The Republican journal. [volume] (Belfast, Me.) 1829-current, 1917-04-05

ana rate of interest not greater than
l iI per cent. per annum, or upon a
n:lgher standard; provided that contribu-
n WIS may may be waived or returns may be
reserve and other liabilities, as provided
IN the bylaws. and, provided further
y! tnat extra contributions shall be made
II the reserves here; fter provided for be-
com, impaired.
section 8. Any society entering into
sueh insurance agreements shall MAIN
tam on all such contracts the reserve
re-, -lred by the standard of mortality
anu interest adopted by the society for
computing contributions as provided in
section two, and the funds representing
I dement, contributions and all accre.
aions thereon shall be kept as separate
a,iu dlstnct FUNDS, INDEPENDENT of the
other funds of the society, and shall not
ne haoie Tor nor used for the payment of
me debts and obligations of the society
otner IMAM the benefits herein authori ed;
pLoVloed' mat society may provide that
When a child reaches the minimum age
lor nlltlatloh into membership in such
society any benefit certificate issued
hereunder may be surrendered for can
collation. and exchanged for any other
form OF certificate issued by the society,
pfoVlded that such surrender will not re-
duce the number of lives insured in the
branch below five hundred, and upon the
issuance of such new certificate any re
serve upon the original certificate herein
PROVIDED for shall be transferred to the
credit Of the new certificate. Neither the
person who originally made application
for benefits on account of such child. nor
the beneficiary named in such original
certlhcate nor the person who paid the
co Tibutions shall have any vested
rlght IN ! such new certificate the free
nomination of beneficiary under the
new certificate being left to the child so
admitted to benefit membership.
section 4. An entirely separate finan-
g statement of the business transac-
tons and of assets and liza bilitieS arising
therefrom shall be made in its annual
report to the insurance commissioner by
any society avaiing itself of the pro-
visions hereof. The separation of assets,
funds and liabilities required hereby shall
not be terminated, rescinded or modified,
nor shall the funds be diverted for any
use other than as specified in section
three, as long as any certificates Issued
hereunder remain in force, and this re-
quiremen shall be recognized and en-
forced in any LIQUIDATION, reinsurance,
merger or other change in the condition
Of the status of the society.
SectiC-, g. Any society shall have the
flght to provide in its laws and the GER
tiHcate issued hereunder for specified
payments on account of the expense or
shall not be mingled with the general
fund of the society as it's constitution AMI
bylaws may provide
Section g. In the event of the termlna-
ton of membership in the society by the
person responsible for the support of any
child on whose account a certificate may
have been issued as provided herein, the
certificate may be continued fer the bene
fit of the estate of the child. provided the
contributions are continued, or for the
benefit of any other person responsible
for the support and maintenance of such
child, who shall assume the payment OF
the required contributions.-(Appr
March l, 1871