The Sun.
London, England, 1851-07-24 00:00:00

OLD R lILE.

Rules XVIL and porary relief to mere-
hers, without reference to date of membership, loans of
ten pounds, without interest, permanent relief to mem-
bers of three years' standing.

NEW RULE.
Rules XVI. and XVlL—Temporary relief to members
of three years' standing. Permanent relief to members
of five years' standing. Interest to be paid on all loans.
For gratuities or allowances the board have a discretion
as to widows or children of members not of three years'
standing.

OLD RULE.
Rule XXlL—Rules can be altered by board of ma-
nagement, subject to confirmation by members.

NEW RULE.
Rule XXlL—Rules can be altered by the board of
management, as before, or, by a special meeting of mem-
bers on requisition of not less than thirty members of
three years' standing.
The CHAIRMAN, in allusion to the second rule,
observed that the object of altering the sum contri-
buted to the benevolent department out of the profits
of the assurance department, from one-third to one-
tenth, was to snake the association more palatable to
those who wished to assure their lives. He knew
instances in which meny respectable persons were
prevented joining as members, because they believed
it was unfair to tax them to the extent required by
the former rules for charitable purposes, when no
such deductions were made at other assurance offices.
No one had more serious objections, in the first in-
stance, to any alterations than himself, and he con-
fessed it was much against his feelings to part
with some of the leading principles with which they
originally started, but experience had satisfied them
that the new rules would prove in the end to be a
great benefit to the benevolent fund as well as to the
assurance branch.—(Hear.)
In reply to the suggestions and remarks of several
members,
The CHAIR
i MAN said it was the object of the direc-
tors to have, f possible, the annual meetings of both
departments held on the same day, in order to avoid
expense. The members would have the power of
calling a meeting, without the sanction or approval of
the board, provided they delivered to the secretary
a requisition signed by 30 members. Only
members of three years standing would be entitled to
relief, but discretion was left to the board to afford
assistance to widows and children of deceased mem-
bers, though they had not contributed to the funds for
a period of three years.

A MEMBER expressed his regret that they were
obliged to go to a ballot every year, which involved
an expense of 501. to the society—a sum sufficient to
provide two widows with annuities of 251. each ; and,
in addition to this loss, great expense was entailed
upon the applicants.—(Hear.) He also suggested
the expediency of carrying the votes of unsuccessful
candidates to future elections, and thus shield them
against the annoyance of repeated defeats.
The CHAIRMAN hoped the alteration of the rules
would have the effect of placing the association in a
position to meet all the claims of applicants for relief,
and in that case the ballot would become almost un-
necessary.—(Hear.)
The following resolutions were then agreed to :
" That all persons formerly enrolled as members 01
the Benevolent Department, in virtue of an "sßranca,
and whose policies have lapsed, may, on takingtnac flaw
policies for not less than 1001., within six "ho from
s
and after the alteration of the rules, have the benefit of
their original assurances, so far as relates to length of
membership."
" That all persons formerly enrolled as members of
of an annual sub-
scription,the Benevolent Department, n
virtuenoietd their subscriptions,
upon'
and who have discontinued
may be reinstated as member?. in
sixhe
renewing their subscription within months from and
awnid such persons shall have
after the alteration of rules,
the benefit of all their previous,.subscriptions, so far as
relates to length of membership,

A special general meeting of the assurance depart-
ment was held im.mediately after the conclusion of
}-1. Jones still pre.
the above proceedings ; Mr. R.
siding.
The following alterations and additions of the
rules were agreed to also after much discussion :
OBJECT.

OLD RULE.
Rule 11. states object of the association to be—to pro-
vide funds for mutual benefit of members, their wives,
children, relations, or nomineea; declares that all persons
enrolled as clerks aro entitled to advantages of benevo.

-
knt fund, which they retain, notvvithVanding any aub-
vegirnt change in thoir occupation.

NEW nULE.
Olject to be as in old rule, but defines the parties to
he beneficed, viz in case of assurers before 15th All'.
gust, 1850, their wives, children, executors, administra-
tors or assigns, or nominees ; in case of assurers after
that date, the same raties except the nominees—stat©a
persons entitled to advantages of Benevolent Fund must
be enrolled as clerks, Lnd pay in addition to premium of
assurance a contribution—

From all existing members .. ss.
Future members—.
Up to 40 years of age
From 40 to 50 years of age
Above 50 years of ago
As in old rule, advantages will be retained notwith-
standing change of occupation.

INVESTMENTS.
OLD RULE.

Rule IX. states inveentsaTo to be made in names
of trustees in real securities, or in Public Stock or
Funds, or in Government Securities.

NEW RULE.
Rule IX. The funds to be invested in names of trus-
tees, the mode of investment as stated in old rule, or on
security of leasehold or copyhold property, or of county
or borough rates, Bank of England or East India Stock,
or on loans to members on security of their policies to
extent or value of such policies.
NOTE.—The additional modes of investment are those
authorised by the Act of last session.
APPOINTMENT OF NOMINEES.
OLD RULE.

Rule XXV. declares that members may nominate any
party to receive the amount of their policies, but that
they cannot be assigned or conveyed in any other way.
NEW RULE.
Rule XXV. declares that assurers before 15th August,
1850, may
nominate as before, or the amount assured
may be made payable to their executors, administrators,
or assigns. Assurers after 15th August, 1850, may have
amount made payable to wives or children, executors,
administrators,_ or assigns.
PAYMENT OF CLAIMS.

LD RULE.
Rule XXXII. statesOamount of assurances shall be
paid within three months of death, and if the amount is
only 201., it may be paid to representative of member, or
his nominee, without letters of administration.
NEW RULE.
Rule XXXII. Same as old rule, except that the sum
of 201. is increased to 501. under the power given by Act
of last session, and also extends to the assigns of the
assurer. - -

DIVISION OF PROFITS,
OLD RULE.

Rule XXXIV. states profits shall be divided every
five years, one-third to the Benevolent Fund and two-
thirds to the assurers.