The Pamphlet Collection of Sir Robert Stout: Volume 7
Ballot for Withdrawal of Investing Shares
Ballot for Withdrawal of Investing Shares.
42. Whenever the Society shall have funds on hand which cannot be advantageously disposed of, it shall be lawful for the Board to appoint a ballot to take place to determine what investing shares shall be withdrawn, notice of such ballot to be given by advertisement. The member on whom the lot shall fall shall be obliged to accept repayment of his subscriptions and full profits as at last balance—on one share, if the number he holds unadvanced exceed five; on two shares, if that number does not exceed ten; on three shares, if that number does not exceed fifteen; and on four shares, or any number above fifteen; but shall not have his name put again into the box until every member holding unadvanced shares shall have had a portion withdrawn by this process. And in the event of any member upon whom a share or shares shall be balloted then failing to withdraw such share or shares from the Society, then all interest or profits upon such share or shares shall cease and determine.