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

OLD RULE.

Rule XXlL—Rules Ciinl;-;l7ered by board of ma.
nagement, subject to confirmation by members.

NEW RULE.

Rule XXll.—Rules can Ire-a Tiered by the board of
management, as before, or, by a special meeting of mem-
bers on requisition of not lees 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 make 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 CHAIRMAN said it was the object of the direc-
tors to have, if 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
0_
" That all persons formerly enrolled as members
the Benevolent Department, in virtue of an 1"8:ow
and whose policies have lapsed, mayi on taking
tobst :c:
from
policies for not less than 1001., within six
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 unrolled• as members of
the Benevolent Deportment, in
their subscriptions,
of an annual sub-
scription, and who have discontinued
of the association up
may bo reinstated as members on
farolltnanond
after the alteration of' rules,have
renewing their subscription wberitliin six
and such persons shall
the benefit of alt their previous subscriptions, so far as
relates to length of membership,"

A special general meeting of the assurance depart-
ment was held immediately
after the conclusion of
the above proceedings ; Mr. R. H. Jones still pre-
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 nominees; declares that all porsons
enrolled as clerks are entitled to advantages of Nuevo-

lent fund, which they retain, notwithstanding any sub.
sequent change in their occupation.

NEW RULE.
Object to be as in old rule, but defines the parties to
be benefited, viz., in case of assurers before 15th Au-
gust, 1850, their wives, 'children, executors, administra-
tors or assigns, or nominees ; in case of assurers after
that date, the same parties except the nominees—states
persons entitled to advantages of Benevolent Fund must
be enrolled as clerks, and pay in addition to premium of
assurance a contribution—
From all existing members .........
Future members—
Up to 40 years of age .................. 55.
r. : .............. 20s.
From 40 to 50 years of age ............ 10s.
Above 50 years of age

As in old rule, advantages will be retained notwith.
standing change of occupation.
INVESTMENTS.
CLD RULE.

Rule IX. states investments are 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 Ragland 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.