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Maps, plates, charts, etc., may be filmed at different reduction ratios. Those too large to bo entirely included in one exposure are filmed beginning in the upper left hand corner, left to right and top to bottom, as many frames as required. The following diagrams illustrate the method: Les cartes, planches, tableaux, etc., peuvent dtre film6s d des taux de reduction diffdrents. Lorsqiie le document est trop grand pour dtre reproduit en un seul clich6, 11 est filmd A partir de Tangle supdrieur gauche, de gauche d droite. et de haut en has, en prenant le no"Tibre d'images n6cessaire. Les diagrammes suivants illustrent la mdthode. 1 2 3 1 2 3 4 5 6 FRONTENAC LOAN AND g«ri,^i t Sijrid [Constituted pursuant to Act of Parliament.] THOMAS KIRKI'ATRICK President DU. HORATIO YATES , Vice-President! HON. JOHN A. McDonald, m. p.p., R. J. CAllTWRIGHT, M, P. P., JAMI'.S MACNEE, KYbiiRT KENT, HON. ALEX. CAMPBELL, M. L. C, WM. G. HIND8, Cashier B. U. C, JOHN CREIGHTON, Mayob. THE COMMERCIAL BANK OF CANADA. A. J. McDONELL Solioitoe. TliOM^VS BRIGGS Manaojsr. KINGSTON, a W. 1863. \l i IIULES AND REGULATIONS. ■ ••> I. NAME AND OBJECTS OF THE OFFICE. This Society shall be called the "Frontenac Loan and Investment Society," aiul the intents and ])iirpose3 for which it is established arc, to assist the members thereof in the erec- tion or purchasing one or more dwelling-house or houses, or for any other purpose whatsoever; and to enable them to rc- <;eive the amount of their shares in advance, upon furnishing good mortgage security ; and to provide, for those wlio do not require advances, a safe and remunerative method of in- vesting small sums of money. IL UN advanced shares — MODE AND TIME OF PAYMENT. The Capital Stock of the Society shall consist of the unad- vanced shares of the members thereof, either fully paid up and invested as fixed or permanent Capital, or in course of accumulation. Each member shall pay thereon in advance, a monthly subscription of two dollars, in quarterly payments of six dollar's per share, during the full term of two years ; or such other sum as tlie Directors may from time to time detertnine, according to the number of years granted for montldy or periodical payments on each share, to commence and be paid on and from the iirst day of any montli in or after which he shall l)e admitted in respect of each share ; and shall also pay, on entering, a deposit of two dollars per share, jnaking the total payments on each unadvanced share Jifty dollars. After each share shall have been fully paid up, the amount so paid, with the net accumulated profits thereon, shall be due and payable to the holder thereof, and the said sharesniay then either be withdrawn from the Society or in- vested therein as fixed or permanent capital. in. All persons upon taking stock in the Society shall- sign the rules, in a book to be kept for that purpose, and shall then elect the term iu which such shure or sliares shall be paid up. Tiio time for which sharort may have been originally taken up, may on the application oi' tlie liolder thereof he changed to any other time on such tei-ins as the Director;* may from time to time determine. And the Directors shall have the power from time to time to limit the number of new shares taken, or to charge a pi-emium thereon, such pre- miums to form a part of the general funds of the Society gener IV. Periodical subscriptions and all re-payments, fmes and otJier payments, sludl be paid at the Society's OiKce, on the first day of the month in the quarter on which such falls due or when the first day falls on Sunday or a legal holiday, then' on the day following, until otherwise ordered by the 'Direc- tors. '' y. SnAllEHOLDERS PAYING IN ADVANCE. Shai-eholdcrs making an immediate deposit of money for the purpose of meeting inadvmice their i)eriodical dues,'shall be allowed interest on the amount so deposited, or so much thereof as shall remain after deducting instalments due at the rate of six per cent, per annum, or such lower or higher rate as the Dn-ectors may from time to time determine- or shareholders paying any certain number of periodical sub- Bcriptions in advance, may, with the consent of the Directors be allowed a like number of additional months' credit with- out being subject to fines. VI. POWER TO BORROW OK RECEIVE MONEY ON DEPOSIT. The Directors are authorised to borrow money on the as- sets of the Sotnety, or to issue debentures; to receive money on deposit m large or small sums, and to pay such interest therefor, and under such regulations as they may, from time to time, deem advisable; and to loan or invest such money either on mortgage or real estate, or in any other way they ttiay think best for the interests of the Institution, so lono- ^ m accordance with the Building Society's Act. VII. * . APPLICATION OF FUNDS. \A]\ moneys which shall from time be subscribed, paid or' im i «,nven to, or for the use or benefit of tlie Society, or wliidi 8hall in anywise belon^r t(, the Society, bIiuII, after i)rovi(lin<^ for the payment of the expenses and liahiHties of the Societ^^ he api)ropriate(la,nd appHed in paying off such sliareaas shall liave l)ecome due and i)ayahlo to the hohlers thereof, in the ])urcha3e of sucli shares as members may desire to witluh-aw, and in hums or advances to the several n'lembers. Should the funds of the Society not be taken up by the mend)ers at tlie usual rates charged by the Directors,' sucli funds nuiy be otherwise invested for the benefit of the Society at the di'scre- tioii of the Directors, of which members may, nevertheless, avail themselves. YIII. DIVISION OF PROFITS. The financial position of the Society shall be ascertained on the last day of December, in eaciryear, and tlie profits nnd losses shall then be ai)portioned equitably and equally between the investii\£!^ mendjers, in propoi-tion to tlie value of their shares, and the time for which they shall have l)een lueinbers, in respect thorcDf. But, if the Directors shall consider it ibr the advantage and well-being of the Society to set a])art a portion of such profits for contingencies, thev shall have the power to do so, and the same shall form a part of the general funds of the Society. Such portion of the net ])rofits thus ascertained and apportioned as shall appertain to shares which shall not have been fully paid n]>, shall be ])l_aced to the ci-edit of such shares, to be payable together M'ith^ the principal sum on their becoming due, and snch l)ortion of the net profits, thus ascertained and ai-»]iortioned, iis shall appertain to shares which shall have been fullv i)aid up and invested as fixed or permanent capital or shares in the Society shall be payalde to the holder of such share or shares. And if the Directors shall in their discretion see fit to declare a dividend at a senii-aniniai ])eriod, or to make a less reservation for eontingeneies on shares which, M'hen ])aid np, shall be invested as fixed or permanent capital, than on 8iich_ shares, as when paid up or due, are withdrawn from the Society, they shall have the powder to do so. And on shares becoming due during the currency of any year, the same proportion of profits shall be payable, as would have been paid at the date of tlie previous annual statement, nnless in the opinion of the directors, there are circumstances which render advisable an increased or decreased amount. 6 IX. ITIANSFEK OF RN.VRES. Any eliiiroliolder may tnuisler liia Hliare or sliarcs by call- ing aa entry ofsitcli transforto bo made in the books of tlio Society, in siiHi manner as tlie Directors may appoint, and upon i>ayment of the sum ot'flrty cents Ibr each transt'er, and thereupon the transferee (after tijiiniuf^ the rules) shall l>c entitled to all the privilegesof the original shareholder. X. WnilDKAWAL OF SIIAUES. ^ Any mond)er being desirons of withdrawing froTn tlie So- ciety, part or tlie whole of his unadvanced sluires, ])rovided such shares shall not have been invested as fixed or ])ernKi- nent capitul, may, at the discretion of tlie Directors, be nb lowed to do so, and may receive back the net amoimt of his periodical subscri})tions paid up, with interest at six per cent, per annum, deducting any lines, interest, or forleiture due or pai(l tliereon. Provided that no mend)er shall be entit't-d to receive interest on any share on which less than six monthly subscriptions shall have been ])aid. 1 hit the Directors ma'y l)ay a higher rate of interest than six ]>er cent, to mend)ers withdrawing, if tliey think it advisable to do so. XI. MODE OF OBTAINING AN ADVANCE OF ]\r0NEY, Any member entitling himself t(» an advance of a share or shares, shall give notice in writing, t.) the Secretary, of flu Fituation, tenure, description, and full ])articulars of the property proposed to be mortgaged hv such mend)er to the Society in such forni as the Directors shall prescrihe; and shall deposit Avith the Secretary all necessary title deeds and documents relating thereto, 'and also such sum as the Secretary niay consider requisite to meet any necessary cx- ]>cnses. Should any Shareholder decline to take up the amount awarded him, or fail to com]ilete the necessary securities to tlie satisfaction of the Direc*-ors vdthin one Jnontli, such member shall pay a fine of fifty cents per share, whether any deposit has been made or not; and the Directors may otherwise dispose of the money granted to such member. XII. ADVA^ff!EB — IKHV MADE, AffD ON WHAT 8ECUKITY. The DirectorH fihall liavc tlio power to roo;ulato the amonntH applicable for advances, the time and manner of making the same, the interest and bonus payal)le thereon, and at the time and amount of the re-payments to be made in respect thereof. Tlie re-paymejits on advanced Shares shall be for a iixed period, in respect of each share, and shall not be liable to the contingency of losses or profits in the business of rhe Society, and after a share has been advanced to any tnem- b(U', he shall take no part in the management of the affairs of the Society in respect thereof. XIII. The Directors may accept property situated anywhere within the limits of that part of the rrovince formerly Upper (yanada, or the unadvanced shares of any member of the So- ciety, as security for loans. XIV. All mortgage deeds and securities to the Society shall be prepared in such form, and contain such clauses, provisoes and agreements as the Solicitors for the Society shall think iit, with the approval of the Directors ; and that in case the mortgagor shall at any time or times neglect or refuse to ])ay his re-payments, nnes, fees, or other payments, for the space of three moyiths, then the Directors may, either with or Avithout the concurrence of the mortgagor, apj^oint a per- son or persons, with such salary or commission as they may think proper, to collect the rents and profits of the mortgaged premises ; with the same power of enforcing payment as tlH> mortgagor himself may possess; also, power to sell and dis- pose of such premises, by public auction, or private sale, Avlien the Directors shall think proper. And that in case the mortgagor shall be himself the actual occupier of such mortgaged premises, then the mortgage deed may contain stipulations that he shall become tenant to the Society, at a fair rent, to be named in such deed ; and the Directors shall liave power to distrain as between landlord and tenant. And the Directors shall have the power to make such arrange- ments for the repairing or keeping in repair, or for finishing or putting in orncr iiny out-buildings or other iniprOTcmciits, or for taking care of, and managing generally, the mortgaged property, as they shall deem exj)edient ; and all charges or And ^(mI f(» II )iri(i '•'rtsiiry in tlio nilos; ■M (liio inort- 8 cxpoiiHes attending' tlio rtamo, wlmll ])c paid by tlio mort .'ind hIihII Ik* a clmr^o upon the inortfjfajjjod'propertv. wlion any sale Hliall take place! of any j>r()perty inort<'ii tlic Society, tlu; Directorn hIhiII liavo ])()vvj''p to ref^u apply HO much of tlu' })un'liase money an will Iks nee to pay the same sum as would he requirens( to the Society, and to pay the wurplus thereof to the irapor. XV. INSUnANC'K OF MORT()A(}F,n PREMISES. All property, secured to the Society, consistinr? of huild- inp, shall he insured hy the mortc^nir^or, if required hy the directors, in such sum and otHcc as they shall think a.lvisa- l)lc ; and tlie policy or policies shall he in the name of r>r .criod any traae simii l.e commenced, or ere -tion made, or otiier matter or thing shall take place which would in any » way utl((('t the viilidiiv of the; Policy of Iiisnr.'iiU'O, tlic like HtiiteiiuMit Klmll \>v, given ; (iiul tlio iiit'iiiluM' iicfil('ctiii;i' to. S'vv HiU'li HtatcMMont hIimII pay a fine, at the diHcrction ho, at k-ast onci' in every year, HpjjointHomo competent [>orrion to ohtain all the intorni.'ition lie can with resjR'ct to trades, i^'c., carried on in and ahout the mortgaged premises, and to report u» the Dircctore accord I nyly xvrr. In caHo of damage hy fire, the Dire'jtors shall receive, from the Insurance Olllce, the amount j)ayahh! in respect of such damage ; and the receipt of the Treasurer of the So- ciety shall he a sutticient discharge, to the insurance Ollice, for the money therein expressed to he received ; and the Di- rectors shall have full power to settle and adjust with the Insurance OtKce any question relating to such insurance, and to accept the amount to he paid hy the Insuraiu-C! otliie, in respect to tlie damage done to the premises ; or to make such arrangements with tlie InsuruiU'c OtHce as to the re- hnilding or repairing of the said i)remises, or relating there- to, as the Directors shall think reasonahle. XVIII. The Directors shall, at their discretion, either lay out the money which shall he received from any Insurance OtHci; as aforesaid, or any part thereof, in repairing the damage done to the premises ; or retain and apply the same, or suCh part thereof, as they shall think fit, in or towards payment and satisfaction of the amount wdiich shall he due froni the mort- gagor to the Society, and ])ay the sui'i)luf!, if any, to the niortgagor, or to sucti other person as he shall (hy writing) direct to receive the same. XIX. SALE, EXCHANGE, OK REDEMPTION OF PROPEUTY ]\[ORTGAGED, If any meniher who shall have exe(nited a mortgage to the Society, shall desire to sell the mortgaged property, suhjeet to tlie mortgage, he sliull l)e at lil/erty to do so, with the consent of the Directors, upon first 'duly transfering the shares secured hy such mortgage, to the intended purchaser,. 10 in manner provided l)v these rules; and upon sue? transfer beinc^ completed, and all arreai's due to the Society, from the jnortgtigor, being paid, and the conveyance to the purchaser executed, su(*h purchaser siiall thenceforth become liable to pay all re-payments payable in respect of such shares ; and the T)i)-ectors may grant to the original mortgagor, and at his cost and cJua-ges, a release from all future liability in respect thereof XX. I^ shall be lawful for any member having executed a mortgage in favor of the Society, to substitute at his own ex- pense, and subject to the approval of the Directors, any other ])roporty, as secuj«ity to the Society, in lieu of the property < )rigin al ly mortgaged XXI. ^ If any member shall desire to have his property discharo-ed trom a mortgage to the Society, before the expiration of die hill term for Avhich it has been taken, he shall be allowed to aosoon payment of all re-payments, and any lines, fees, and other sums due in respect thereof, up to the time of tlie re- demption of such mortaid. When the fines on unadvanced shares equal the amount of subscriptions paid thereon, such share or shares, and the interest of any member in respe(;t thereof, shall be forfeited to the Society. Provided, that after any share shall be in default, the iJirectors shall have power to recover from such shareholder the amount due to the Society by an action of debt in any court of competent jurisdiction, XXIY. •BANKING ARRANGEMENTS. The Directors may make such arrangements with any of the Chartered Banks doing business in the City of Kingston, for the di'i)Osit of moneys and secui'itios belonging to the So- ciety, and for conducting other linancial matters, as they shall, from time to time, deem necessary. XXY. !N^o moneys shall be drawn from the Bank without the sig- nature of the President, (or in case of his absence, or illness, of the Vice-President,) and of the Treasurer. XXYI. GENERAL MEETINGS. PA General Annual Meeting of the members shall be held at the office or rooms of the Society, or such other place as the Directors may appoint, on the third Wednesday in the month of March in each year, for the purpose of electing three Directors to serve in place of the ones retiring, and for all other general purposes relating to the mauagement of the Society ; and at eaoh of the said General Annual Meetings shall he submitted a full and clear statement of the affairs of the Society for the year ending on the last day of December previous. XXVII. Extra General Meetings of the members of the Society may be called by the Directors, upon the mend)ers being notified of such meeting through tlie Post Office, or otherwise, at the discretion of the Directors. Any ordinary or special meeting I 12 of the members or Directors may l,e adjourned, from time to timv, and sncli business may be transact<^d nt J^hari; S meetings as n.ight bave bee'n tranie^efat tl e otSnL" ings from wliicb the adjournment took phJe. "^ XXYIII. ■^'OTJXG. The election of Directors sliail be bv ballot 'md it snr.b election, any member either personaHvpre^^e t c'.r m.re en e timf /m- ?"'• ^^'^^ "'^ '"^'"^>«^' sJ'fill vote at the ele"! t on of Directors or on any otiier question in resi^ect of nv shares within three months after he shall have Sn admit' 3 Mdinientft siiall bave been paid. "^ XXIX. DIRECTORS. KOTATIOX OF DIRECT0K8. anl'lt*';;;' v^l!:;';;'':::-^''"" '■^■'"■".«very A„n„al Meeting. W a,,|„,,„t„,e„t ; ox.ept tl,„t anvUircrtor, vl , Jibe ^ wl,o,n he l,ayl«! •;]'" '^ '''""^ ""'' '-""k "f ti,e Di^eeto,- to 13 XXXI. The Directors elected at the formation of the Society, or hereafter to be elected, shall continue in office till the elec- tion of their successors^, unless in case of disqualification o]' resignation. XXXII. The Directors shall, at a special meeting to be called for that purpose, or at any other meeting, if all the remaining Directors be present, liave power to till u]i any vacancy that may arise in their own body, or in any office of the Society, by a vote of not less than two-thirds of the Directors pre- sent ; and the Board shall have power to make any By-Laws and Regulations for the guidance of the Society, its Officers, Agents, arid Shareholders, provided that sucli regulations are not inconsistent with the general rules or the Acts under which the Society is incorporated. XXXIII. In the absence of both the President and Vice-President, the Directors present, at any meeting of the Board, shall have power to appoint a Chairman, pro. tem., and with such Chairman shall be competent to transact the business of the Society, four of whom shall be a quorum. XXXIV. If any Director shall die, or resign, or become incapable to act as Director, or become bankrupt, or insolvent, or com- pound with his creditors, or cease to hold the required num- ber ofunadvanced shares, or be removed from his office by a resolution of a special general meeting of the members, or shall for three months successively be absent from the meet- ings of the Board, without the consent of the Directors, he shall thereupon cease to be a Director of the Society ; and the Directors may appoint another member of the Society to be a Director in his place, as hereinbeibre provided ; and no Director shall, at any meeting of the Board, take part in any di' . iL^sion, or vote on any, question in which he shall be personuiiy interested. XXXV. The Directors shall be paid the sum of two dollars each foi' each Board or Committee Meeting they may respectively 14 have attended on the tmsiness of the Soeietv and shall 1.^ .ndenn„li„d out of tlie funds of the Society 'motrwie XXXVI. SOLICITOB8. One or more Solicitors slmll be appointed l.y tlie Directors who shall transact siicli necessary business of the bWy 5 the Directoi^ may require, for which he shall receive affair and reasonable allowance as ordered by the Directors. • XXXYII. nffl^i ^^''''*''' ^H^ investigate the title to any property oifered by any member as security to the Society and Sf m a 1 cases render to the Directors a report in wri n J' whetlK r such title be deemed by him good Lid sufRcTent ff^ he purj^oses -of the Society ; and shallVepa e ,d nSarv niortgagedeeds and instruments in faU of tl e si^Jety - 1 he Solicitor's and Surveyor's fees and other chaises shall ^^i;:t2^:.t'''''' -'-'-^^ wiioset:;s::t^[i^ XXXVIII. 8ECKETARY AND TREASURER. if i?tbSi''' •''•' '"^" '"Pl^^"^- ^ Treasurer and Secretary but Secret V .'^T,^ T ^'T"" '"" l^^^'^'^"^^ '^^' ^"^ies o/ 1 o hotroffiLs T^^^ ^^'^^ r^7 ^^W^^^"t one person to fill Dotn othces. Ihe Treasurer shall be empowered to rcr-oivr^ ;s:^iMfr^n "^^ "i "^ ''^'^'' tL ss:^^::;:^ ^ cct pt slia 1, 11 all cases, be a sufficient discharge' and ho hall deposit With the Bank all moneys as he shfa have on tv tu ' r^ rrr' '^ ^"^ ^"^"^^^-^^ doHa's The Seere ofLt' f *'"^'" "^.'"^"^g^ ^^' t^^« I^irectors or members b ok atdSj ketX""'" of all proceedings in the minuT: and issue all circu ars and notices to members wd ich mav froS/ time to time, be thought necessary by the DirS and nT form all otherduties thatthe nat4 o^i' his tiSma^ requ're; XXXIX. The Directors may, from time to time, at any of their usual 15 * meetings,^ appoint such persons as they tliink proper, to be officers of the Society; grant snch sahiries and eniohiinents as they deem fit, and pay the necessary expenses attendin