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 ^rS^rj-^- : 
 
 ACT OF INCORPORATION f^S 
 
 i^/n' 
 
 AND 
 
 BYE-LAW^S 
 
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 OF THE 
 
 DOMINION SAFETY FUND 
 
 LIFE ASSOCIATION. 
 
 INCORPORATED 25TH MARCH, 1881. 
 
 SAINT JOHN, N. B. 
 
 PRINTED AT THE DAILY TELEOBAPH STEAM JOB BOOHS. 
 
 1881. 
 
 ;.>>-,-; 
 
 iif.'ij '."^ 
 
i '« 
 
 AN ACT TO INCORPORATE 
 
 THE DOMINION 
 
 SAFETY FUND LIFE ASSOCIATION. 
 
 Furpoaes. 
 
 Be it enacted by the Limtenant Governor, LegUlative Council, mul 
 Aasembfi/, a8 follows: 
 
 1. James deWofle Spvkh, Jas. T. Hteeves, M. D., Thos. Temple, iKco»POK.«a8. 
 Foster MacParlane, M. D., W. H. Thorne, Chas. N. Skinner, Ohas. 
 J?. Clinch, and such other persons as may hereafter become shareholders 
 in the Association hereinafter named, their associates, successors and 
 assigns, shall be and hereby are constituted and declared to be a body 
 ix»litic and corporate by and under the name of "The Dominion Safety 
 Fund Life Association," and as such, shall be and hereby are legally 
 authorized to conduct the business of providing the protection of life 
 insurance for the benefit of those who may become certificate members 
 i« hereinafter provided of such Association, and their benificiaries 
 iipon a plan known and approved as the Safetv Fund and Equitable 
 Assessment System of Protection, and shall have perpetual succession 
 a corporate seal, and all other the powers and privileges incident to a 
 Corporation m the Province of New Brunswick. 
 
 2. The capital stock of the said Association shall be one hundred and -p.«u. 
 twenty thousand dollars, consisting of twelve hundred shares of one 1200 «harea, «ioo 
 hundred dollars each, and such shares shall be vested in the several per- **""' 
 sons who shall subscribe for the same. 
 
 3. In addition to the said shareholders there shall be admitted to Certiflcate mem- 
 membership in the said Association, as "Certificate Members," such per- '^"" 
 sons as shall from time to time apply for admission and be accepted and 
 
 certified as such members, and shall also have paid their stipulated 
 contributions as hereinafter provided towards the creation of the safetv 
 fund. '' 
 
 4. For the purpose of organizing the said Association Jas. deWolfe Provisional 
 Spuhr, Jas. T. Steeves, M. D., Tiios. Temple, W. H. Thorne, Foster ""■'"*""■ 
 MacFarlane, M. D., Cha8. N. Skinner, Chas. F. Clinch, shaU be 
 
 Capital. 
 
ACT OK INCOHPOUATION'. 
 
 8tovk noiik and 
 
 8iilm(:ri))ti<>ii for 
 
 sharuH, wlioru tu 
 
 be opoiiLd. 
 
 Powew 
 
 of Provisional 
 
 Direutore. 
 
 Buainegg to 1>e 
 
 managed by 
 
 u Board of seven 
 
 Directors. 
 
 Qualification. 
 
 Directors to bo 
 
 elected amiually 
 
 1st Wednesday 
 
 in February. 
 
 Provision 
 for the catling of 
 Doneral ineetuig 
 
 to elect 
 
 Directors before 
 
 the annual 
 
 meeting. 
 
 Time for holding: 
 
 annual general 
 
 meeting may be 
 
 changed. 
 
 The manner of 
 proposing 
 
 and electing 
 Directors. 
 
 provisional chroctors thereof, and they, or a majority of them, may cause 
 a stock book or stock books to be opened, in which shall be recorded the 
 subscriptions of such persons as may become shareholders in the sai«l 
 Association ; and that such book or books shall be oi>ened in the City 
 of Saint John and elsewhere at the; discretion of the said provisional 
 director, and shall remain open so long as they may deem it necessary ; 
 and that the saitl provisional directors are hereby authorized to manage 
 and conduct the business and atFaira of such Association until their suc- 
 cessors are elected an hereinafter provided. 
 
 5. The stock, property, business and concerns of the said Association 
 shall be managed and conducted by a board of seven directors, who shall 
 be chosen and elected in manner as hereinafter provided ; but no person 
 shall be eligible as a director unless he shall either hold in his own name 
 and to his own use at least ten shares of the said capital stock of 
 the said Association, or be a certificate member holding a certificate for 
 one thousand dollars or more, and in either case, shall hare ])aid all calls, 
 contributions, assessments and dues for which he may at any time pre- 
 vious have become liable and indebted to the said Association. 
 
 6. The directors shall be elected annually on the first Wednesday in 
 February in every yeai" at a general meeting of the shareholders and 
 certificate members, to be known as the annual general meeting, to be 
 held on that day at the City of Saint John in the manner hereinafter 
 provided ; but when and so soon after the passing of this Act as sixty 
 thousand dollars of the capital stock shall have been subscribed for as 
 aforesaid, and not less than fifty per per cent, thei-eof paid in, the said pro- 
 visional directoi-s may call a general meeting of shareholders and certifi- 
 cate members, at some place to be named by them, in the said City of 
 Saint John, by giving at least fourteen days notice of such meeting in 
 one or more newspapers published in the said City of Saint John ; and 
 such shareholders and certificate membere shall proceed to elect the num- 
 ber of directors above mentioned ii; the same manner for the remainder 
 of the year which shall elapse between the day of holding such election 
 and the day of holding the first annual general meeting of the Asso- 
 ciation. Nothing in this Act shall be construed to prevent the said 
 Association from altering, at any general meeting thei-eof, the day for 
 holding the annual general meeting. 
 
 7. The election of directors shall be held in the manner following, 
 that is to say, the shareholders present entitled to vote shall as a separate 
 body proceed to elect three directors from among the shareholders eligible, 
 and the certificate members present shall also separately proceed to elect 
 from the whole number of certificate members eligible three directors, 
 and the said shareholders and certificate members present then combining 
 
ACT OF INCORPORATION. 
 
 aa ono )»ocly, shall noniinato oiks or moro poraons oligi})le in oither class 
 to soive H8 diroctors and oloct one of those so nominated so as to niako a 
 l)6ard of seven directors as above provid»d ; all such elections shall bo 
 by nomination and ballot and be determined by a majority of the votes 
 cast. 
 
 8. The directors so elected at either such special or the annual general 
 meeting of the Association, shall continue in office until the next an- 
 nual general meeting, or until others are duly elected in their stead ; 
 they shall elect one of their members President and one Vice-President 
 of the Association. Should any vacancy occur in the board of directors 
 or officei-s of the said Association during the time for which they or any 
 of them may have been elected or appointed, owing to the death, resig- 
 nation, removal from the Province, or disqualification of any of them, 
 such vacancy may be tilled for the remainder of the year by the remain- 
 ing directors or a majority thereof, provided only, any such vacancy shall 
 be tilled by a member ot the class in which the vacancy occurred. 
 
 y. The only persons entitled to be present and to vote or vote by 
 proxy at any meeting of the Association, shall be shareholders and cer- 
 titicate members who shall have paid all calls, contributions, assessments 
 or moneys then due by them. At all meetings of the Association each 
 shareholder and certificate member shall be entitled to vote in the man- 
 ner following, that is to say, each shareholder shall have one vote for 
 every share held by him for a period of not less than fourteen days pre- 
 vious to the time of voting thereon, and each certificate member shall 
 have one vote for each certificate registered in his name ; such votes 
 niay be given either in person or by proxy, the holder of the proxy being 
 himself either a shareholder or cei-titicate member, and having deposited 
 his pro.vy with the Secretary of the Association at least fourteen days 
 prior to the day on which it shall be used, tlie cojiditions upon which the 
 right to vote by proxy may be claimed shall be the same as if the voter 
 were personally present. All questions proposed for the consideration of 
 the shareholders and certificate members shall be determined by the 
 majority of votes cast, and the chairman presiding at any meeting 
 shall be entitled to vote as fully as if he were not such chairman. In 
 case of an equality of votes given, the chairman shall also have the cast- 
 ing vote. 
 
 10. All shares of the capital stock subscribed for shall, until at least 
 fifty per cent, of the amount so subscribed shall have been paid up, be 
 subject to such calls for payment to be made, either on subscribing or 
 after subscribing, or partly before and partly after subscribing, by one 
 or more instalments, and at such times and places as the directors, 
 whether provisional or other, shall appoint. After fifty per cent, of the 
 
 Dirootors t<> 
 
 contimio in ottico 
 
 until utliu'g aro 
 
 elected in their 
 
 steaii. 
 
 President and 
 
 Vice-President 
 
 elected 
 
 by Board of 
 
 Directorg. 
 
 Vaeaiicicg 
 
 to be Hllod l)y 
 
 Direotora. 
 
 Who entitled to 
 vote. 
 
 Manner uf voting 
 
 Proxies to be 
 deposited with 
 the Secretary 14 
 
 days prior to 
 meeting. 
 
 'Questions 
 
 detennlned by 
 
 [.majority of 
 
 votes. 
 
 Shares subject 
 
 to calls, 
 and manner of 
 making calls. 
 
6 
 
 ACT or INCORPOHATION. 
 
 Special provision 
 
 fur a 
 
 Ifuaruiitoe fund 
 
 iii<(l when no 
 
 luiigor required 
 
 how to 
 di<|K>«o of It. 
 
 Nefflect to 
 
 pay calls impliea 
 
 a forfeiti.ro 
 
 of BharcB. 
 
 amount HubsciiJKjd shall have l)een thus called and paid up, no one call 
 or hiHtalnunt shall exceed ton i)er cent, and not less than one month's 
 notice shall l,o gi\«n either by personal service or in a public newspaper 
 pul)lihhed in 8aint John aforesaid, of any call or instalment required to 
 be paid upon such subscribed stock ; in case of the decease of any sub- 
 scriber, his executors or administrators and estate shall bo liable for the 
 payment of any call. 
 
 11. When and so soon as it shall appear to the directors, provisional 
 or other, to be necessary or desirable, and they shall decide to apply to 
 the Minister of Finance; for the Dominion of Canada for a license to 
 transact the business of the Association, hereby incorporati^d under cer- 
 tain provisions of "The (^usolidated Insuiaiu^e Act of 1877," of the 
 Dominion of Canada, whereby it shall become necessary to deposit with 
 the Receiver General of the said Dominion any stated amount of public 
 or other securities for the purpose of meeting the requirements of the 
 said Act, the said directors shall be and they are hereby authorized to 
 make a special assessment and call upon each of the several shareholders 
 as shall consent to bo so assessed, and to pay such a sum per share, as will 
 procure the required amount of said securities, and to accept in payment 
 from the several shareholders so assessed such public or other approved 
 .■securities as they may agree upon for the amount so required in lieu of 
 money for the i)urpose aforesaid ; provided ahmyn, that the securities so 
 to be deposited shall, when so deposited, be deemed to be and shall theie- 
 after become and be treated as a loan to the Association, to be charged 
 against the safety fund of the said association, out of which fund it shall 
 be the duty of the said directors, so soon and as often as any payments 
 towards the said safety fund shall be received by them, to invest such 
 receipts in similar or other securities of equal value with which to return 
 and pay back to the said several shareholders the amount of their respec- 
 tive loans as aforesaid ; and it shall be imperative upon the said directors 
 thus to pay off the said loan by instalments or in one sum, as they may 
 be able or determine so to do, and that the interest accruing upon each 
 and all the securities so loaned shall, as it accnies, be paid to the respec- 
 tive shareholders who shall have severally loaned the same, until the 
 said loan shall have been ])aid off as aforesaid. When the said loan shall 
 have been paid off as aforesaid, the securities deposited with the Receiver 
 General as aforesaid shall be deemed to be and thereafter shall be con- 
 tinued as a deposit made for and on account of the Dominion Safety 
 Fund. ^ 
 
 i2. If any shareholder shall neglect or refuse to pay any call or instal- 
 ment lawfully due by him, the directors may cause the share or shares 
 upon which the same may be due, together with any other shares held 
 
 I 
 
 ■ '--Jtfc^fcrBftirl- «jtv:i 
 
10 one call 
 10 inonth'H 
 lowHpapor 
 equired to 
 ' any sub- 
 Jo for the 
 
 rovisional 
 ) apply to 
 license to 
 mder cer- 
 '," of the 
 )osit with 
 of public 
 its of tho 
 lorized to 
 rehokkus 
 I'e, as will 
 payment 
 approved 
 in lien of 
 urities so 
 all thoie- 
 ! charged 
 d it shall 
 mynients 
 vest such 
 to retui'n 
 ir respec- 
 directors 
 hey may 
 pon each 
 e I'espec- 
 intil the 
 )an shall 
 Receiver 
 be con- 
 i Safety 
 
 ir instal- 
 ir shares 
 res held 
 
 ACT OF tXCOnPORATION. 
 
 by the same person, and all amounts previously paid thereon, t.) be for- 
 feited in such manner a« may lu>reatter Ih) provided by the by-laws of the 
 said Association. Any share so forfeited may be sold by the directors 
 at public sale after such notic, as they or such by-laws may .lirect ; and 
 the moneys arising fro.n any such sale shall be applied by the directors 
 to the puri)oses of th<^ said Association ; provided always, that if such 
 moneys sliall exceed nil arrears due and interest togethei- with the 
 expenses of sale, the surplus shall bo paid to the owner of the forfeited 
 share or shares or his legal representatives upon denmnfl ; and provided 
 also, that no more shares sluill Ijo sold than may be deemed necessary to 
 pay such arrears, interest and expenses. If payment of such arreai-s of 
 calls, interest and expenses Iw made before any share or shares so for- 
 feited shall have been sold, such share or shares shall revert to and bo 
 vested again in the owjier as if such forfeiture had not taken place. 
 
 13. In all actions or suits for tho recovery of such calls or instalments 
 due and unpaid, it shall be sufficient for the .said Association to allege 
 that the defendant, being the owner of a share or shares therein, i,. in- 
 debted to the Association in such sun. of money as shall be so due and 
 unpaid for sucli and so many share or shares, whereby a right of action 
 hath accrued to the .said Association under and by virtue of this Act, 
 and on the trial of any such action or suit, it shall not be necessary to 
 prove the appointment of the directoi-s who made any such call, or any 
 nuitter or thing, other than such as are before mentioned. A copy Jf 
 any by-law, rule or regulation, or of any minute or entry in any book 
 or books of the said As.sociation, certiHed by the President oi- Secretary 
 of the Association, under the corporate seal thereof, to be a true copy of 
 such by-law, rule, regulation, minute or entry, shall be received in all 
 Courts and proceedings as prhnrf fade evidence thereof, without further 
 proof thereof, of the said seal or the signature or official character of 
 officer signing the same. 
 
 14. At all meetings of the directors three shall form a quorum for the 
 transaction of business, of whom the president or vice-president shall be 
 one; and at all such meetings the president or vice-president acting as 
 cliairman, sliall be entitled to give tho casting vote only. -, 
 
 15. At the annual general meeting of the Association, 1)e8ides the 
 election of directors, any business of the Association may be transacted, 
 and at each such meeting a general balance sheet or statement of the 
 affiiirs of the Association, with a list of all shareholders, and the registers 
 of the certificate members, and all such further infonnation as shall or 
 may be required by the by-laws shall be laid before the meeting. And 
 at such annual or any general meeting of the Association, the stockholders 
 by a majority of the votes which may be given at such meeting, may 
 
 Forfeited Nimreii 
 
 may lie mhl, 
 
 how til iipply th« 
 
 prrK'eoilN, 
 
 If payment of 
 arreiirs, kv., lio 
 
 niiiilu prior to 
 mile, BJmrus to 
 ravert to owners. 
 
 It) actloiitior 
 euits, wliat may 
 
 1)0 iillcKetl 
 
 anil what lut 
 
 iicccHgary to 
 
 prove, 
 
 Evidence 
 
 from l)y-laws, 
 
 minutuR, &c., 
 
 under seal to bo 
 
 received in all 
 
 Courts, &c. 
 
 of Di 
 
 luorum 
 irectors. 
 
 Chairman to give 
 a casting vote. 
 
 As to proceeding 
 
 at annual 
 general meeting. 
 
-^ 
 
 8 
 
 ACT OF INCORPORATION 
 
 decide and order whether any, and if any, what remuneration slmll bi> 
 allowed to the president, vice-president and directors, or any oi the'a), 
 from time to time, as may be deemed expedient. 
 special 16. Special general meetings of the Association may be called and 
 
 ^^mSy beTaUea!'' held from time to time, as required, and in such manner as may be pro- 
 vided by the by-laws; and at all meetings of the Association the presi- 
 Prcsun..^ omcer dent or vice-president, or in the absence of both, a director chosen by 
 ,„aysive%astinfr ^^^ ,i,eeting shall prcsido, who, in case of an eriuHxity ot votes on any 
 division, shall have iK)wer to give the casting vote only. Provided only 
 that a fourth part in value of the shareholders may at any time call or 
 cause to be called, a special meeting of the Association, to consider all 
 matters mentioned in the notice for such meeting. 
 General powers 17. The directors siiall have the full i^ower and authority of making 
 u^^.s. all by-laws, rules, regulations and ordinances, and of amending, altering 
 ., ,:p,tvai ..t and repealing the same as thev may deem expedient; for the nuuiage- 
 generai meeting. ^^^^^ ^^^^^ disposition of its stock, property, business, estate and eilects; 
 the calUng of meetings general or special, the regulation of the meetings 
 and i.roceedings of the directors; the administration of the affairs of the 
 Association and the making or causing to bo made for the Association 
 any -ont-aet or contracts into which it may legally enter; the regulation 
 of the allotment and tmnsfer of stock; the making of calls thereon; the 
 declaration and payment of dividends; the appointment and removal ot 
 all agents, officers and servants of the Association and the appointment 
 aj^.d regulation of their functions and duties, and the security to be given 
 by them and their remuneration; and the place at which the annual or 
 other meetings of the Association shall be held. Provided only, that 
 no by-law, rule, regulation or ordinance, nor any amendment or repeal 
 of any by-law, rule, regulation or ordinance, made by the directors 
 shall continue or be in force or of effect, beyond the next annual general 
 meetin^? after the adoption or passing thereof, unless confirmed by buch 
 
 annual general meeting. . , „ , • i 
 
 18 No transfer of any share of the said Association shall be valid 
 until entered on the ..ooks of the said Assocation, according to such 
 form as iii^y from time to time be prescribed by the by-laws; and until 
 the wjiole of the capital stock of the said Association is paid up, it shall 
 be ner-ssary to obtain the consent of the directors to such transfer being 
 made, provided always that no shareholder indebted to the Association, 
 shall be permitted to make a transfer or receive a dividend until such 
 debt is paid or secured to the satisfaction of the directors: and no 
 transfer of stock shall at any time be made until all calls thereon have 
 been paid in. 
 
 Provision 
 
 ,vs to transfer ot 
 
 shares. 
 
 I 
 
 M 
 * 
 
 Hi 
 
-^ 
 
 hhall bp 
 of theiii, 
 
 lUed and 
 ly be pro- 
 tho presi- 
 liosen by 
 ?s on any 
 ideil only 
 nr call or 
 nsider all 
 
 )f making 
 y, altering 
 3 r.ianage- 
 nd eft'ects ; 
 B meetings 
 aii's of the 
 iissociation 
 regulation 
 ereon; the 
 removal of 
 )pointment 
 to be given 
 annual or 
 only, that 
 t or repeal 
 le directors 
 .ual general 
 ed by buch 
 
 ill be valid 
 ns to 8uch 
 ; and until 
 up, it shall 
 insfer being 
 A.ssociation, 
 I until such 
 ars; and no 
 liereon have 
 
 I 
 
 ACT OF INCORPORATION. 
 
 19. In the event of tlie property and asssets of the said Association 
 being insufficient to liquidate its debts, liabilities and engagements, the 
 shareholders shall be liable for the deficiency; but to no greater extent 
 than the amount of the balance remaining unpaid upon thtnr respective 
 shares in the capital stock ; and any shareholder transferring his stock 
 shall, notwithstanding such transfer, continue liable to the extent men- 
 tioned in this section, for all debts, ]ia))ilities and engagements of the 
 Association made and incurred before such transfer; provided that pro. 
 ceedings for such liabilities are commenced within six months thereafter; 
 notwith.'-tanding such liability the transferee of such stock shall also be 
 and continue liable as a shareholder as above mentioned, but the whole 
 liability of both transferer and transferee shall not exceed the amount 
 of the balance remaining unpaid as aforesaid. 
 
 20. The shareholders of the Association shall not as such be held 
 responsible for any act, default or liability whatsoever of the Association, 
 or for any eiigagement, claim, payment, loss, injuiy, transaction, matter 
 or thing whatsoever, beyond the amount unpaid on their respective shares 
 in the capital stock thereof, subject to the provisions of the next proceed- 
 ing section. 
 
 21. No person holding stock in the Association as executor, adminis- 
 trator, tutor, o-urator, guardian, or trustee, shall be personally subject to 
 liability as a sliareholdei-, but the estates and funds in the hands of such 
 person shall 'oe liable in like manner and to the same extent as the 
 testator, or intestate, or the minor, ward, or interdicted person, or the 
 ])"rson interested in such trust fund, would be if living and competent 
 to act and holding such stock in his own name ; and no peraon holding 
 such stock as collateral security shall be personally subject to such 
 liability, but the person pledging such stock shall be considered as hold- 
 ing the same, and shall be liable as a shareholder accordingly, 
 
 22. Every such executor, administrator, curator, guardian or trustee 
 shall represent the stock in his hards at all meetings of the Association, 
 and may vote accordingly as a shareholder. 
 
 23. The Association shall not be bound to see to the execution of any 
 trust, whether express, implied or constructive, in respect of any share, 
 and the receipt of the shareholder, in whose name the same may stand 
 in the books of tlie Association, shall Ije a valid and binding discharge 
 to the Association, for any dividend or money, i)ayable in res})ect of such 
 share, and whether or not notice of such trust has been given to the 
 Association, and the Association shall not be bound to see to the appli- 
 cation of the money paid upon such receipt. 
 
 24. Every director of the Association and his heirs, executors and 
 a(...iiinistrators, and estate and effects respectively may, with the consent 
 
 9 
 
 Liability 
 of shareholders 
 
 Limitation of 
 
 liability of 
 shareholders. 
 
 Executors, &c., 
 and tnistecs not 
 liable, but funds 
 
 in their hands 
 liable. 
 
 Lilbility defined 
 
 Executors, &c., 
 may vote. 
 
 Association not 
 
 bound to see to 
 
 trusts. 
 
 Directors may be 
 indemniflet! 
 
 out of funds of 
 association. 
 
10 
 
 ACT OP INCORPORATION. 
 
 Proceedings 
 
 requiring 
 
 authentication 
 
 need not be 
 
 under seal. 
 
 How notices may 
 be served and 
 
 and what proof 
 
 of service is 
 
 required. 
 
 The purpose and 
 
 object of 
 tlie nsHOuiation. 
 
 Power 
 
 of Directors to 
 
 make contracts 
 
 and the nature 
 
 of the same. 
 
 of the Association, given at any general meeting thereof, from time to 
 time, and at all times be indemnified and saved harmless out of the 
 funds of the Association, from and against all costs, charges and expen- 
 ses whatsoever, which he shall or may sustain or incur iu or about any 
 action, suit or proceeding which shall be brought, commenced or prose- 
 cuted against him, for or in respect of any act, deed, matter or thing 
 whatsoever, made, done or permitted by him, in or about the execution 
 of the duties of his office; and also from and against all other costs, 
 charges and expenses which he shall sustain or incur in or about or in 
 relation to the afiaii-s thereof, except such costs, charges or expenses as 
 shall be occasioned by his own wilful neglect or default. 
 
 2.5. Any summons, notice, order or proceeding requiring authentica- 
 tion by the Association, may be signed by any director, manager or 
 other authorized officer of the Association, and need not be under the 
 common seal of the Association, and the same may be in writing, or in 
 print, or partly in writing and partly in print. 
 
 26. Notices requiring to be served by the Association upon the mem- 
 bers, may be served either personally or by sending them through the 
 post in registered letters, addressed to the members at their places of 
 abode, as appearing on the books of the Association. A notice or other 
 document served by post by the Association on a member, shall be taken 
 as served at the time when the registered letter containiiig it would be 
 delivered in the ordinary course of post; to prove the fact and time of 
 service it shall be sufficient to prove that such letter was properly ad- 
 dressed and registered, and was put into the Post Office, and the time 
 when it was put in, and the time requisite for its delivery in the ordi- 
 nary course of post. 
 
 27. The purpose and object of the said Association shall be to consti- 
 tute the shareholders therein agents and trustees, to alFord facilities, 
 ways and means for establishing the business aforesaid upon the plan in 
 Act set forth, for the mutual benefit of the shareholders and of the cer- 
 tificate members, so that under and by virtue of this Act and of the 
 termp and conditions of the certificates and agreements to be issued by 
 the Association, and entered into by such members, the certificate mem- 
 bers shall on the one hand pay into the Association certain stipulated 
 admission fees, contributions, yearly dues and mortuary assessments, and 
 on the other hand receive from the Association the benefit of the per- 
 formance of the duties of managing and conducting the said business 
 and of the security afforded thereby. 
 
 28. The directors on behalf of the Association shall have full power 
 and authority to make and enter into such stipulations, contracts and 
 agreements as may be deemed necessary respecting the terms and con- 
 
 m 
 
tn time to 
 out of the 
 md expen- 
 fibout any 
 I oi' pi'ose- 
 ■ or thing 
 execution 
 ;her costs, 
 Liout or in 
 xpenses as 
 
 .uthentica- 
 anagev or 
 under the 
 ting, or in 
 
 I the mem- 
 rough the 
 L- places of 
 ce or other 
 
 II be taken 
 t would l>e 
 nd time of 
 roperly ad- 
 d the time 
 n the ordi- 
 
 p to coiisti- 
 l facilities, 
 the plan in 
 of the cer- 
 and of the 
 3 issued l>y 
 ticato mem- 
 stipulated 
 iments, and 
 of the per- 
 id Imsiness 
 
 full power 
 itvacts and 
 ns and con- 
 
 ACT OP INCORPORATION. 
 
 difcions upon which certificate members may be admitted to and may 
 contmue to enjoy the privileges of membership in the Association, and 
 hereui more particularly as follows : 
 
 (a) For the payment of fees, which shall go towards the compen- 
 sation of agents and medical examiners. 
 
 (b) For the payment of yearly dues, to be applied in the first place 
 to the paying of salaries and oftice, and other contingent expenses, and 
 the surplus, if any from this source, to be distributed among the share- 
 holders as a dividend or commission for managing the business of the 
 Association. 
 
 (c) For the payments required to be made for the creation of the 
 safety fund, the due investment of the fund and its application for the 
 security and benefit of the certificate members. 
 
 (d) For the payment of such mortuary assessments as from time to 
 tune it may be necessary to make, and the due application of the pro- 
 ceeds of such assessment ; and further, 
 
 (e) That certificate members shall be divided into classes, that is to 
 say, those who having become members and have paid their contributions 
 to the safety fund during any one year, to be styled the class of that 
 year, and so on year by year, and that tlie continuing members of the 
 class of each year shall, after five years, alone participate in the benefits 
 derivable from that portion of the safety fund which was contributed by 
 the :uembers of that class. 
 
 (/) That after five yeara membership the accumulated and accumu- 
 lating interest on that portion of the safety fund contributed by any one 
 class shall be apportioned and distributed to each member of such class 
 m proportion and according to the scale of his rates of assessment and 
 applied to the reduction of asses,sments in that class, with the object that 
 as each member's rate increases according to age the amount of his 
 assessments may be reduced by such distribution, so that in proportion 
 as the membership of any one class is lessened by death and lapse, so 
 will the dividends to continuing members of that class be increased until 
 their respective incomes from such dividends equal the sum of their 
 respective dues and assessments, and that any excess from this source, 
 that is to say, the accumulated and accumulating interest as aforesaid 
 thereafter, may be apportioned and distributed to the then existing mem- 
 bers in the said class in the form of annuities or added as an accumula 
 tion to that portion of the safety fund belonging to that class, to be dealt 
 with as hereinafter stated as the directors shall elect : 
 
 (g) That when the number of certificates in force in a class has been 
 reduced, so that the aggregate value thereof does not exceed the sum of 
 the portion of the safety fur.d contributed by that class, the several exist- 
 
 11 
 
i 
 
 12 
 
 ACT OP INCORPORATION. 
 
 ing members or their beneficiaries, as tlie case may be, shall be entitled 
 to be ],aid the full face value thereof on surrender; pi-ovided, hoivever, 
 that before any sucli class division of this portion of the safety fund 
 shall take place, the aggregate amount in the whole fund shall exceed 
 three hundred thousand dollai-s (being the sum hereinafter stated to be 
 required), to be maintained as the completed fund by the sum of the full 
 face value of the certificates so entitled to be surrendered, and that the 
 then existing members may have the benefit of retiring under what 
 would be equivalent to payment of a matured endowment policy. 
 
 (h) That so soon an the safety fund shall have accumulated to three 
 hundred thousand dollars, it shall be deemed and called the completed 
 safety fund, and maintained as such ; any excess in or additions to the 
 said fund to l>e subject to apportionment and distribution to certificate 
 members as hereinbefore stated ; und also, when and after the said fund 
 shall have been completed, if at any time and so often as from time to 
 time It shall appear that an assessment or assessments duly made and 
 collected, do not produce a sufficient sum to pay the full amount of any 
 matured claim or claims in respect to and for which said assessment or 
 assessments shall have been made, then the deficiency shall be provided 
 for by a payment of the required sum from the said completed safety 
 fund. '^ 
 
 i3?irlS l^" ^^"^ '*''^ Association shall have power to buy, acquire, hold, sell, 
 what 'way make exchange, convey, lease or mortgage real or other property and estate for 
 .nvo^tmonts. the purposes of the Association; and to invest available funds or moneys 
 of the Association as may be deemed expedient by the directors in 
 government, municipal or other good debentures or in securities by way 
 of mortgage on real estate ; but no loan or advance of any part of the 
 funds of the Association shall be made to any shareholder on any secunty 
 whatever. 
 
11 be (mtitlod 
 
 ded, Jioivever, 
 
 i safety fund 
 
 shall exceed 
 
 stated to be 
 
 m of the full 
 
 and that the 
 
 under what 
 
 olicy. 
 
 ited to three 
 le completed 
 itions to the 
 ;o certificate 
 he said fmid 
 'rom time to 
 y made and 
 ount of any 
 isessment or 
 be provided 
 leted safety 
 
 :!, hold, sell, 
 I estate, for 
 i or moneys 
 lirectors in 
 ties by way 
 part of the 
 ny security 
 
 BYE-LAWS 
 
 [Passed 2ndJune, 1881.] 
 
 MBBTINQS OF THE ASSOCIATION. 
 
 V\flyT^^} ^''u ''S^'" •"''^*"'^ ""^ ^^'^ Association shall be held in the 
 C.ty o Saint John Provuice of Now Brunswick, at such place and hour 
 
 neetTni 1^^^ '^^^^ ''f^^ ^'^^"^^^^ '"^ ^« ^"^'^ f«r calling a^ such 
 meeting. 1 he President shall call special meetings of the Association 
 
 whenever in hxs opinion, oT that of the Board of Directors, sursS 
 meeting shall be necessary; and also shall call special me'etS ortie 
 tlril r^ '"" T"''^* *" ^" '"^ ''y stockhddei^ representing by 
 ioZs ofthlT'"' Z ^I Pr^' «»«-^«"^-th part in value of the sW 
 
 ioldeis of the shares of the Association. Pour weeks continued notice 
 
 ^i'. ortrTn,"'' '"^ ""' "ti"f '' '^ «^^^'^^ ^y advertisen^t n 
 ont 01 more of the newspapers j.ublished in the City of Saint John im- 
 mediately previous to the time of holding such meeting. ' 
 
 HEAD OFFICE. 
 
 The Office for conducting the general affairs of the Association shall 
 
 ^X^:%^:' '""' '"'"'' °'- '"* °'"'"- p'»- - «- *-^- 
 
 DIRECTORS. 
 
 The Directors shall, without special notice, meet regularly at the Office 
 
 .y the Board. They may hold such special meetings as they shall deem 
 needful of which the Secretary shall give each cHrector notice which 
 said notice may be sent duly addressed through the Post Office 
 
 OFFICERS. 
 
 The directors shall annually make choice of a President, Vice-President 
 Secretary and Treasurer, and such other officers, agents and ^.J^^ 
 they „,ay deem necessary to carry on the business of the Ass^ atio^ 
 whose respective terms of office shall be from the date of appoSS 
 until their successors are chosen. Any officer of the Associat oTmay be 
 dismissed from office by a vote of the majority of the directoi/nreS 7t 
 any legal meeting of the L ■ ...d. The offices of Secretary aTd Km-er 
 may be held by the same pe-.son. ^ -iieasuier 
 
 Presiaent.— The President shall preside at all meetings of the Board 
 of Directors, and shall have the superintendence of tl bush^esfan 
 
 subject to the rules and instructions of the Board. In the case of a 
 
14 
 
 BYE-LAWS. 
 
 vacancy by death, resignation or othemise «J /.^^^ .««"tS t rpS 
 orly other officer, ckrk, servant or agent of the ^f ""^^^°"' ' ^^^ 
 dent Lay liU the vacancy by appointing thereto such o^^er P™ is he 
 ly elect, until the Board of Directors may choose «^"f '^^ %^J^^ 
 
 rss, i!^ th:^fs\Ss-f^n^t t^^r^ 
 
 membe*hip, and countersign all checks and drafts for money. 
 
 Vice.President.-The Vice-President shall l-e-^^« .^^ ^^^^^^^^^^^^^^^ 
 +1,/ PrPQirlpnt and durin" such absence or when called upon by tno 
 pIS to a2t may Vorm any of th„ functions a,,lH.rta.mng to 
 
 the office of President. 
 
 Secretary—The Secretary, who may also serve as Treasurer, shall, as 
 SecittaTactin.^ under the instructions of the President, duly no ify al 
 Sn^'of le^^ssociation, and of the Board of directors ; take ^^^^^ 
 record minutes of the proceedings of the same m the ^o^^f ft?W 
 E purpose: prepare and keep proper books o '^^'^^^^f^^.^J;,^"^^, 
 uSs of the Association ; a stock ledger, cash book, and such other books 
 and mners iu such form as the directors may prescribe; conduct the 
 : t Snce :f the Association-all of which -id bc^^s^^^^^^^^^^^^ 
 correspondence shall be the property of the Association, "Y^"%ir, ,T aU 
 nnd under his charge, but open to the inspection ot the directors at all 
 wrcoun^u^gn^^^^^^ all certiticates of stock and other docu- 
 
 ments req r ng the signature of the President, and generally shaUper- 
 b n suTother services and duties as usually -PP^tJ'/'tn .^nd "nv 
 a corporate body. In the event of his absence or inability to attend any 
 meetiirof tl^^^^ o^' of the Board of Directors, a Secretary pro 
 
 tempore may be chosen. 
 
 Treasurer.-The Treasurer shall have the custody of all valuable papers 
 J documents of the Association, which, together with -chj;^f - 
 accounts as he may be required to keep m reference *« the /a^^^^^ shall 
 be subject at all times to the inspection and control «« the du^^ctors He 
 shall make his cash deposits in such bank or banks as the di ectors may 
 appoint as the money is received, and his bunk accounts shall be kept m 
 the name of the Association, and all checks to draw the same shall be 
 stnedbv the Treasurer and countersigned by the President or Vice- 
 pSent. He shall sign receipts and acknowledgements for all moneys 
 and other property of the Association that may come into his hands. He 
 Shi ato render a full and particular statement of his cash account, 
 accLpan^^^^^^^^ vouchers, at every annual meeting of the Association 
 or Toften as the President or Board of Directors may require, shewmg 
 the condiSon of the Association's financial affairs, and a simUar account 
 at ir War m^^ of the stockholders. He shall perform all other 
 
 dutts appertaining to the office of Treasurer. He shall give bonds with 
 surSy or Wes satisfactory to the directors, and in such sums not less 
 thin one thousand dollars iov more than ten thousand dollars as the 
 directoi may from time to time requii-e for the faithful performance of 
 his duties during his continuance in office. 
 
BYE-LAWS. 
 
 16 
 
 ) 
 
 _ Medical Snpe^'intendent.~lt shall bo the duty of the Medical Suner- 
 mtendeut to assist in the selection and appointnjent of duly qualified 
 and competent medical examiners; and -ive them such instructions 
 regarding then- duties as he may deem desirable or the Board of Directors 
 may from tune to time suggest. He shall promptly supervise all medi- 
 cal examiners reports on applications for membership and report thereon. 
 He shall keep such records of all ai)plications and medical examinations 
 as will enable him, when called upon, to afford such collated and foi-mu- 
 lated statistical information as may be required by tlie Association, ".nd 
 siiall carefully and fully guard the interests of the Association, as its 
 professional medical adviser. 
 
 Medical Examiners. —The ISIedical Examiners for this Association may 
 be appointed or removed by the President (such appointments or removals 
 te be submitted to the Board of Directors for their ai)proval) ui)on such 
 recommendation as lie may deem necessary. The duties of a Medical 
 Examiner shall be faithfully to guard the interests of the Association by 
 the exercise of groat caution in the recommendations for mem])er8hip. 
 He shall be disinterested in the acceptance or non-acceptance of any 
 application for membership. He shall give as perfect a portraiture of 
 the case of each applicant as may be possible after a careful examination. 
 He shall give to each question in the form prescribed upon the appli- 
 cation a decisive answer, and in case of doubt, shall give the Association 
 the benefit thereof. He shall carefully read the answers in the applica- 
 tion after it shall have lieen made out and signed by the applicant, and 
 when it appears that the applicant has had any disease or injury which 
 may impair his health and reduce his life expectation, he shall examine 
 the apjilicant upon such matters, and give the result of such examination. 
 
 AGENTS. 
 
 Agents.— ThavG shall l)e three classes of Agents for the promotion of 
 the business of this Association in soliciting eligible and desirable per- 
 sons to become members thei-eof, that is to say : General Agents, District 
 Agents, and Sub- Agents. The general agents shall receive their several 
 appointments under the hands of the President upon a resolution of the 
 Board of Directors, granting the same, subject to such terms and con- 
 ditions as may be exi)ressed in the said resolution. The district and 
 sub-r gents shall be appointed or removed from their several offices by 
 the President, who shall define their several districts or sub-districts and 
 duties. The name and address of each such aispointee, whether appointed 
 or removed, shall be laid before the Board of Directors, and each such 
 appointment or removal shall be subject to their confirmation at their 
 next meeting, or disallowed at such meeting. It .shall be the duty of 
 each General Agent to advise and assist the President in his choice of 
 persons to fill the offices of said district and sub-agencies, and to take 
 the general management and personal supervision of such agents, subject 
 to his instructions from the head office. He shall make frequent visits 
 to each district agent, and as far as })racticable to sub-agents also, for the 
 purpose of advising with and instructing them in the line of their several 
 duties. He shall take cognizance of the nature and the manner of the 
 performing of their several duties. He shall inspect and report as to 
 
J3 BYE-LAWS, 
 
 the efficiency or inefficiency with whicli the several agents are perfonu- 
 ing their several duties, and shall from time to time report thereon, and, 
 as occasion may suggest, recommend their continuance in, or removal 
 from office. It shall he his duty to advise with the Pnssident and as.sist 
 him in the matter of choice and api^intment of medical exauuners witlun 
 the district assigned to such general agent, and hy conferences with the 
 several propo.sed medical examiners, to know that they are graduates m 
 medicine from recognized colleges, desirable persons to appoint, and com- 
 petent for the performance of the duties to be assigned to them. 1^1 o 
 shall report as to the efficiency or inefficiency with which the several 
 medical examiners discharge their duties. 
 
 District Agmts.— It shall be the duty of District Agents with tlie 
 advice and concurrence of the General Agent to nominate sub-agents, 
 with or without their several sub-districts assigned to them, for appoint- 
 ment from the head office, and with the assistance of their siib-ageiits so 
 aT)pointed, thoroughly to canvass for meml)ers throughout then- several 
 districts; to instruct all ajjplicants in the knowledge of the manner in 
 which the protection of life insurance is afforded to those who shall 
 become members, and of what is expected of them in the prompt pay- 
 ment of their dues and assessments. District agents are to instruct their 
 respective su>>-agents in the line of their several duties ; to d.rect and 
 govern the work of sub-agents ; reciuiring their sub-agents to report to 
 the District Agent, and to 1)6 responsible to him for their doings. 
 
 Sub-Agents.— finh-Agents are to be nominees of District Agents, ap- 
 proved l)y the General Agent, and appointed by the President as herein- 
 before provided. They are to receive from and obey the instructions ot 
 their District Agent in the line of their duty, and report all their pro- 
 ceedings to him, 
 
 CERTIFICATE MEMBERS. 
 
 Application for Membership.— Any person in sound health, and of 
 <.ood moral standing, between the ages of fifteen and six-five, desiring to 
 become a member of this Association, may apply for such memberehip 
 on the form of application appended hereto, or upon such other form 
 as the Board may from time to time approve, to be supplied by the 
 officers or agents for that purpose. Each applicant will require to be 
 examined by a duly authorized medical examiner appointed by the Asso- 
 ciation. Each application, with the report of the medical examiner, 
 shall be submitted to the officers of the Association, and be subject to 
 their approval, or that of any three of them, and if approved, said appli 
 cant may become a member of the Association upon the terms and con- 
 ditions expressed in such certificate of membership as may be granted 
 upon the said application to the said applicant, which said certihcate 
 the President and Secretary are hereby authorized to issue, subject to 
 the conditions expressed in this bye-law, and of the payments required 
 under the following terms: 
 
 Admissim i'ees,— Admission fee to be paid on application for cer- 
 tificate — 
 
 For $1,000, ^}« 00 
 
 " 2,000 400 
 
 " 3,000 17 00 
 
 Ft 
 
 pa 
 cei 
 
 up( 
 C 
 
 15 
 
 J 
 
 (T 
 upon 
 each 
 thirt; 
 time 
 their 
 
 Sq, 
 certif 
 dollai 
 menti 
 with 
 requii 
 postp( 
 such 
 
 Foi 
 the pi 
 scribe 
 
>. 
 
 i 
 
 BYE- LAWS. ]- 
 
 Only three certificates of .«(1 ono «„«v, • i 
 Fen.alesli„nted to ..2,000, und;'fif'';:.toral^^^ "'" ' ""''' "'" 
 C^Medical examination included in above. 
 The above payable once only. 
 Dues, for Annual ExDenaea Dnou Oi nn 
 
 payable .$ 1.00 every 4 nmnths'in advan;: ^"" ''''""'" "" "''"'' '"^^'O^*^' 
 certificate. ^ '"''''"'' ^''^^'^«'. ^"'""'oncinfer with date of the 
 
 Mortuary Assessment.—Ewerv member ..hnll r.o„ 
 upon delivery of the certificate annnv i ^J """^ assessment rate 
 
 cercincate, ai)portioned according to the followi 
 
 mg 
 
 
 Age. 
 
 15 to 21 
 22 
 23 
 24 
 25 
 26 
 27 
 28 
 29 
 30 
 31 
 32 
 33 
 34 
 35 
 
 Rate. 
 
 iBO 70 
 71 
 72 
 73 
 74 
 75 
 76 
 78 
 80 
 82 
 84 
 86 
 88 
 90 
 92 
 
 Age. 
 
 36 
 
 37 
 
 38 
 
 39 
 
 40 
 
 41 
 
 42 
 
 43 
 
 44 
 
 45 
 
 46 
 
 47 
 
 48 
 
 49 
 
 50 
 
 Rate. 
 
 Age. 
 
 Rate. 
 
 •S 94 
 96 
 98 
 1 00 
 1 02 
 1 04 
 1 06 
 1 08 
 1 13 
 1 18 
 1 24 
 1 30 
 1 37 
 1 45 
 1 54 
 
 51 
 
 $1 63 
 
 52 
 
 1 73 
 
 53 
 
 1 84 
 
 54 
 
 1 96 
 
 55 
 
 2 09 
 
 56 
 
 2 23 
 
 57 
 
 2 38 
 
 58 
 
 2 54 
 
 59 
 
 2 72 
 
 60 
 
 2 92 
 
 61 
 
 3 14 
 
 62 
 
 3 38 
 
 63 
 
 3 64 
 
 64 
 
 3 93 
 
 65 
 
 4 24 
 
 (This Table is calculated on the basis that an assessmpnf o t 
 upon one thousand certificates of 81,000 eacirSnnvT^^^^^^^ 
 each cert ficate for one thous-md ,U\Lt\ Ti u I ^^^ '^ ^^^^^^ ""^er 
 thirty days after Sates of ot es s cT ^f ^ '^'''''''' P^>'' ^^^^in 
 time tojme on estimates bfr^ileS anf : sernTl'd ""f '"" 
 their officers, in advance of next accruing death clalLs^ ^'"'''''"' "'' 
 
 dollar on delivery of certificate, and the balance in tw! .1,"^* ^"' 
 
 inentsof three dollars each, as 'a eontributfon to t ^e ^^^^^^^^^^ 
 with the written permission of the said Association Th!^ • , ■^"*' 
 
 required to be laade towards the safety funfoi any mSth T^^^T' 
 postponed and made payable at such Ue7 times L^sfallbrrf' "''f ^' 
 such permission. ^" "® named in 
 
 Forfeiture of Membership.— The failure of a member to mnt« 
 the payments required as a condition of n.embTsb p, wuSn tVe"'^ 
 scribed time, shall work a forfeiture, but payment of'^krTfarrwSh fi^y 
 
18 
 
 BYE-LAWS. 
 
 per cent, added, may be afterwards n)ado, and such ineml)er reinstated 
 upon satisfactory proof of his good h(!alth being furnislied to the associ- 
 ation. 
 
 C'/nsses of Member ship. — (As authorized by Act, .Sec. 28, Sub-sees. E^ 
 F, (r, II.) ( E) Cert-.ticate members shall be divided into classes, that is 
 to say: those who have become members and have paid their contribu- 
 tions to the safety fund during any one year, to be styled the class of 
 that year, and so on, year by year; and that tlie continuing members of 
 the class of each year shall, after five years, alone participate in the 
 benefits derivable from that portion of the safety fund which shall have 
 been contributed by the members of that class. 
 
 Apportionment and Distribution of Interest on Safety Fund Invest- 
 ment. — (F) That after five years membership the accumulated and 
 accumulating interest on that portion of the safety fund contributed by 
 any one class, shall be apportioned and distributed to each member of 
 such class in proportion and according to the scale of their assessment in 
 that class, with the object that as each member's rates increase according 
 to age, the amount of his assessments may be reduced by such distril>u- 
 tion, so that in proportion as the membership of any one class is lessened 
 by death and lapse, so will the dividends to continuing members of that 
 class be increased until their respective incomes from such dividends 
 equal the sum of their respective dues and assessments, and that any 
 excess from this source, that is to say, the accumulated and accumulating 
 interest as aforesaid thereafter may be apportioned and distributed to the 
 chen existing members in the said class in the form of annuities, or 
 added as an accumulation to that portion of the safety fund belonging 
 to that class to be dealt with, as hereinafter stated, as the Board of 
 Directors may elect and determine. 
 
 As to ultimate payments from Safety Fund inform of Endowments. — 
 (G ) That when the number of certificateo in force in a class has been 
 reduced, so that the aggregate value thereof does not exceed the sum of 
 the portion of the safety fund contributed by that class, the several 
 existing members or their benificiaries, as the case may be, shall be 
 entitled to be paid the full face value thereof on surrender; provided, 
 however, that before any such class division of this portion of the safety 
 fund shall take place, the aggi-egate amount in the whole fund shall 
 exceed three hundred thousand dollars (being the sum hereinafter stated 
 to be i-equired), to be maintained as the comj)leted safety fund, by the 
 sum of the full face value of the certificates so entitled to be surrendered, 
 and that the then existing members may have the benefit of retiring 
 under what would be equivalent to payment of a matured endowment 
 policy. 
 
 Completed Safety Fund. — (H) That so soon as the safety fund shall 
 have accumulated to three hundred thousand dollars, it shall be deemed 
 and called the Completed Safety Fund, and maintained as such; any excess 
 in or addition to the said fund to be subject to apportionment and dis- 
 tribution to certificate members as hei-einbefore stated ; pi'ovided always, 
 that when and after the said fund shall have been completed, if at any 
 time, and so often as from time to time it shall appear that an assess- 
 
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 Went or assessments fli,?„ ^ i ^^ 
 
 then the M^LTiTr"""'' °' ^e^nien s Z[l tvTl '" ""'T' 
 
 TJ B d ACCOUNTS. 
 
 Th« T . TBANSPER BOOKS 
 
 The Transfer Books of tha a ■ • 
 
 ""= ^0«'^-;0N SAFETY TOD UPE ASSOCUXIOX 
 
 No....... CAPITAL »120.00o. 
 
 This is to certify that 
 Stock of the Doniininn ooi^ i t. I^roprietor of c, Shares. 
 
 And transfers of ^f u P^eoidenL 
 
 on the Stock Certifier '""^ '"' """l" <>" the following, form eudo,.ed 
 
 ^r v.,:ri7'""r H T '"'"' "™ ^^^'"''-"OK 
 
 hand this 
 
 Witness, 
 
 'J^yof in the year of our Lord 
 
Vf 
 
 BVR-LAWS. 
 
 TRANSFERS OP STOCK. 
 
 TrjiiiHfoi-H of Stock uhall bo iimclo on tho hooks of tho AHsociation hy 
 tho Hocnitiuy, witli tho sanction of the Pi-esidout first had, oithcr hy t\w 
 Imldcn- in ii«)rson or l>y his attnrnoy, only on surrondor of tho cfrtificate. 
 In tho ovont of loss of any Stock Cortihcat*;, tho Board of Directors may, 
 on satisfactory proof thereof, issue a duplicate certificate, taking such 
 guarantoo from tho lioldor thereof as thoy may deem necessary for the 
 protection of those concerned. 
 
 SEAL. 
 
 Tho Seal of the Assocnation sliall bo round, with the words— "The 
 Dominion Safety Fund Life Association, Canada," on the outer circle ; 
 on the inner circle the motto, "Non mihi sed lueis vivo" ; and "Incor- 
 porated 1881" ; and in the centre a Beaver. 
 
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