V.—Duties of Officers.
1. The Trustees shall make all payments which the Committee may order (such order directing the payment to be in writing, and signed by the Chairman and two members of the Committee) by cheques upon the Society's Bankers, to be signed by one of the Trustees, countersigned by the Actuary and Secretary.
2. Previous to the orders for the cheque or cheques being signed for an advance to any member, the Actuary and Secretary shall produce, if necessary, for the inspection of the Committeemen signing such order, the Surveyor's report, and the Solicitor's certificate of title.
3. All deeds, writings, and securities to and from the Society, shall be made and taken in the names of the Trustees, and when made to the Society, shall be deposited in a box having two distinct
locks with a key for each, one of which keys shall be kept by one of the Trustees, and the other by the Treasurer of the Society.
4. Such box shall be lodged with the Bankers of the Society, in the names of the Trustees for the time being.
5. The Actuary and Secretary shall keep a schedule of all such deeds so deposited in a book to be provided for that purpose, to which he shall get the signature of one or more of the Trustees, or the Treasurer, on delivering such deeds to him or them; and no deed or other security shall be taken out or withdrawn from such box without a written order or authority signed by the Chairman of the meeting ordering the same, and countersigned by the Actuary and Secretary.
6. As often as it shall be deemed advisable to dispose of any
share or shares, or any fractional part of shares, by sale, where there shall not be money sufficient in the hands of the Bunkers to the credit of the Society, it shall be lawful for the Committee, or the major part of them, to direct the Trustees to apply for, and obtain from, the bankers, or other persons, such sum or sums of money as shall be necessary to provide for such share or shares, or fractional part of shares; and the Trustees shall make such application accordingly. And for any sum of money so borrowed as aforesaid, the funds for the time being payable by the members of the Society, and all the property for the time being vested in the Trustees of the Society, shall be security to the Trustees for such moneys so borrowed as aforesaid.
7. The Trustees of this Society shall have the privilege of admission
at all times into the meetings of the Committee, and of giving their opinion on all questions and matters under discussion, but shall not be entitled as Trustees to vote thereon.
8. In case any of the Trustees shall be discharged from, resign,
Mode of Appointment of New Trustees.
or be 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 Committee shall be the only judges), or shall become bankrupt or insolvent, or make an assignment for the benefit of his creditors, or shall remove to a distance of more than six miles from Wellington (unless he or they shall have a place of business in Wellington) on such incapacity, neglect, improper conduct, removal, bankruptcy, insolvency, or resignation being reported by any member to the Chairman of the Committee, he may direct a meeting of the Committee to be called, and the Committee may discharge such Trustee or Trustees from office, but such discharge shall not operate to his or their prejudice as members of the Society, so long as he or they shall think proper to conform to the rules. During the interval between the death, removal, or resignation of a Trustee or Trustees, and the appointment of a new Trustee or Trustees, the remaining Trustee or Trustees shall be competent to act in the execution of the trusts hereby reposed in him or them, as fully as if no such death, resignation, or removal had taken place.
9. Upon the death, resignation, removal, or discharge from office, as aforesaid, of any Trustee or Trustees, a special meeting of the Committee, convened for the purpose, shall elect and appoint a new Trustee or Trustees, in lieu of the Trustee or Trustees so dead, resigned, or removed from office by the Committee; and the appointment of such new Trustee or Trustees, shall be signed by three of the Committee and the Actuary and Secretary, and duly enrolled; and when and as often as any new Trustee or Trustees shall be so appointed, the Trustee or Trustees so resigning, or removed from office, as aforesaid, shall be incapable to act as such after the appointment of a new Trustee or Trustees has been so duly enrolled; but the continuing Trustee or Trustees, for the time being, and such newly-appointed Trustee or Trustees, shall have the same power, and be vested with the same trusts as shall, by virtue of these rules, have devolved on the said Trustee or Trustees before such death, resignation, removal, or discharge; and on request, the estate and interest money, securities, and funds belonging to the Society, shall be assigned and transferred when necessary, so as to vest the same in such continuing and newly-appointed Trustee or Trustees at the expense of the Society.
Responsibility of Trustees.
10. The Trustees and other officers of this Society shall not be chargeable with more money than they respectively shall actually receive; and any one or more of them shall not be answerable for the other or others, or for the acts, receipts, or defaults of the other or others of them, but each and every of them only for his or then own acts, receipts, and defaults respectively; and they or any of them shall not be accountable for any banker, or other person with whom any part of the money or property belonging to this Society shall be deposited, nor for any other misfortune, loss, or damage which may happen in the execution of the powers and trusts herein contained, or in relation thereto, except the same shall happen by or through his or their own wilful default respectively.
11. It shall and may be lawful for the Trustees, subject to the mode of payment prescribed by the first section of this rule, out of the moneys which shall come to their respective hands, to retain to, and reimburse himself and themselves, and also to allow his and their co-Trustee and co-Trustees all charges and damages which they or either of them may sustain in the execution of any of the powers or trusts vested in them or either of them, or in relation thereto.
12. Two members of Committee shall at each monthly meeting act as Stewards, who shall receive all moneys paid to the use of the Society, and shall be responsible for the amount and quality thereof, and at the close of the meeting or not later than eleven o'clock in the forenoon of the day following such meeting shall account for, and pay over the same to the Treasurer, and he (upon the receipt thereof) shall give an acknowledgment of the same in the Steward's book, and deposit such money on the following day
in the bank of the Society in the names and to the credit of the Trustees.
13. The Treasurer and Committee, and also, when required, the
Duties of Committee and Officers.
Solicitor and Surveyor, shall attend every meeting of the Committee if summoned, at the hour appointed, and if not there at the expiration of fifteen minutes thereafter may be fined, if the Committee think fit, five shillings each; and that the Stewards shall attend every monthly and general meeting of the Society, at such time as may be appointed, and each of such officers making default thereof shall, if the Committee think fit, pay a fine of ten shillings, and in all cases of absence of any of the said officers, and in the absence of the President or Chairman, the majority of the Committee or members then present shall appoint one or more member or members to act in his or their stead during such absence, and such deputy or deputies shall have the same powers, and be subjected to the same rules, payments, and forfeitures, as the officer or officers for whom he or they shall serve.
14. The Treasurer neglecting to account for and deposit the
money received as aforesaid in the Bank of the Society within one day (exclusive of bank holidays and Sundays) after the receipt thereof, shall respectively pay the sum of ten shillings for each default, and twenty shillings for each following day's default, and if such money be not paid by such Officer into the bank and the bank book be not delivered to the Actuary and Secretary (who shall apply for it on the second day following the day of the receipt of such money, provided it be not a bank holiday) the Actuary and Secretary shall communicate such default to the Chairman of Committee, or to two of the Committee, who shall direct the Committee to be summoned, and the Committee shall order such steps to be taken for the recovery of the money so retained as they may deem best for the interests of the Society; and the person so withholding such money may be expelled from the Society, and forfeit all his benefits therein, and may also be proceeded against at law either civilly or criminally for the recovery of the said money, with interest, if the Committee think fit.
15. The Treasurer, Trustees, and every other person concerned
in the receipt, management, and expenditure of the Society's money, shall, with two sureties, give a bond in manner and form prescribed in the shedule A. to the Building and Land Societies' Act, 1866. The penal sum of each such bond to be fixed by the Committee of Management.
16. The Actuary and Secretary shall attend every meeting of
the Committee and general meeting of the Society, and enter minutes of all resolutions, transactions, and business of the Society, and keep the accounts thereof, in the books to be provided for that purpose; which books, and also the bank book he shall produce at each meeting of the Society and also of the Committee if required. He shall also send the circulars and
notices which may from time to time be necessary, and conduct all the correspondence of the Society under the direction of the Committee; and the Actuary and Secretary shall be required to give security, in accordance with section XVIII. of the Building and Land Societies' Act, 1866.
Committee Meetings and quorum.
17. The Committee shall meet as often as may be necessary, in such place and at such hour as they may from time to time determine upon (fixed in accordance with Rule III.), for the purpose of conducting the business of the Society; the President, or Chairman, and a majority of the members of the Committee for the time being, shall constitute a quorum, and have power to act.
18. No member of the Committee shall be allowed to be present or vote on any question in Committee in which he is personally interested, but in matters relating to his personal conduct, he shall be allowed to be present during the discussion of such question.
19. The Committee shall have power to fine, or remove from office, any of its own officers, for neglect of duty, or misconduct, on a complaint in writing being made to them stating the accusation, and signed by the party so complaining; such officer having ten days' written notice thereof, signed by any two of the Committee, and if such officer do not on the following Committee meeting, give a satisfactory explanation to the Committee then present, they, or the major part of them, may fine or remove him from his office.
20. The Committee may at any time, inspect the books and accounts to be kept by the Actuary and Secretary, and shall determine what salary shall be paid to him. The books and accounts shall also be open at any time to the inspection of the Trustees or the Treasurer.
21. The President, or Chairman, or any three of the Committee, shall have power to call a special meeting of the Committee at any time; and the Committee, or thirty shareholders, shall have power to call a special meeting of the Society, by giving six days' notice thereof to the Actuary and Secretary, specifying the cause of the meeting, who shall immediately summon a meeting of the Society.
22. The Surveyor and Valuator shall, if required by the Committee, examine such lands and buildings that may be offered as a security to this Society, and make a separate, full, and correct report thereof, in writing, at the next Committee meeting, and shall be allowed for such examination and report, such sum as the Committee shall decide upon.
23. It shall be competent for the Committee to make the best arrangements in their power for obtaining proper valuations; and the Actuary and Secretary shall, debit the expense attending the same to the member offering the security; the fee in all cases to be paid by the member previously to the survey being made.
24. The Committee shall be entitled to receive two pounds for
every Committee meeting, the number of such meetings for which payment is made, not to exceed 15 in any one year, and the sum of one pound for every monthly meeting of the Society they may attend, such sums to be divided equally among the members of the Committee actually present at the hour of meeting.