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The Pamphlet Collection of Sir Robert Stout: Volume 7



20. The Trustees shall hold office permanently, subject to the following provisions:—In case any one or more of them shall become disqualified, or shall be discharged from, or incapable of acting either from mental or bodily infirmity, or should be out of the jurisdiction or not amenable to the process of the Supreme Court, or be guilty of any neglect or improper conduct (of which the Board shall be the only judges), or shall become bankrupt or insolvent, or shall execute any deed of assignment for the benefit of his creditors—on such disqualification, incapacity, neglect, improper conduct, removal, bankruptcy, insolvency, or assignment becoming known to the Board the Board shall proceed to inquire, and may page 11 remove such Trustee or Trustees from office, but shall not operate to his or their prejudice as members of the Society so long as he or they may think proper to conform to the rules. During the interval between death, discharge, or resignation of a Trustee and the appointment of a new Trustee, the remaining Trustee or Trustees shall be competent to act in the execution of the trusts hereby reposed on them, as fully as if no such death, resignation, or removal had taken place. On the death, discharge, resignation, &c., of a Trustee or Trustees, the Board shall nominate a new Trustee or Trustees, subject to the approval of the members present, at the next annual general meeting, or at a special meeting to be called for that purpose, and the appointment of such new Trustee or Trustees shall be signed by three shareholders, and countersigned by such Trustee or Trustees and the Secretary, and duly transmitted to the Registrar of Joint Stock Companies for the Canterbury District, to be by him deposited with the Rules of the Society in his custody; and upon such Trustee or Trustees' death, resignation, or removal by the Board, all and every the deeds, papers and other property belonging to the Society in the possession of such removed Trustee or Trustees, shall be demanded by the Chairman for the time being for and on behalf of the continuing and newly elected Trustee or Trustees; and if the same be withheld, or in ease of refusal to transfer his or their estate and interest in any property as security or mortgage to the Society by the representatives of such deceased Trustee or Trustees, or by such resigned or removed Trustee or Trustees, the party or parties so withholding or refusing shall be expelled from the Society, and shall forfeit all the money he or they may have paid to the Society, and all interest or share of the assets thereof, and shall be compelled by all legal and equitable means to give up and transfer the same. In case it shall be necessary or expedient to bring or defend any action, suit, or prosecution, criminal as well as civil, at law or in equity, touching or concerning the breach or non-performance of any of the articles, matters, and things herein contained, the same shall be brought and defended by and in the name or names of the Trustee or Trustees for the time being of the Society, and they or he shall be indemnified against all losses and damage by them or him sustained in consequence of being a party or parties to such proceedings : provided always that no such proceedings shall be taken or defended without the approbation of a majority of the members present at a duly convened meeting of the members of the Board.