.
WARRINGTON
PRINTED AT THE GUARDIAN STEAM PRINTING WORKS.
1808.
WHEREAS WILLIAM LUNT, JOHN ELLIOTT, GEORGE WARD, CHARLES FLETCHER, JOHN ANKERS, BENJAMIN WALKER, and other persons, on this Twenty-sixth day of August, 1868, together and formed themselves into a Society, to be called “The Earlestown, Newton, Haydock, Golborne, and Ashton Benefit Building Society," for the purpose of raising, by monthly subscriptions of the members thereof, shares to the value of ten pounds, a stock or fund, for the purposes mentioned in an Act of Parliament passed in a Session of Parliament held in the sixth and seventh years of the reign of King William the Fourth, entitled “An Act for the Regulation of Benefit Building Societies.” Now the said persons, so assembled at the same meeting, do ordain, and constitute the following rules and regulations for the government and guidance of such Society, with the intent that they be certified and enrolled, in pursuance of the provisions of the said Act, and of every other Act of Parliament which may extend or apply to this Society. That is to say—
R U L E S.
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OBJECT.
I. —THIS Society is formed for the purpose of raising, by the monthly subscriptions of its members, and in shares not exceeding the value of ten pounds for each share, a fund for enabling each member to receive the amount or value of his share or shares therein, to erect or purchase a dwelling-house or dwelling-houses, or other real or leasehold estate, to be secured by way of mortgage to such Society, until the amount or value of his shares shall have been fully repaid to such Society, with interest thereon, and all fines or other payments incurred in respect thereof.
MEMBERS.
II. —Every person subscribing for a share, half-share, or quarter-share shall be a member.
ENTRANCE FEES AND SUBSCRIPTIONS.
III. —Each member on admission shall state his name, place of abode, and occupation, which shall be entered in a register kept by the Secretary. Any member changing his abode shall within one month afterwards give notice in writing thereof, and of his new place of abode, in order that the same may be registered, and in case of neglect to give such notice shall pay a fine of one shilling.
IV. —Every notice to a member may be served by being left at his place of abode, as described on the register, or addressed to him there and put into a post-office.
V. —Each member on admission, or taking an additional share, shall pay such entrance fee as the Directors may determine, and also sixpence for a copy of these rules on admission. New shares may be issued at any time the subscriptions thereon to commence at the date of issue.
VI. —The subscription for each share shall be ten shillings per month, which shall be paid until the monthly subscriptions amount to ten pounds on each share.
VII. —The members may subscribe for half or quarter shares, and the monthly subscriptions on such fractional shares will be in the proportion they bear to whole shares. The holders of such fractional shares shall participate in the profits, and be subject to fines, in the same ratio with holders of entire shares.
VIII. —Each member on subscribing for a share or shares, shall be entitled to a certificate of such share or shares, specifying the number and amount thereof, and signed by one of the Trustees and the Secretary, which certificate shall be evidence of his title thereto, and shall be given up on withdrawal or transfer; if lost, a duplicate may be issued by the Directors, on the deposit by the member of a declaration that the certificate has been lost, that no money has been obtained thereon, and that to the best of his belief no improper use has been made thereof.
IX. —The monthly meetings for payments of subscriptions shall be held at Earlestown District School, or such other place as the members may appoint, on the third Thursday in each month, commencing on the 15th October, 1863, from 7 to half-past 8 o’clock p.m. If required, the Directors may extend the time or adjourn the meeting.
X. —The fines for non-payment of monthly subscriptions on shares shall be charged at the rate of two and a half per cent, per month; and when the fines on any such shares shall be equal to the subscriptions paid by the holder, such shares shall be forfeited.
XI. —Any member paying his subscriptions or repayments in advance shall be allowed such discount or interest thereon as the Directors shall and on the division of profits shall be entitled to the same dividend as if his subscriptions had been paid by monthly instalments.
XII. —If from want of employment or other cause any member shall be unable to continue his payments, and shall give notice thereof to the Secretary, the Directors may grant such member a suspension of payments for such time and on such terms as they may think fit, during which suspension no fine shall be inflicted for non-payment, and at the expiration thereof he shall resume his payments as if there had been no suspension.
PURCHASED SHARES.
XIII. —As often as it shall be deemed expedient by the Directors, shares of £10 each, to be denominated “purchased shares,” shall be offered for sale at a monthly meeting, and the highest bidder shall be the purchaser. Such sale shall commence at half-past 8 o’clock, in exclusion of all other business. No Shares will be sold at a less premium than twenty-one shillings per cent., except as hereinafter provided. The purchaser at the time of sale shall intimate to the Directors the number of shares, or fractional parts of shares, he intends to take, and pay a deposit of one pound per cent, on the amount so purchased, as part payment of the premium. Such premium shall in every case be paid as cash to the Society, at or before the execution of the mortgage deed. And when a sale of shares shall take place, it shall be presumed that Table V. is the one adopted by the purchaser for the repayments on such shares to be made; and if any other scale shall be afterwards selected by such member, the Directors are hereby empowered to charge a proportionate to the scale or table so selected. And if any member purchasing such shares shall agree to make his repayments according to Table IX., the Directors may award such shares at a premium of not less than two pounds per cent; or if he shall agree to make his repayments according to table X., the Directors may award such shares at a premium of not less than two pounds ten shillings per cent.
XIV. —The amount of purchased shares and fractional parts of shares advanced to any of the members, shall appear in the books of the Society as money due upon mortgage security, and shall be placed at the debit of the mortgageors respectively; but such purchased shares shall not be liable to fees, or participate in the profits.
XV. —Every member obtaining an advance must be possessed of at least one unadvanced share in the Society, which shall not be transferred or withdrawn without the consent of the Directors until the advance, with all other demands, has been fully paid. Every payment made by a member after receiving an advance, although tendered for a specific purpose, shall be applied in keeping on foot any unadvanced share or shares he may hold, and the residue shall be applied in discharge of arrears on advanced shares. In the event of the property mortgaged by any member falling into the hands of the Society, the amount standing to his credit in respect of his unadvanced shares shall be withheld until the sale of the property; and, in case of loss, the amount, or so much thereof as shall be sufficient to cover such loss, shall become forfeited to the Society.
XVI. —If any member, having purchased any such last-mentioned shares, or fractional parts of shares, shall decline to take them up, after a month’s notice, in writing, the said shares, or fractional parts of shares, shall be re-sold; and if a deficiency shall arise in the amount of premium by such re-sale, the original purchaser shall make up the loss to the Society, and shall pay, as a fine, interest on such purchased shares and fractional parts, from the purchase thereof to the time of re-sale; and such loss and fine shall be a charge on his deposit and unadvanced share, and in no case shall the original purchaser be entitled to the profits on a re-sale.
XVII. —The Directors may increase or diminish the number of shares purchased by any member to the extent of ten shares or less, and may increase or diminish the advance in respect thereof, without having recourse to another sale of shares. If the amount be increased, the member shall pay a proportionate premium on the increase; and if diminished, he shall be free from all obligation for any amount beyond that inserted in his mortgage deed.
SECURITY FOR MONEY ADVANCED.
XVIII. —Any member entitled to receive an advance in respect of any purchased shares shall give notice, in writing, of the nature and situation of the premises offered for the security thereof to the Secretary, who shall forthwith transmit the same to the Surveyors. When the Directors shall be satisfied that the premises are a sufficient security for the whole amount to be advanced, they shall instruct the Trustees to pay to such member the money which he shall be entitled to receive, on his executing such mortgage of the premises as the Solicitors of this Society shall require, and depositing the same, and all other necessary title-deeds, with the Trustees, as a security to the Society and the Trustees shall make such payment accordingly.
XIX. —If any member shall be desirous of ascertaining the amount which the Directors will advance on certain premises, notice thereof may be given, whereupon an examination and report shall be made at his expense, and the Directors shall communicate to such member the amount which they think proper to be advanced on such premises.
XX. —All securities to this Society shall be taken in the names of the Trustees for the time being; but when any Trustee shall become a borrower from the Society, all securities given by him shall be made to the other Trustees for the time being.
XXI. —No property shall be deemed a sufficient security which shall be subject to any previous mortgage, except to this Society.
XXII. —Any member desirous to build, may, on executing a mortgage and depositing the title-deeds, receive his advance by such instalments as the Directors may determine in each case, subject to the same inspection and approval as premises already built, provided that the Directors are satisfied that the work done has been paid for, or that the instalment advanced will be applied in payment for the same.
XXIII. —If any member shall at any time, after receiving an advance, neglect or refuse to pay, observe, and perform all or any of the monthly repayments, interest, and regulations, on his part to be paid, observed, and performed; or if such member shall become bankrupt or insolvent, then the Trustees for the time being may appoint a person to collect the rents of the premises mortgaged by such member, and allow him out of the rents such commission as they may think proper; but should the rents be insufficient in the judgment of the Trustees, then the Trustees may, without the concurrence of the said member, absolutely sell and dispose of all or any part of the said premises, by public auction or private contract, as to them shall seem advisable, for the most money that can be reasonably obtained for the same, and receive the purchase-money thereof; and at such public sale the Trustees, or some other person to be appointed by them, shall be allowed to buy in the premises on behalf of the Society, and to re-sell the same without being answerable for any loss to be occasioned by such re-sale ; and out of the money to arise from such collection of rents or sale the Trustees for the time being shall discharge all costs and expenses incurred on account of such collection of rents or sale, or in anywise relating to the trusts, and then shall retain for the Society all such principal and other payments as shall then be payable by such member under and by virtue of these Rules and the mortgage ; and the money so retained for the said Society shall be immediately placed in the Society’s bank to the account of the Trustees for the benefit of the Society; and they shall pay the surplus, if any, arising from such sale or collection of rents to the said member, or to such person as he shall, by writing under his hand, appoint; and in the said mortgage- deed, or other assurance, it shall, amongst other things, be declared the receipt of the Trustees of this Society for the time being, acting under that deed, shall be a sufficient discharge to all tenants and purchasers paying any money to such Trustees; and that the purchaser shall not be under the necessity of inquiring into the propriety or regularity of such sale ; and the mortgage shall contain such clauses, covenants, powers, trusts, and declarations, as the Solicitors of the Society may deem expedient in each case for making an effectual security to the Society.
XXIV. —Should any member, after receiving any portion of his advance, leave the buildings upon which the same shall have been advanced unfinished the Trustees for the time being (having first given fourteen days’ notice to the member of such their intention) shall be at liberty either to sell such premises, or to employ any person to complete the same at the cost of the member, and the Trustees may advance the money requisite for such purpose; and the money so expended shall be a charge upon the said premises, with interest and fines, as if the same were a subscription falling due on the subscription night next after the expenditure thereof.
XXV. —When any property mortgaged to the Society shall be subject to any chief or ground rent, the member mortgaging such property shall furnish the Secretary with a statement of the amount of such rent before the period prescribed for payment shall have elapsed; the name and address of the person to whom, and the day on which the same shall become due; and shall, from time to tune, produce to the Secretary a receipt for the payment thereof: and in case the rent shall not be duly paid, the Trustees shall direct the amount thereof to be advanced out of the Society's funds to the Secretary, who shall pay the same accordingly. Should such member neglect to furnish such statement, to produce such receipt, or, at the next monthly meeting which shall succeed any such advance, to repay the same, he shall for each default be liable for the same fine as on monthly repayments in arrear for a similar amount.
XXVI. —In case any property mortgaged shall fall into the hands of the Society, and the same be in the occupation wholly or partially of the mortgageor, he shall pay to the Society such rent for such entire or partial occupation of the premises as the Directors, under the advice of a Surveyor of the Society, may deem equitable, or as may be specified in the mortgage in that behalf. All expenses attending such valuations to be borne by the member, and such provisions to effectuate the above shall be inserted in the mortgage as the Solicitors of the Society shall deem expedient.
REPAYMENT OF MONEY ADVANCED, AND INTEREST.
XXVII. —When any member shall have received an advance from the Society, such member shall at the first monthly meeting of the Society, after the execution of his mortgage, commence to repay the amount advanced from the date of such mortgage, by such monthly instalments of principal as are mentioned in such one of the Tables annexed to these Rules as may have been agreed on, until the whole debt is liquidated. Such mortgageors as may be desirous of paying off their securities at a shorter period than is required by that Table may, at any monthly meeting, pay such larger amount as may be convenient. And it shall be lawful for the Directors at any time to permit any member holding purchased shares to select any one of the annexed Tables or scales as his mode of future repayments, on such terms as the Directors may determine.
XXVIII. —That interest shall be charged to members executing mortgages to the Society upon the respective amounts advanced from the day on which the money is ready to be advanced by the Trustees, or the date of the mortgage, at the option of the Directors, and shall be paid by monthly instalments according to the scale or Table selected, commencing at the first monthly meeting after the execution of the mortgage; and each member shall have his amount of interest reduced at the commencement of each year of the Society according to the amount of principal previously paid. The fines incurred by mortgageors neglecting to make their monthly payments of principal and interest will be two and a half per cent, per month on all payments in arrear.
INSURANCE.
XXIX. —That the Directors for the time being shall, Immediately after the signing of the mortgage-deed, insure from loss by fire In some Insurance Company to be named by the Trustees, in the names of the Trustees and the mortgageor, all premises mortgaged to the Society, and continue such insurance from time to time for such an amount as the Directors may deem necessary and proper; and the Secretary shall pay for such Insurance out of the Society’s funds, but the money so expended shall be refunded to the Society by such mortgageor at the next monthly meeting; and in ease of non-payment, the said mortgageor shall be liable to the same fine as would be payable for subscriptions in arrear of a similar amount.
XXX. —When any property mortgaged to this Society shall sustain damage by fire, the receipt of the Trustees for the time being shall be a sufficient discharge to the Insurance Company for any money paid in respect thereof. The Directors shall have power to settle with the Insurance Office any question relating to such insurance, or to the rebuilding or repairing of the premises. The money to be received by virtue of any policy of insurance shall be applied in satisfaction to part payment of the moneys secured by the mortgage of the premises injured; or the Trustees shall, if the Directors deem it expedient, expend such money in repairing the injury sustained.
XXXI. —Each member who shall execute a mortgage to the Society shall, within two days, give a written statement to the Secretary of any trade carried on in his premises, and of any stove, furnace, or other article erected therein, which would affect the validity of the insurance; and the party neglecting to give such notice shall pay such fine as the Directors may determine, not being more than one pound nor less than five shillings per cent, on the amount secured by his mortgage ; and the Directors may once a year appoint one or more of their number to obtain information with respect to trades, &c., carried on in or about such premises, who shall report to the Directors, and for that purpose shall have liberty at all times, by permission of the tenant, to inspect such premises.
POWER TO EXCHANGE PROPERTY IN MORTGAGE.
XXXII. —If any member who shall have received an advance on any purchased shares, and secured the repayment thereof upon his premises, shall sell such premises, it shall be lawful for the purchaser to take the same, chargeable with the debt due to the Society; and such purchaser shall thenceforth become answerable to the Society for the repayment of the principal and interest as the same shall become payable.
XXXIII. —The Directors may, from time to time, accept any other mortgage security in the place of any existing security, or may direct the release of a portion of any mortgaged estate, when satisfied that the remainder will be a sufficient security, or may direct the Trustees to grant or concur in granting a lease of any property mortgaged to the Society.
TRANSFER OF SHARES.
XXXIV. —Any member who has not received an advance from the Society, on giving previous notice in writing to the Secretary, shall be at liberty to sell or transfer his shares or fractional parts of shares, or any of them, to any other person; and such person shall pay one shilling per share as transfer fee. Any member having executed a mortgage wishing to transfer his interest in the Society, may do so according to Rule 32, and the person to whom the mortgageor’s interest is transferred shall pay a transfer fee of one shilling for each twenty pounds owing to the Society and so transferred. No member entitled to an advance shall transfer the same, except by special leave of the Directors and on such terms as they may impose. When any transfer is made, all fines and subscriptions due must be paid up. No transfer shall pass to the interest of any member until the same shall have been registered in the books of the Society.
MEMBERS WITHDRAWING.
XXXV. —Any member not having received an advance from the Society, and desirous of withdrawing from the Society, by giving a month’s previous notice in writing to the Secretary before any monthly meeting, shall be entitled to receive back his monthly subscription money out of the first available funds; and if such withdrawal take place after the share or shares shall have been held two years, such member shall be entitled to receive Interest at the rate of four pounds per cent. per annum on his subscriptions, provided no dividend on such share or shares shall have been previously paid, or have become payable. If more than one shall give notice to withdraw, or to have money advanced upon mortgage, they shall be paid in rotation, according the priority of their of their notices; but in all cases of withdrawal all fines and other payments due from such members shall first be deducted, together with a fair proportion of any discount previously paid to such member, and of any loss incurred by the Society, or apprehended by the Directors, and which loss, if not ascertained, the Directors are empowered to estimate.
XXXVI. —Any member having executed a mortgage wishing to withdraw from the Society, shall give notice thereof to the Directors, who are authorized to make up a statement of all the repayments of principal, and to receive the balance of the debt, either in one payment, or by such instalments as the Directors and the member shall agree upon; and on payment of the balance, with all fines incurred by such member, the Directors shall order the Trustees to deliver all deeds and documents In their custody relating to the security to the member; and, at his cost, to endorse a receipt on such mortgage, according to the 6th and 7th William IV., c. 32, s. 5, in the form hereunto annexed. And the Directors may authorize the Trustees to return such a proportion of the premium paid for the shares as to them shall appear equitable.
XXXVII. —The Directors shall have power to give one month's notice to the holders of unadvanced shares in rotation to withdraw the amount of their subscriptions, or such part thereof as the Directors think proper, with such bonus as shall have been carried to the credit of such shares, or part of shares, and at the expiration of such notice such subscriptions and bonus shall be withdrawn accordingly, and the Interest of the members to whom such notice shall have been given shall thereupon cease in respect of such shares, unless such members shall prefer to take an advance from the Society, when the Directors may accept a proposal for an advance on mortgage instead of such compulsory withdrawal.
XXXVIII. —If any member shall become lunatic, and the Directors of this Society be satisfied that there is no committee of his effects (although the contrary be the fact), any person appearing to have the care of such members may, with the consent of the Directors of this Society, withdraw the amount standing to his credit, or any portion thereof; and such withdrawal shall be considered as the valid act of such lunatic member, and be binding upon him, his committee, and representatives.
XXXIX. —If any member die to whoso credit any sum not exceeding £20 shall be standing in the books of the Society, and the Directors shall be satisfied that such deceased member left no will, and that no letters of administration of his effects have been or will be taken out (although the contrary may in either case be the fact), it shall be lawful for the Directors to pay such sum to and amongst the person or persons whom they shall think entitled thereto, or any one or more of such persons; and every payment, so far as respects any claim against the Society, shall he valid against such deceased member s next of kin and legal representatives, if any such there shall then or thereafter be.
PROFITS.
XL. —All entrance fees, fines, transfer fees, interest, premium, and forfeitures are to be considered as the profits of the Society, and paid as cash to the Society, and be placed at the credit side of the profit and loss account of the Society, and all items of expenditure incurred in conducting the business of the Society shall be placed at the debtor side of the said account. Such account, or an abstract thereof, shall form part of the annual report, to be distributed among the members.
XLI. —No member shall be entitled to receive any dividend, bonus, or distribution of profits of this Society, until his shares are paid up or withdrawn At the end of the first year, and of every subsequent year, a statement of the accounts shall be made, the amount of profit ascertained, and such profit shall be divided among all the members who shall have paid up their shares according to the respective number of unpurchased shares each member may hold, the number of months during which he shall have held such shares respectively, and the mode in which his subscriptions shall have been paid. But the Directors are empowered to set aside as a reserve fund such proportion of profits as they think fit, not exceeding £10 per cent. On the amount for the time being outstanding on mortgage; and any loss sustained by the Society shall be paid out of the reserve fund and profits, so far as the same will extend; and the deficiency, if any, shall be charged against the unadvanced shares in proportion to the contributions then paid or due thereon.
PATRONS.
XLII. —The Directors are hereby empowered to appoint as an Honorary Patron, and President any gentleman of whom they may approve, whether a member of this Society or not.
TRUSTEES.
XLIII. —That Joseph Evans, Robert Houghton, Edward Tayleur, and Owen Owens, Esqrs., are hereby appointed the Trustees of this Society.
XLIV. —The Trustees for the time being shall make all payments which the Directors may order on behalf of this Society by cheques upon the Society’s bankers, to be signed by one of the Trustees, Vice President, and the Secretary.
XLV. —All securities to and from the Society shall, immediately after the receipt thereof, be deposited in a box, which shall be lodged in such place as the trustees and the Directors may agree upon.
XLVI. —The Trustees may examine the Society’s books, and attend all meetings of the Directors, and give their opinions and votes on all matters under discussion.
XLVII. —In case any of the said Trustees, or any other Trustees or Trustee to be substituted in the place of them, or any of them, under this rule shall die, or be desirous to be discharged from being Trustees or Trustee of this Society, or shall refuse to act as such Trustees or Trustee, or shall become bankrupt or insolvent, or shall, in the judgment of the other Trustees for the time being of this Society, or the major part of them, be guilty of any neglect or improper conduct as Trustees or Trustee or members or member of this Society; or in the judgment of such other Trustees, or major part, become incapable or unfit from any circumstances to act as sucj Trustees or Trustee; then, and so often as any such case or cases shall happen, such Trustee or Trustees so dying, desiring to be discharged, refusing to act or becoming bankrupt or insolvent as aforesaid; or (in such judgment as aforesaid) being guilty of any neglect or improper conduct, or becoming incapable or unfit to act as aforesaid, shall thenceforth cease to be, and he or they shall be removed from the office of Trustee or Trustees of this Society, and his or their place or places as such Trustee or Trustees shall thereupon be vacant to all intents and purposes. And a declaration in writing of the other or surviving or continuing Trustees of this Society, or any two of them, under their hands, whether made immediately thereupon or at any time thereafter, of the death or removal of any Trustee or Trustees, or of the appointment of any new Trustee or Trustees, shall be conclusive evidence of every such circumstance. No member of this Society, or any of his real or personal representatives, or any other person claiming under him, nor any such Trustee or Trustees, nor any other person interested in this Society, shall dispute the propriety of any such removal or new appointment, or show that the same is improper, or incorrect, or not duly made, or founded upon an insufficient or irregular inquiry, or upon such evidence as may not be strictly legal, sufficient, or conclusive; or made without hearing or summoning, or in the absence of any Trustee, member, or other person affected thereby; or is in any other respects improper, irregular, or invalid, it being the intention of the members and the meaning of this rule that such other or surviving or continuing Trustees of this Society, or such major part of them, shall be the sole judges of the propriety thereof, and of the existence of the circumstances and of the sufficiency thereof for any of the aforesaid purposes and the mode of conducting their inquiries, or forming their judgment as to such circumstances. And it shall be lawful for the major part of the members present at an ordinary or special meeting of the Society, either immediately upon any such death or removal as aforesaid, or at any time thereafter, or at any time after such declaration as aforesaid, to appoint any other person or persons, to be a Trustee or Trustees of this Society, in the place or places of the Trustee or Trustees so dying or removed as aforesaid. And it shall not be necessary to supply several vacancies at the same time, or to keep up the full number of Trustees hereby appointed, Every new Trustee may in all things act as a Trustee of this Society as fully and effectually and with the same powers as if he had been originally by these rules appointed a Trustee of this Society; during the interval between the death or removal of a Trustee and the appointment of a new Trustee, the continuing Trustees for the time being may act as fully and efficiently as if no such death, removal, or vacancy had taken place.
XLVIII. —The removal of any Trustee shall not operate to his prejudice as a member of the Society so long as he shall conform to the rules. On the death or removal of any Trustee, all papers, documents, effects, and property belonging to this Society in his custody shall be delivered up by him or his representatives to the other Trustees; and if the same or any of them be not forthwith delivered up, they shall be compelled to do so. And if he be a member of the Society, he shall be expelled, and all his interest in the Society shall be forfeited.
XLIX. —The business of the Society shall be under the management of directors, consisting of a Vice-President and nine other members, who, together with two Stewards and two Surveyors, shall be elected annually at the meeting which will take place on the third Thursday in October in each year. All officers shall be members of the Society, and shall hold at least one invested share.
L. —Five of the Directors shall constitute a meeting, and have power to act. All questions shall be determined by a majority of the Directors then present. Any vacancy in the office of Directors or Stewards shall be filled up by the members of the Society at the next monthly meeting. Neither minor nor female shall be competent to fill any office in the Society.
LI. —Any member having served in the office of Vice-President, Steward, or Director, shall for one year be exempt from service, but shall be eligible to serve in any office during that period if re-elected. Any member who shall refuse to fill any such office after having been duly elected, or who shall resign any such office without sufficient cause to satisfy the Directors, shall pay a fine of two shillings and sixpence.
LII. —The Vice-President shall attend every general meeting of the Society, and if absent without excuse, shall pay a fine of one shilling, and in his absence one of the number present shall perform all the duties of the Vice-President. The Stewards and Secretary shall attend every monthly meeting of the Society by seven o’clock, and if not in the room by a quarter-past seven, shall be fined one shilling; and a further fine of one shilling for every fifteen minutes’ absence afterwards. These fines shall not attach if the officer shall send a note to the Directors before the commencement of the meeting, giving a sufficient excuse, and stating his intended absence. In all cases of absence of any of the said officers, the Vice-President, or the majority of the Directors then present, shall, if necessary, appoint one or more member or members to act in his stead during such absence, and such deputy shall be subject to the same rules, payment, and forfeitures, as the officer for whom he shall serve.
LIII. —The Vice-President shall be empowered to keep good order at the meetings; and shall, before the close of the business, inspect the accounts of each monthly meeting, and report the same to the members then present.
LIV. —The Stewards and Secretary shall receive all money paid at the monthly meeting, and either they or some of them, or some trustworthy person to be appointed by the Directors, shall deposit such money on the following day in the bank of the Society, in the names and to the credit of the Trustees, and within two days deliver over the bank-book, containing an acknowledgment of the same, to the Solicitors.
LV. —The Stewards and Secretary neglecting to account for and deposit the money received by them within two days after receipt thereof, shall pay five shillings for such default, and ten shillings for each following day’s default: and if such money be not paid into the bank the following day and the bank-book delivered to the Solicitors within two days after receipt of the said money, the Vice-President shall require the Directors to be summoned, and the Directors shall take such steps for the recovery of the money so retained, after one day’s notice to the party retaining the same, as they may deem best; and the person (if he withhold the money after such notice) shall be expelled the Society, and forfeit all his benefit therein, and shall be liable to be proceeded against for the recovery of the said money, with interest thereon.
LVI. —The Vice-President and Secretary shall have power to call a meeting of the Directors at any time, or a general meeting of the Society, on a requisition for that purpose, signed by seven or more members, by giving ten day’s previous notice to each shareholder in such place as to be determined on; and the Directors shall have power to call a special meeting of the members, by giving two days’ notice thereof to such members, and specifying the cause of the meeting. No business shall be transacted at such special meeting except that of which notice has been given to the members.
LVII. —No Director shall vote on any question in which he is personally interested, nor shall he be present during the discussion of any such question.
LVIII. —The Directors shall have power to fine, or remove from office, any of their own body, or any Steward, for neglect of duty or misconduct, on a complaint, in writing, being made to them, stating the accusation, and, signed by the party so complaining; and if such officer, on having 10 days’ written notice thereof, signed by the Vice-President, or any three of the Directors, do not, on the following meeting of the Directors, give a satisfactory explanation to the Directors, they may fine or remove him from his office. The Directors shall have power to open branch offices in connection with the Society in such places as they may determine and appoint agents for managing the same.
LIX. —Each Director, as also each Trustee and Surveyor, when required by the Directors to attend any meeting, shall for his punctual attendance be entitled to one shilling; and every Director not present at the expiration of the first fifteen minutes from the appointed time shall forfeit such allowance; if absent at the expiration of the first half hour, shall pay a fine of sixpence; and if absent during the whole time of the meeting one unless a written notice be presented to the Directors, within a quarter of an hour after the time of meeting, assigning the cause of such absence, of the reasonableness of which the Directors then present shall determine.
LX. —Such an allowance as the Directors shall deem proper may he made to any officer, member, or other person appointed to perform any duty which the Directors may consider deserving of such remuneration.
LXI. —The following persons shall constitute the Directors for the first year:—Mr. Charles Ambrose Kelly, Vice-President; Messrs. Charles Fletcher, John Ankers, Thomas Middlehurst, George Naylor, William Lunt, Benjamin Walker, Samuel Stock, Edward Howarth, and George Ward; and Messrs. Matthew Birkhead and John Elliott are hereby appointed Stewards for the first year.
LXII. —Mr. George Browne is hereby appointed Secretary of the Society, and he or any succeeding Secretary shall not be removed but by a majority of the members present at a meeting specially called for that purpose; he shall attend every meeting of the Directors and Members, and enter minutes of all resolutions, transactions, and business thereof, and keep the books and accounts, and transact any other business of the Society in such manner as the Directors may require, and prepare the accounts or the balance-sheet thereof, for the inspection and signatures of the auditors.
LXIII. —He shall summon all meetings of the Directors, and Issue all circulars and notices to members which may from time to time be thought necessary by the Directors, conduct the correspondence of the Society, and file all the Solicitors’ and Surveyors’ reports, and all receipts for title-deeds according to their respective dates.
LXIV. —He shall attend the monthly meetings, in conjunction with the Stewards, to see them receive the subscriptions and other payments from the members, and enter the same into a pass-book.
LXV. —The Directors shall provide him with the necessary books, and shall determine what salary shall be paid him. If he be chargeable with culpable negligence, the Directors shall have the power of fining him in a sum not exceeding five shillings for each offence.
LXVI. —In the case of the death, resignation, or removal of the Solicitors or Secretary, the vacancy shall be filled up at the next monthly meeting of the members, after notice given to the members of such vacancy.
LXVII. — Messrs. Beamont, Urmson, and Davies are hereby appointed Solicitors to the Society, and they, or any future Solicitor to be appointed by the members, shall not be removable but by a majority of the members present at a meeting specially called for that purpose: they shall transact any necessary business of the Society the Directors may require, for which they shall receive a fair and reasonable allowance. The costs of investigating any unsatisfactory title to be paid by the party proposing the security. The costs of and relating to all mortgages to the Society to be paid by the parties giving such securities, out of the money to be advanced by the Society. Should any objection be made to the charges of the Solicitors, the same shall be referred to the Directors and if they shall think the objection well founded, the same shall be submitted to the determination of one or more Attorney or Attorneys in Liverpool, to be mutually nominated by the Directors and Solicitors, whose decision shall be final and conclusive upon all parties, and the cost of the reference shall be paid by such party as the Arbitrator shall direct.
LXVIII. —Any member borrowing from the Society may employ any person to draw up the securities from himself to the Trustees of the Society, but such securities shall afterwards be examined by the Solicitors of the Society; and in no case shall any amount be advanced until the deeds and securities appertaining to the property offered in mortgage shall have been first approved of by the Society's Solicitors, who shall give a certificate to that effect to the Trustees, which certificate shall be deposited with the deeds in the Society’s box. The Solicitor shall furnish the Secretary with schedules of all deeds and securities deposited in the box, if required.
SURVEYORS.
LXIX. –That chosen by the Directors, are hereby appointed Surveyors for the first year, and they shall examine all premises offered as a security to this Society, and make a report thereof, in writing, at the next meeting of Directors; and the Surveyor neglecting to make such examination and report, after a notice to that effect signed by the Secretary, and left at his counting-house or dwelling-house, two days previous to such meeting of Directors, shall pay a fine of five shillings for each neglect, unless absent from home or indisposed, in which case a written notice shall be given to the Secretary, who may appoint someone in his place.
LXX. —That each Surveyor shall be allowed for the examination of any property proposed to be secured to the Society, at and after the rate of three shillings and sixpence per cent, upon the ascertained value of any property proposed to be secured to the Society, provided such property be situated not more than two miles from Earlestown; but in case of disagreement as to the allowance, or if such premises be situated wore than two miles from said place, then each Surveyor shall be allowed such further sum for such examination as the Directors may think reasonable; and the Secretary shall be empowered to pay the Surveyor, and to charge the amount to the member liable to the payment thereof.
AUDITORS.
LXXI. —At the first, and every subsequent Annual Meeting of this Society, the meeting shall appoint two Auditors of the Accounts, to whom shall be delivered all books and papers belonging to this Society, for them to make a report of the funds, the subscriptions, and other payments, and all money borrowed, and interest due, and all particulars the Directors may require; and such Auditors shall deliver their report to the Vice-President, who shall immediately summon the Directors; and such report, prepared pursuant to law, when adopted by them, shall be printed, and a copy delivered to each member.
MEETINGS.
LXXII. —In every case not otherwise provided for, all questions submitted to meeting shall be decided by the votes of the majority of the members present, and entitled to a vote: such votes shall be taken by a show of hands, on which the decision of the Vice-President shall he final, unless a scrutiny be then demanded, in which case it shall be forthwith taken. Each member, including the Vice-President, shall have one vote; and if there be an equality of votes, the Vice-President shall give the casting vote. No member shall vote on any question in which he shall have a personal Interest distinct from the other members. Every resolution shall be entered in the minute book, and the minutes of every meeting shall be signed by the Vice-President thereof. Every adjournment shall be considered a continuation of the original meeting. Every general meeting shall be summoned by circular forwarded to the members, and notice of all general meetings shall be conspicuously posted in the office of the Society.
MODE OF VOTING.
LXXIII. —The Officers of this Society shall be separately elected, and all questions decided by a majority of votes; and the sense of the meeting taken by a show of hands, or by division, by the Vice-President, in all cases not otherwise specially provided for; but no member shall be entitled to more than one vote, except the Vice-President, who shall have the casting vote in all cases of an equality of votes.
MISCONDUCT.
LXXIV. —If any member shall, during the time of business, conduct himself disorderly, use abusive language, swear, or assault any member, he shall for each offence pay a fine of five shillings and for interrupting a person addressing the chair, after having been called to order, shall pay a fine of one shilling for each offence.
POWER OF APPEAL.
LXXV. —Any member or officer removed from his office, or fined by the Directors, may appeal from its decision to the next monthly meeting of the Society, on giving seven days’ notice, in writing, to the Secretary.
NEW RULES AND BYE-LAWS.
LXXVI. —No rule herein contained, or any Rule to be hereafter made, shall be altered, rescinded, or repealed, unless at a general meeting of the members convened for that purpose, and by the votes of three-fourths of the members of the Society present at such meeting, pursuant to 10 Geo. IV c56, s. 9. All new Rules or proposed alterations in or repeal of Rules shall be submitted to the Directors, for their report thereon, previous to the general mooting.
DISPUTES AND DIFFERENCES.
LXXVII. —The Directors shall determine all disputes between the Trustees, Officers, or members, that may arise regarding the construction of these Rules; and also of the Bye-laws, additions, or alterations which shall be made, and the decision of the Directors, if satisfactory, shall be conclusive; if not satisfactory, reference shall be made to arbitration, pursuant to 10 Geo. IV., c. 56 s. 27. At the first meeting of this Society, after its Rules are duly certified, five Arbitrators shall be named and elected, none of them being directly or indirectly beneficially interested in the funds of the Society. In each case of dispute, the names of the arbitrators shall be written on pieces of paper, and placed in a box out of view, and the three whose names are first drawn by the complaining party, shall be the arbitrators to decide the matter in dispute. Each member requiring such arbitration shall deposit with the Secretary thirty shillings towards the expenses thereof, which sum shall be returned to him if the award be in his favour. In case of the death, refusal, or neglect to act, of any arbitrator, another arbitrator may be appointed at a monthly meeting.
INDEMNITY.
LXXVIII. —No Trustee, Director, or Officer, shall be charged with more money than he shall actually receive; or be accountable for the others, or other of them, or for their acts, receipts, neglects, or defaults respectively; and the Trustees and Directors shall not be answerable for the bank of the Society where any money belonging to the Society shall be deposited, nor for the insufficiency or deficiency of any security, nor for any loss or damage which may happen in the execution of the powers and authorities hereby given, except the same shall happen through their own wilful fault respectively, and it shall be lawful for the Trustees and Directors, out of the funds of the Society, to reimburse themselves and each other, all costs, damages, and expenses, which they may respectively sustain, in or about the execution of the powers hereby given, or the trusts on which any security is given, or in relation thereto.
CONSTRUCTION OF TERMS.
LXXIX. —In the construction of these rules, the word year shall mean the Society’s year, and the first year shall be taken to expire with the third Thursday of October, 1864, and when any word importing the singular number or the masculine gender only is used, it shall be held to include and apply to the plural number, or feminine gender, and vice versa, unless there be something in the context repugnant to such a construction.
TERMINATION OF THE SOCIETY.
LXXX. —If it shall be deemed advisable to bring the operation of the Society to a termination, suggestions in writing upon the subject shall be received by the Vice-President, but no rule authorizing a dissolution of the Society shall be entertained unless at a general meeting of the members, convened according to 10 Geo. IV., c. 56, s. 9, and Rule LXXVL. Every member of the Society must be supplied with a copy of the either written or printed, upon which it shall be proposed to dissolve the Society, at least two months previous to such general meeting, when tie terms of dissolution shall have been agreed upon by at least three-fourths of the members present as aforesaid, or of any committee appointed for this purpose, the said terms shall be formed into a rule of the Society, and be transmitted for certification to the Barrister for certifying the rules of Friendly Societies, and no such rule shall be valid until such certification be obtained. As soon as any such rule has been certified by the barrister aforesaid, a notice, written or printed, of such certification shall be sent to each member who has executed a mortgage to the Society, and such member shall be called upon to pay the amount of his balance due to the Society at any time not exceeding eighteen months after the date of certification of any such rule as aforesaid. When all the payments due to the Society by such member have been fully made, the Trustees, with the advice of the Solicitors of the Society, shall deliver up to such mortgageor, or his legal representatives, the title deed and other documents which shall have been deposited with them by such mortgageor as a security to the Society, and shall, if required, execute all necessary re-conveyance at the expense of the party requiring the same. When all the payments due to the Society by members or any other person have been satisfied, and when all the debts and expenses have been paid, the accounts shall be finally audited, printed, and sent to each member; and the stock of the Society shall be divided among the members, according to the number of unadvanced shares which each member may have standing at his credit in the books of the Society, and the members on receiving the amount due to them on account of their respective shares, shall execute a bond of indemnity to the Trustees, securing them from all future liability.
CHARLES FLETCHER,
JOHN ELLIOTT,
WILLIAM LUNT,
BENJAMIN WALKER,
GEORGE WARD,
JOHN ANKERS
(Members of the Society)
________________________________________
I hereby certify that the foregoing rules are in conformity with law, and with the provisions of the Act 6 and 7 Wm. IV., c. 82.
JOHN TIDD PRATT,
The Barrister appointed to certify the rules of Savings' Banks.
London, 10th September, 1868.
Copy sent to Clerk of Peace.
________________________________________
SCHEDULE.
Receipt to be endorsed on satisfied Mortgages.
We, the undersigned, being the Trustees of the within-named Benefit Building Society, hereby acknowledge to have received from
all moneys intended to
be secured by the within-written deed.
Dated the day of 18
Form of Transfer.
I. in consideration of
to be paid by do hereby transfer unto
the said his Executors, Administrators,
and Assigns, Shares, No. in the Earlestown,
Newton, Haydock, Golborne, and Ashton Permanent Building Society, subject to the same Buies and Liabilities on which I held the same immediately before the date hereof, and I, the said do hereby accept the same accordingly.
Witness our hands, this day of 18
Signed by the above-named, presence of
Repayment Tables.
No Chance
Index.
Not much of a chance.
