rochdale equitable pioneers' society rules

7/27/2019 Rochdale Equitable Pioneers' Society Rules

1/40

$ -^^-^q^j^^ONo

Member's Name \)

Rochdale Equitable Pioneers' Society Limited.


2/40

ytv ;>*


3/40

The Rochdale Equitable Pioneers' Societywas established in the year 1844, and enrolled under theFriendly Societies' Act.

In the year 1852, the Industrial and Provident Societies'Act was passed by Parliament, which gave great facilities toCo-operative Societies. On October 23rd, 1854 this Societypassed a resolution to go under that Act ; several Societieshaving been formed which worked well under it. It wasfound necessary to apply to Parliament again for a furtherextension, and in the year 1862 an Act was passed whichgave still greater powers and facilities to such Societies.

The following are among the benefits derived from beingenrolled under the Industrial and Provident Societies'Act, 1862 :

1. The rules are binding, and may be legally enforced.2. The liability of members is limited to the number of shares

taken up by them.3. The property of the Society is vested in the name of the

Society.4. Protection is given to the members, their wives, and children,&c, in enforcing their just claims, and against any fraud-

ulent dissolution of the Society.5. Fraud, committed with respect to the property of the Society,

is punishable by justices or county courts.6. Disputes settled by reference to justices or arbitrators, and

the order of justices or arbitrators to be final ; with powerto award compensation to any member if unjustly expelled.

7. Members may inspect the books, and the names of the mem-bers at all reasonable hours, at the registered office ofthe Society.


4/40

ADVICE TO MEMBERSOF THIS AND OTHER SOCIETIES

1st.Procure the authority and protection of the lawby enrolment.

2nd.Let integrity, intelligence, and abillity be indis-pensable qualifications in the choice of officers and mana-gers, and not wealth or distinction.

3rd.Let each member have only one vote, and makeno distinction as regards the amount of wealth any membermay contribute.

4th.Let majorities rule in all matters of govern-ment.

5th.Look well after the money matters. Punish fraudwhen duly established by the immediate expulsion of thedefrauder.

6th.Buy your goods as much as possible in the firstmarkets ; or, if you have the produce of your industry tosell, contrive if possible to sell it in the last.

7th.Never depart from the principle of buying andselling for Beady Money.

8th.Beware of long reckonings. Quarterly accountsare the best, and should be adopted when practicable.9th.For the sake of security, always have the accountedvalue of the " Fixed Stock" at least one-fourth less thanits marketable value.

10th.Let members take care that the accounts areproperly audited by men of their own choosing.

11th.Let committees of management always have theauthority of the members before taking any importantor expensive step.

12th.Do not court opposition or publicity, nor fear itwhen it comes.13th.Choose those only for your leaders whom you

can trust, and then give them your confidence.


5/40

RULESOF THEROCHDALE EQUITABLE

PIONEERS' SOCIETY(LIMITED,)

Adopted at Special Meetings called for that purpose,Jan. 8th, Jan. 22nd, and Feb. 5th, 1877.

ROCHDALE:Gilbert Haworth, Machine Printer, Stationer, &c,

48, Yorkshire-Street.


6/40

3ST O T I O IE .The Cash Book and the metallic cheques mustbe left ao the Society's Registered office, on orbefore the Mondayprevious to the day appoint-ed for Stock Taking. The Stocks are taken onthe first Tuesday of each of the months ofMarch, June, September, and December ineach year ; and the Cash Books are requiredin order that the Interest and Dividend maybe added to the Member's Account.A receipt will be given for the Book andcheques, wnich must be produced before theBook can be returned.Members are requested to see that the rightnumber of cheques is entered on the receiptbefore leaving the office.Members are requested to get their smallcheques exchanged for one pound cheques asoften as possible during the quarter, and toarrange them in one pound lots, so that theycan be readily counted. But avoid bringingthem on Fridays or Saturdays, as the shop-men are generally busy on those days.

All persons are requested to examine theircheques and change before leaving the countersin the shops or offices, as no mistake can after-wards be rectified.No Interest is allowed on money withdrawnduring the quarter.

Interest is allowed on all contributions ofeven pounds from the 9th of each month.The Office is open every day from 9 a.m. tohalf-an-hour before time for closing the shops.


7/40

That all former Rules be hereby rescinded.

EULE8.Name, Object, and Place of Office.

1.This society shall be called the " Rochdale Nan*e.Equitable Pioneers' Society Limited."

2.The object of this society is to carry on the obiect -trade of general dealers, manufacturers, and the buyingand selling of land.

3.The office of this society shall be at the society's RegisteredStore, in Toad-lane, Rochdale, in the county of Lan- office -caster, where all the books of accounts, securities, anddocuments of the society shall be kept, other thansuch, if any, as are required for carrying on businesson account of the same elsewhere ; but the place ofbusiness may be altered by the committee ofmanagement.

4.In the event of any change in the situation of Notioeofthe registered office, notice of such change shall be Registeredsent within 14 days thereafter to the Registrar in office -manner and form provided by the Treasury Regulationin that behalf.

Admission of Members, including Societies andCompanies.

5.The society shall consist of the present members Admissionof the Rochdale Equitable Pioneers' Society, andof M ^ 8all other persons who shall be afterwards admitted inthe following manner :


8/40

6How

admitted. 5a.Aperson wishing to become amembermust applyat the office to the secretary, or other officer appointed.He must state his name, residence, and occupation,and be proposed and seconded by two members of thesociety. He must also (at the time of application,)sign a declaration stating his willingness to abide bythe rules, and take out not less than five shares, andpay a deposit of not less than one shilling on accountof the said shares, together with an entrance fee ofone shilling, and threepence for a copy of these rules.Complete lists of the names, residences, and occupa-tions of all persons who have applied to becomemembers in manner hereinbefore-stated, shall besubmitted to the next weekly meeting of the committeeof management for their approval ; and if any personwhose name is on the said list shall be objected to bythe majority of the committee of management thenpresent, the name of the said person shall be erasedfrom the list. These lists, attested by the signaturesof the president and secretary for the time being shallbe hung up in the society's Central News Room, forthe inspection of the members three clear days at leastprior to the next monthly or quarterly meeting ofmembers following their approval by the committee ofmanagement ; and if at the said monthly or quarterlymeeting objection be taken, by a majority of themembers present at such meeting, to any of thepersons named on any of the said lists, such personor persons shall not be admitted as members of thesociety ; but all other persons named thereon shall beconsidered to be finally admitted. All persons objectedto by either the committee of management or themembers shall have the whole of the money whichthey shall have paid into the society returned.

Minimum 5b.No person shall continue to be a member of theper member society who does not purchase from the society to theextent of at least 4 per annum.Admission 5c.Any society or company registered by Act oforCompaies Parliament and whose shares are limited may becomea member of the society on application to the com-


9/40

mittee of management, and subject to their approval,and subsequent sanction of the members in mannerherein provided for individual members.

6.A list of members' names and residences shall Members,be kept at the registered office of the society, whichshall be open to their inspection, and no personshall be deemed a member unless, or until, his nameappears on this list. And the committee of manage-ment shall cause the names of all persons who underthese rules cease to be members, to be erased there-from.Mode of Holding Meetings, Right of Voting, and

of Making, Altering and Rescinding of Rules,7.That general meetings of the members be General and

holden on the first Monday in each month, at half- Meeting*past seven o'clock in the evening, and that the meetingson the first Mondays in January, April, July, andOctober, be the quarterly meetings of the society, atwhich meetings the officers shall make their reports, inwhich shall be specified the amount of funds and valueof stock possessed by the society.

8.That the ordinary general meetings of the q^^8 oimembers be,1st, for the approval or rejection of Generalnew members ; 2nd, for the approval or otherwise of Meetinss -the minutes of the committee ; 3rd, for discussingthe affairs of the society ; 4th, for explaining theprinciples and rules of the society ; 5th, for makingsuggestions for the ' guidance of the committee ofmanagement.

9.The general meetings of the educational Educationaldepartment shall be held on the second Mondays in Men^VJanuary, April, July, and October, at half-past seveno'clock in the evening, for the purposes following :For receiving the report of the committee ; for em-powering the committee to make special arrangementsfor extending the sphere of this department and for anyother business connected therewith. The educational


10/40

8committee shall not be allowed to take any newpremises without the sanction of the committee ofmanagement, or that of a quarterly meeting of thesociety.

special 10.A special general meeting may be convened atMeetings, anY ^me m vi^ue of a resolution of the committee, bya notice being posted in the meeting room and the

principal places of business of the society, specifyingthe time and objects of the meeting six clear days atleast before the meeting ; or by any fifty members, ongiving in like manner six clear days' notice thereof inwriting, specifying the object, signed by them.%3* No other business can be transacted at any

such meeting than the business specified in the noticeconvening it.

Place of and n.All general meetings shall be held at the chiefconstituting place of business of the society, or at such other placea Meeting. ag any quarterly meeting may determine ; and no

quarterly or special general meeting of the societyshall proceed to business unless at least fifty membersof the society be present within one hour of the timeof meeting, otherwise such meeting, if it be theordinary quarterly meeting of the society, or a specialgeneral meeting, convened by the committee ofmanagement, shall stand adjourned to that day week ;but if it be convened by notice from the members shallbe absolutely dissolved. But any general meetingmay adjourn from time to time for any period notexceeding fourteen clear days ; and no meeting shallbe rendered incapable of transacting business by thewant of a quorum after the chair has been taken.

Notices of Ha.No resolution of a Quarterly Meeting, ofAmendment which one month's notice shall have been given, beforesubmitting the same for consideration, shall be

rescinded or amended except after a similar noticeshall have been given of the intention of proposingsuch abrogation or amendment.


11/40

912.At all meetings of the society, each member Voteg#

shall have one vote only, except the president whoshall have a casting vote in addition to his own, as amember.

13.No new rule shall be made, nor any of the Alterationrules herein contained or hereafter to be made, shall oI Rules *be repealed or altered, except by the vote of amajority of two-thirds of the members present at aspecial general meeting of the society, to be called inpursuance of a requisition by fifty or more members,by fixing such requisition, and setting forth the day ofholding such meeting, in the place where the businessof the society is transacted, four weeks next beforesuch general meeting.

Appointment of Officers and Committee of Manage-ment, their respective Duties, and Mode of

Conducting Business,14.The management of this society shall be

vested in a committee, consisting of the president, f^c


12/40

1014.Candidates for the committee of manage-

ment and for all other offices of the society shall benominated at the monthly meeting, immediately pre-ceding the quarterly meeting, at which they areproposed for election. Should the number nominatednot be sufficient to fill the vacancies, the quarterlymeeting shall elect the required number not sonominated.

Managem'nt l^.The general management of the society shall,of Business subject to the provisions hereinafter contained, be inthe committee of management, who shall have the

control of all business carried on by or on account ofthe society, the determination of the persons to beemployed therein, and the rates of payment to bemade to such persons, the appointment of salesmenor other servants necessary for conducting the sameand may assign to any such servant such duties andsalaries as they may think fit. All members of thesociety shall, in respect of any work or service whichthey may perform, for or on behalf of the society, bepaid after such rate of payment as the cdmmittee maydetermine.

Mode of 16.(a) All moneys received on account of contribu-Businessng tions, donations, admissions, fines, or otherwise, shall

be paid to an account to be opened with some bank,selected by the committee of management, in the nameof the society, unless the finances of the society aretoo small to allow of such an account being kept ; inwhich case they shall remain under the care of thetreasurer, and all such moneys shall be applied towardscarrying out the objects of the society, according tothe rules thereof. And so much of the funds of thesociety as are not wanted for immediate use, or tomeet the usual accruing liabilities, under the provisionsaforesaid, shall, with the consent of the quarterlymeeting, or a special general meeting of the members,be invested by the committee of management. Thebusiness of the society shall be conducted for readymoney.


13/40

11(b) Every year before the 1st June, the committee Annual

of management shall cause the secretary to send to Registrar?the Registrar the annual return, in the form prescribedby the Chief Registrar of Friendly Societies, requiredby the Industrial and Provident Societies Act, 1876,of the receipts and expenditure, funds and effectsof the society, and of the number of members of thesame up to the 31st December then last inclusively, asaudited and laid before a general meeting, showingseparately the expenditure in respect of the severalobjects of the society, together with a copy of theauditor's report, if any.

(c) Such return shall state whether the audit hasbeen conducted by a public auditor appointed underthe Industrial and Provident Societies' Act, 1876, andby whom ; and if such audit has been conducted byany person or persons other than a public auditor,shall state the name, address, and calling or professionof each of such persons, and the manner in which,and the authority under which, they were respectivelyappointed.

(d) It shall be the duty of the committee of Reports andmanagement to provide the secretary with a sufficient sheets.number of copies of the annual return for supplying,gratuitously, every member or person interested in thefunds of the society, on his application, with a copyof the last annual return of the society for the timebeing ; and it shall be the duty of the secretaryto supply such gratuitous copies on application ac-cordingly.

(e) It shall be the duty of the committee of manage-ment to keep a copy of the last annual balance sheetof the society for the time being, together with thereport of the auditors, if any, always hung up ina conspicuous place at the registered office of thesociety.


14/40

12Duties ofCommitteeof Manage-ment.

X

Duties ofPresident,

17.The committee of management shall meetevery Thursday evening, at half-past seven o'clock,and any six of the committee shall form a quorum. Itshall in all things act for and in the society's nameand all acts and orders under the powers delegated toit shall have the like force and effect as if they werethe acts and orders of a majority of the members ofthe society at a general meeting thereof. Everyquestion at such meeting shall be decided by amajority of votes. Any two of the committee may calla special meeting thereof, by giving one clear day'snotice in writing to the secretary ; but at such specialmeeting no other business than that specified in thenotice shall be taken into consideration. The com-mittee shall convene all meetings of the society onsuch requisitions as are herein mentioned, and shallalso cause the accounts of all business carried on onbehalf of the society, to be regularly entered in properbooks ; and shall cause a statement of the accountsof the society, to be made out up to the first or secondTuesday in the months of March, June, September,and December in each year, so as to give not less than27 days between the time of taking stock and thefollowing quarterly meeting, and also so as to avoidhaving a quarter consisting of 12 weeks only. Thisstatement together, with all necessary vouchers, shallbe laid before the persons appointed to audit the same,not less than ten days before the day appointed forthe quarterly meeting of the society. All other com-mittees, whether educational or otherwise, which areor may be formed in connection with this society, shallbe subject to the above committee.

18.The president shall act as chairman at allmeetings of this society, and should he not be presentat any of the society's meetings, the officers and mem-bers present shall elect one from amongst themselvesto act as chairman on that occasion. The president,or chairman acting in his absence, shall sign allcontracts, also the minutes of the proceedings at eachof the society's meetings, and shall have the castingvote, besides his own vote as a member.


15/40

1319.The secretary shall give his attendance at all Duties of

meetings of the society, and of the committee of Secretary-management ; summon all special meetings of thecommittee, and record correctly the names of the saidcommittee there present, and the minutes of theirpreceedings, which he shall transcribe into a book, tobe authenticated by the signature of the chairman asthe proceedings of the meetings ; he shall countersignall contracts, and shall on all occasions in the execu-tion of his office, act under the superintendence,control, and direction of the said committee. Anassistant secretary may at any time be appointed bythe committee of management.

20.The treasurer shall be responsible for such Treasurer,sums of money as may from time to time be paid intohis hands by the secretary, or by any person onaccount of the society, and for the investment orapplication of the same under the authority of thecommittee of management, in such manner as theyshall direct ; he shall see that the cash account isbalanced weekly, and shall supply the committee witha duplicate thereof when required.

21.Every person appointed to any office touching securitythe receipt, management, or expenditure of money for cerTan?"the purposes of the society, shall, before entering upon others,the duties of his office, give such security as is thoughtsufficient by the committee of management for thetime being.

22.At any quarterly meeting of the society, the Payment. ., n ,/ ^ i J t in of Officers,majority ol the members present may assign to the

committee, treasurer, secretary, auditors, or any otherofficer of the society, such remuneration as seems tothem desirable.

23.No servant of this society shall serve any servantsoffice in the committee of management, nor be allowed officers?to vote for any candidate for the committee ofmanagement, or be an auditor on any accountwhatever.


16/40

14

cattonof" 24 -Any member of the committee of managementCommittee shall be disqualified from remaining on the com-mittee if he holds any other office or place of profitunder the society, except such as may beassigned according to rule 22 ; if he becomesbankrupt or insolvent ; if he is concerned in orparticipates in the profits of any contract with thesociety. But the above rule shall be subject to thefollowing exceptions : That no member of the com-mittee shall vacate his office by reason of his being amember of any company or society which has enteredinto contracts with, or done any work for this society.Nevertheless, he shall not vote in respect of suchcontract or work ; and if he does so vote, his voteshall not be counted.

EducationalCommittee. 25.A separate and distinct account shall be keptof the allowance for educational purposes, as pro-vided by rule 40. This fund shall be under themanagement of a special committee, consisting of thepresident of the society for the time being, and tenmembers, five of whom shall be appointed at thequarterly meeting in April, and five and at the quarterlymeeting in October, and retire alternately. The educa-tional committee shall be held responsible to the quarterlymeetings of the society for the proper disposal of thefund placed under their care, and shall not be allowedto vote away any portion thereof to be spent or dis-posed of by any other party. They shall appoint achairman from amongst themselves.

Officers notor second 26.No president, secretary, treasurer, or othercoUeaguei. member f the committee, while in office, shall be

allowed to nominate or second any member to serveon the committee of management.

Menibers' Limitation of Amount of Members 1 Share Investment.interest in

27.No member, other than a registered societyshall, subject to such restrictions as shall from timeto time be determined by a quarterly meeting, be


17/40

15entitled to an interest in the shares or funds of thesociety exceeding the sum of two hundred pounds.Power to Accept Loans, including Juvenile Savings'

Deposit Department.28.The committee of management may from time Loans,

to time, for the purposes of the society, obtain by wayof loan from an}^ person, society, or company, whetheror not a member of the society, on security of bondssigned by three at least of the committee and counter-signed by the secretary for the time being, or suchother security as shall be agreed upon between thecommittee of management and the lender. The totalamount of the sum or sums so borrowed shall notexceed such sum or sums as shall have been approvedby a majority of the members present at a quarterlyor special meeting, and shall not at any time exceedtwo-thirds of the amount of the declared share capitalof the society.They shall be empowered to give such rate of

interest not exceeding six per cent, per annum,and subject to such terms of repayment as shall beagreed upon.

29.The committee of management may receive Juveniledeposits of not more than five shillings in smj one ^fd Loanpayment, nor more than twenty pounds from any Departmentone depositor, payable on not less than two cleardays' notice. They may agree to pay upon suchdeposit such rate of interest not exceeding fiveper cent, per annum, as may from time to time seemto them desirable.

Share Capital, Hoiv Paid Up, Notice forWithdrawal.

30.The capital of this society shall be raised inshares of one pound each, which shall not betransferable, except in the case mentioned in rule 37.


18/40

16

share Each member must hold at least five shares, andcapital,how shall not pay less than three shillings and threepai up pence per quarter, until he has made up his five

shares ; and on default shall be fined threepence perquarter, unless the default is shown to have arisenfrom sickness, distress, or want of employment, orany other reason satisfactory to the committee ofmanagement, in which case a written statement of thecause of default shall be sent to the secretary at thetime at which such payments ought to be made,otherwise the fines shall be in force. Profits arisingfrom member's trade when not withdrawn may beconsidered as contributions to shares. Any membermay pay the whole or any part of his shares inadvance.

-Recovery * 31.All sums due from any member under thetions. provisions of these rules, for contributions to shares

or otherwise, shall be recoverable from him, hisexecutors, or administrators, by legal process, as adebt due to the society.

Repayment 32.Should the committee of management havereducSoiTof more funds on hand than they can profitably invest,shares. they shall have power in the first place to repay all

loans contracted under the 28th rule, and should theystill have too much money, shall reduce the numberof shares held by the members, the highest being thefirst paid off. Members may allow their surplusshares to remain in the funds of the society afterthe time of notice has expired, but shall not receiveinterest thereon.

withdrawal 33.Members may withdraw any sum above o ;according to the following scale of notice, subjecthowever to the discretion of the committee of manage-ment :2 10s. on application 50 to 75 6 weeks2 10 to 5 1 week 75 100 7 5 10 2 100 125 8

10 20 3 ;, 125 150 9 20 30 4 150 ,, 175 10 30 ,, 50 5 175 200 11


19/40

17Cases of Distress.

34.A member, being in distress, may withdraw cases ofany sum he may have in the funds of the society distress -above five shillings, at the discretion of the committeeof management, such member may however be calledupon to repay such withdrawal in manner providedby rule 30, until his shares again amount to not lessthan five pounds.

Members provided with Copies of Rules.85.It shall be the duty of the committee ofgg|80fmanagement to provide the secretary with a sufficient

number of copies of the rules, to enable him todeliver to any person on demand a copy of suchrules on payment of a sum not exceeding one shilling,and of the secretary to deliver such copies accordingly.

Appointment of Auditors and their duties.36.The committee of management shall once at Balanceleast in every year submit the accounts of the society, Sheet,

together with a general statement of the same and allnecessary vouchers up to the 31st December then last,for audit, either to one of the public auditors appointedunder the Industrial and Provident Societies Act, 1876,or to two or more persons appointed as auditors bythe members at the meeting next before each yearlymeeting of the society, and shall lay before every suchmeeting a balance sheet (which either may or may notbe identical with the annual return, but must not bein contradiction to the same), showing the receiptsand expenditure, funds and effects of the society,together with a statement of the affairs of the societysince the last ordinary meeting, and of their thencondition. Such auditors shall have access to all thebooks and accounts of the society, and shall examineevery balance sheet and annual return of the receiptsand expenditure, funds and effects of the society, andshall verify the same with the accounts and vouchers


20/40

18relating thereto, and shall either sign the same asfound by them to be correct, duly vouched, and inaccordance with law, or shall specially report to themeeting of the society, before which the same is laid,in what respect they find it incorrect, unvouched,or not in accordance with law.

Inspection of Books and Accounts.SSBooksn 37.The books and accounts of the society shall beopen to the inspection of any member or person having

an interest in the funds of the society, at all reasonabletimes, at the registered office of the society, or at anyplace where the same are kept, subject to such regula-tions as to the time and manner of such inspection asmay be made from time to time by the general meetings,and it shall be the duty of the secretary to producethem for inspection accordingly.

Withdrawal from the Society, and Payment ofDeceased Members'' Shares.

Withdrawal 38.A member who has paid up all his contribu-Bxciusion. tions may withdraw from the society ; and anymember may withdraw without paying up all his

contributions, with the consent of a majority of thecommittee of management. Upon the withdrawal orexclusion of any member, he shall receive payment ofthe capital advanced by him, with all arrears ofinterest and profits, if any, according to the provisionsof rule 33, or within six months after such withdrawalor exclusion. Any member having received anyinterest or participated in the profits, shall, in case ofwithdrawal from the society, forfeit such sum (notexceeding 2s.) as the committee of management maythink proper ; such forfeits to be applied to thereduction of the value of fixed stock.

Nomination 89.The secretary shall keep a book in whichRevocation ne sna^ agister or record all nominations made byby Members members of the society aged 16 years or upwards, by


21/40

19writing, signed by them, delivered at, or sent to, theregistered office of the society, of any person orpersons not being officers or servants of the society,unless any such officer or servant is the husband, wife,father, mother, child, brother, sister, nephew or neiceof the nominator, to whom the shares of such nomi-nator shall be transferred at his decease, provided thatthe amount credited to him in the books of the societydoes not exceed 50.The secretary shall in like manner record or register

all revocations or variations of such nominations bythe nominator, made in writing, and signed anddelivered or sent as aforesaid.

The nominator shall pay threepence to the manage-ment fund for the receiving or registering of everysuch nomination, revocation, or variation.

In receiving satisfactory proof of the death ofa nominator, the committee shall, at their option,either transfer the shares in manner directed in suchnomination, or pay to any person entitled thereunderthe full value of his interest, unless the shares tobe transferred to any nominee would raise his interestin the society to an amount exceeding '200, in whichcase they shall pay him the full value of such shares,not exceeding the sum aforesaid. An entry of suchpayment shall be made in the proper book, and there-upon the shares so paid for shall be extinguished.

40.Upon the death of any member, the person ^thofStnominated as aforesaid, or in the event of there being Memberno such nominated person, the legal personal represen-tative of such deceased member shall, within onemonth thereafter, give notice thereof, in writing, tothe secretary, stating the christian and surname, placeof abode, and profession or business of such nominatedperson or legal representative, as the case may be,or in default, shall pay a fine of one shilling ; nointerest will be allowed on deceased member's sharesafter the termination of the time such notice shouldhave been given, until legally transferred. Upon such


22/40

20notice being given, the share or shares of such deceasedmember shall be transferred into the name of suchnominated person or legal representative as the casemay be, or such other person or persons entitledthereto, as such representative shall direct, with theoption of payment by the committee of managementas aforesaid, according to scale in rule 33.

Members' ^1.If any member die leaving a will, or entitledShares. to a sum exceeding 50, the said committee shall, onproduction of the probate or letters of administration,pay over such moneys to the executors or administratorsaccording to scale provided in rule 33.

Provision 42.If any member become bankrupt, or registeredBankruptcy society being a member shall be wound up, the com-ciaims. mittee of management shall pay over to the trustees

of the property of the said bankrupt member; orsociety member being wound up ; all shares standingto their credit, upon the production on the part of thetrustees of a legal authority to receive the said shares.

Application of Profits.

Division of 43.The nett proceeds of all businesses carried onProfits by the society after paying or providing for the

expenses of management and interest on loans anddeposits shall be appropriated as follows :1st. To reduction of fixed stock, according to the

following ratio on the first cost. Fixtures andmachinery at ten per cent, per annum ; shopbuildings, warehouses, workshops, offices, andmeeting rooms at two and half per cent, perannum ; and cottage buildings at one percent, per annum.

2nd. All entrance fees and forfeits on withdrawal,shall be applied to reduction of such portion offixed stock as the committee of management shallfrom time to time determine.


23/40

213rd. Interest not exceeding at the rate of five per

cent, per annum shall be credited quarterly tothe account of each member upon the sharecapital standing to his credit in the books of thesociety.

4th. One half the excess, if any, of the interests anddividends received from the investments of thesociety including rents upon shops and otherfixed stocks in use by the society, and the balanceof all rents received from cottages and otherproperty belonging to the society over and abovethe interest allowed upon the loans, deposits, andmembers' share capital shall be carried to a fundto be called " The Investment Keserve Fund,"which shall only be appropriated by direction of aquarterly meeting to meet losses upon any of theinvestments of the society ; for the purposes of theabove, calculation shall be made upon the averageof the three previous quarters' accounts.

5th. Two-and-a-half per cent, of the re-mainder, after the provision for reduction offixed stock and interest upon capital as aforesaid,shall be carried to the account of the educationalfund, besides the cost of room, light, and fuel.

6th. The remainder shall be divided among themembers of the society in proportion to the amountof their purchases during the quarter.

7th. The profits upon goods supplied to non-mem-bers, together with all fractional parts of a pennyin the division of profits, shall be carried to a fundto be called the reserve fund. This fund shallaccumulate and shall only be appropriated bydirection of a quarterly meeting, either to someprovident purpose or to the reduction of someportion of the fixed stock ; but no appropriationof the reserve fund shall be allowed unless onemonth's notice of the intention to propose suchappropriation shall have been given.


24/40

22Complaints, Suggestions, and Injurious Conduct.

Complaints 44.-If any member have any complaint to makeand relative to the qualities or prices charged for goodssupplied by the society, or respecting the conduct of

any of the servants or officers of the society, suchcomplaint shall be sent to the committee in writing,signed by the member complaining or some othermember on his or their behalf, and shall be investi-gated and decided upon by the committee, suchdecision to be entered in their minute book ; and ifsatisfaction be not given by their decision, the samemay be brought before a general meeting of the mem-bers ; and if not then settled to the satisfaction of theparties complaining, shall be referred to a quarterlymeeting. Any member may likewise send to thecommittee in writing any suggestions for carryinginto better effect the objects of the society, whichshall be considered by the committee.

Publication 45.The name of the society shall be kept paintedSociety, and affixed on the outside of every office or place

in which the business of the society is carried on, in aconspicuous position, in letters easily legible, andshall be engraven in legible characters on its seal, andshall be mentioned in legible characters in all notices,advertisements, and other official publications of thesociety, and in all bills of exchange, promissory notes,indorsements, cheques, and orders for money and goods,purporting to be signed by or on behalf of the society,and in all bills of parcels, invoices, receipts, andletters of credit of the society.

injurious 46.The committee of management may suspendConduct. any member who persists in any conduct injurious tothe society, until they submit the same to a generalmeeting, (of which the offender shall have three cleardays' notice), which shall have power to expel suchmember. No person so expelled shall by the votesof a majority again be re-admitted, except of themembers present at a general meeting ; nor unless


25/40

23notice has been given at the last previous generalmeeting of the intention to propose his re-admission.

Seal of the Society.

47.The society shall have its name engraven in Society'slegible characters on a seal; the seal shall have for adevice as follows, "a figure of a woman with a pairof scales and a sword, treading on a serpent, and aman with a pick on his shoulder, in the distance," itshall be in the custody of the president, and it shallbe used only when directed by resolution of thecommittee of management, a minute of which reso-lution shall be duly recorded by the secretary.

Investment of Capital.Building Department.48.The committee of management may, if they o?ceapitaintshall think fit, invest in any company, established

under the Companies' Acts, with limited liability,or under the Industrial and Provident Societies' Act,1876, or under the Building Societies' Acts, or inany other society or company incorporated by Actof Parliament or by charter having limited liability,or in any railway company of Great Britain orIreland, any part of the surplus funds of the society,at such rate of interest and upon such terms as torepayment or otherwise as may be agreed upon ; andmay purchase land and buildings, and make advancesto members of the society on security of property inmanner provided in rules hereinafter mentioned.

BUILDING DEPABTMENT.49.The committee of management may, subject buy seu^andonly to such restrictions and limitations as shall from mortgagetime to time be imposed by resolution of members buildings.

at a quarterly or monthly meeting, purchase, or holdupon lease or mortgage, any lands, together with thebuildings thereon, and may build or erect any houses,cottages, or other buildings, on any lands from time to


26/40

24time held by the society, whether for the purposes ofthe society or not, and may alter, pull down, and againrebuild any building, whether erected by the society orotherwise vested in it ; and may manage, lay out, lease,and sub-lease such landseither at rack rent on buildings,mining, quarrying, or improving leases, or otherwise,howsoeverand either to members of the society orother persons ; and may dispose of, sell, mortgage,convey or reconvey, either to members of the societyor other persons, any lands or buildings, for the timebeing held by the society ; and may appropriate to theuse of the society any purchase moneys or other moneysreceived in respect of rents of any lands or buildings

.-advance 50.The committee of management may, subjectmoney upon to the restrictions and limitations hereinbefore men-iand and tioned, advance any moneys out of the society's fundsbmidmgs.

.|. memDers f the society on the security of landsor buildings, subject to such scale of repayment and at

Advance not , , * . f .-, , x jto exceed such rate oi interest as is hereinafter mentioned, nofour-fifths such advance to exceed four-fifths of the ascertainedvalue.No advance value of the said security ; but no advance shall at anyupon second ^me De ma^e upon the security of any property thatmortgage, shall be subject to any previous mortgage.

51.As soon as convenient after the registrationof these rules, and at the first committee meeting afterthe ninth day of January, in each year, the committeeof management shall appoint two competent valuers toinspect all property offered as security to this society ;and any member of this society desirous of applyingfor any advance of money from this society to assisthim in buying land, building any house, houses, cot-tages, or other buildings, or desirous of effecting amortgage upon any land, houses, cottages, or otherCommittee buildings already erected, shall give notice in writing

ment to ge ^ the committee of management, who shall instructinstruct the valuers to inspect the said property, or in case ofon receiving buildings not erected shall examine the plans andappUcaUon specifications of the buildings proposed to be erected,for advance, and the valuers shall furnish a written report thereon


27/40

25to the committee of management, upon forms provided n^ke reportfor that purpose, within six days, of all matters per- to Com-taining to such property. The said report shall contain Managementthe following particulars 1st. The name of the personor persons making the application. 2nd. The situationof the property offered as security, giving number ofhouse and name of street when practicable. 3rd. Thenumber of yards of land, with a pen and ink plan of itsshape, and particulars of the boundaries. 4th. Whe-ther the land is leasehold, copyhold, or freehold, andwhat is the term for which it is held ; and, if leasehold, partiCUiarswhat is the date of the lease. 5th. What is the annual to be givenground or chief rent, or other charge, if any, upon the report,property. 6th. What is the value of the property, or,in case of buildings not erected, what will be the valueof the property when the said buildings are completed.

52.When the committee of management shall be wh thsatisfied that the lands or buildings so to be offered as advance isaforesaid are a sufficient security, and when the person to be made -or persons to whom the said land and buildings belongshall have executed a mortgage or assurance of the saidlands or buildings in such form as shall be deemed to morr of e orbe sufficient security by the committee of management assurance.for the time being, under the advice of their solicitor,they shall direct the president and secretary to pay tosuch person the sum or sums of money he, or she, orthey shall be entitled to receive, and the president shall ...Jrresidpnt tcvtake charge of the said deed, and all other deeds depositrelating thereto, and deposit the same in the society's go^S,fire-proof safe, as a security to the society that the said safe,advanced moneys shall be repaid according to theconditions and regulations hereinafter mentioned.

53.If any member of the society, before applying A memberfor an advance of money, shall be desirous of ascer- may knowtaining what sum of money the committee of manage- ingfor an Jment are willing to lend upon any property, notice shall *haUhebe given to the valuers in manner beforementioned, and Committeethe valuers shall inspect the said property, and make can en 'their report thereon to the committee of management,and the committee shall make known to the said person


28/40

26

Members to ^e sum ^hey w^ advance thereon on the conditionspay expense herein contained, and the person on whose behalf then inspection and valuation has been made shall pay allthe expenses thereof, whether a loan is effected or not.

Notice of 54.Every person to whom an advance of moneyrent, to be shall have been made on the security of any land orCommittee DUllding which is subject to the payment of any yearlyor half-yearly ground or chief rent, or other annual

charge, shall, whenever required so to do, furnish tothe secretary of the society a statement containing theamount of such ground or chief rent, or other payment,the times at which they are respectively required to bepaid, and the names and residences of the personsentitled to receive the same, and shall from time to

Recei t of ^me ' ^ anc^ whenever so required, produce to therent to be secretary of the society for the time being, a receipt orproduced, voucher showing that the said payments have been

iduly made, and if the said receipt or voucher shall notproduction have been produced as required, the secretary shall

Secretar^'of ascertain from the person entitled to receive the saidSociety to ground or chief rent or other payments, whether theyhaVbeen have been duly received, and if not, then he, thepaid and if secretary, shall forthwith pay the same out of theyi society's funds, and the amount thereof shall be debited

to the account of the person to whom the advance hasbeen made, together with a fine of five shillings, andnofproduc- any other reasonable expenses to which the secretary

ing voucher {n the payment thereof shall have been subject, byor receipt of f.. J a / p i 1rent. reason either 01 the non-production ot the receipts orthe non-payment of the said rent or charges.

55.In the case of any member having made anHow the agreement with the committee of management as to^advanced ""ne amount to De advanced on any building about toon buildings be erected, or in course of erection, and having exe-.ere^t?on? cuted such deed of mortgage or assurance as before-

mentioned, the said member shall be entitled to receivea proportionate part of the advance agreed upon whenthe said buildings shall have been raised to the heightof the first floor, a proportionate part thereof when


29/40

27they shall be covered in or fully slated, and the Subjecttoremaining portion when the said buildings shall be inspectioncompleted according to the plans and specifications before thethereof, subject nevertheless to the same inspection and ^^^tai-approval as premises already built. ment.

56.Should any member of this society to whoman advance of money has been made from the funds of ^ot to'piSithis society, on the security of property given as herein- down orbefore mentioned, leave any building upon which the any mort*Jsaid money shall have been advanced, unfinished, or pfaged build-begin to pull down, remove, damage, or carry away anyMiiidingthe same, or any part thereof, or cause or procure the unfimshed -same or any part thereof to be pulled down, removedor carried away to the prejudice of this society, or thesecurity given, the committee of management shall beat liberty forthwith to take possession, and either to to havesell such premises at the cost of such member or to tak^posses-employ such person or persons as they shall think fit sion,andseiito finish and complete the same out of the funds of the the cost ofsociety, and charge the cost of completion to the debit theborrow'rof the member to whom the advance has been made.

57.All property mortgaged to this society shall beregularly insured against loss by fire by the committee in Stheanceof management, in the society's name, with such com- Society'spany or office as they shall think fit, and for such sumor sums as shall be agreed upon between the mortgagorand them, the said committee, but not less than thefull amount as shall from time to time be owing upon \)e chargedthe said mortgage. The mortgagor shall pay the costs with tbeof the said insurance and of the annual renewals insurance,thereof, on or before the ninth day of the month nextensuing after the same shall be due, and in defaultthereof shall pay the same penalty as for arrears ofrepayment and interest, as is hereinafter provided.The mortgagor shall also give to the committee ofmanagement a written notice of any and every trade ormanufacturing process carried on in any of the mort-gaged premises, or of any stove, furnace, or otherarticle erected therein, which will in the least affect thevalidity of the policy of insurance in force before the


30/40

28commencement of such trade, or before the erection ofsuch stove, furnace, article, or thing, or, in defaultthereof, shall be fined five shillings per week during thetime which such notice is withheld. Whenever anyproperty mortgaged to this society has sustained damageby fire, the committee of management shall receive theamount of the damage so sustained from the InsuranceOffice, or Company, and shall give a receipt for thesame, signed by the president, and countersigned byby the secretary for the time being, which shall be asufficient discharge to the insurance office or companyliable by virtue of any policy of insurance. The moneyreceived for such damage shall be applied to the pay-ment of the amount secured by the mortgage deed ofthe damaged premises, or, if the committee of manage-ment consider it expedient, they shall expend suchmoney in repairing such damage.

58.Every person to whom an advance of moneyhas been made on the security of lands or buildings,in manner hereinbefore provided shall, on or beforethe ninth day of every calendar month, pay, at the

and*rateTof ' registered office of the society, to such person oran^TSterelt Persons as the committee of management shall fromtime to time appoint, not less than eight shillings and

four pence for every one hundred pounds of suchadvanced moneys, together with interest after the rateof five per cent, per annum, on such portion of the

be reduced said advance as shall have been unpaid on the ninthof January1 ^ay ^ January next preceding, reckoning all partseach year. f pounds as full pounds in the calculation of suchNot exceed- interest. And every borrower shall, in addition to theshillings beforementioned payments, pay, on the ninth day ofper cent per January in each year, a further sum not exceeding twoannum to be J J .charged to shillings for every one hundred pounds of the originalrepayWert amount advanced to provide for the expense of con-expenses, ducting this department.Penalties 59.Should any borrower neglect to pay, on ormentofPay De^ore the ninth day of each and every month, therepayments repayment and interest due according to the provisionsand interest f^ foreg0mg ruie? together with all arrears of re-

Time, place,


31/40

29payment and interest, and together with all charges,fines, and penalties to which he shall from time to timebecome liable, according to these rules, such personshall be charged additional interest after the rate oftwopence per pound for every month, or part of amonth, during which such moneys shall be in arrear,such additional interest to be calculated upon the sumof the several arrears. And should any person neglectto pay any of such payments and interest or any partor parts thereof respectively. It shall be lawful for the Power tocommittee of management, in their discretion and at possesion,any time after such default, to enter into posses-sion of the property which has been given as To sell andsecurity for the said payments, and shall cause pe^Ss andsuch property to be sold, and the proceeds of such sale debt, andto be appropriated in liquidation of the debt owing to f^persoT00the society on the said security, together with the entitled,expense of the said sale, and pay the balance over tosuch person as shall be legally entitled to receive the same.

60.Any member to whom an advance of money mJderefnshall have been made on the security of any lands or transfer,buildings, desiring to dispose of his interest in suchlands or buildings, may transfer such interest, with theconsent of the committee of management for the timebeing, to any other member of the society, or to anyother person or persons. All such transfers shall beof such form and executed in such manner as the

Form ofcommittee of management for the time being shall transfer todeem j necessary, under the advice of their solicitor, committeeBut no transfer shall be made of any property held on j*nj*paortgage by this society, unless or until all moneysand arrears due in respect of the amount advanced uponthe said mortgaged property shall have been duly made.

61.Any member to whom an advance shall havebeen made in manner hereinbefore provided, may, by may changeand with the consent of the committee of management security-for the time being, substitute any other security ofequal value, in lands or buildings, in lieu of the securitypreviously given, on payment of all the necessaryexpense in respect to the transfer of the said security,or securities.


32/40

30Mode of 62.When any person to whom an advance ofvacating the money shall have been made out of the funds of thiswhen

gthe society, on the security of any mortgage, or othermoney assurance, shall have repaid the whole of such advancedborrowedthereon has money, together with all arrears of interest, lines,been repaid * penalties or other charges due thereon, according to

these rules, the committee of management shall authorisea receipt to be given under the hands of two membersof the committee, countersigned by the secretary of thesociety for the time being, such receipt to be in theform appended to these rules, and shall be annexed to,or endorsed upon, such mortgage or assurance, andshall vacate the same and vest the estate of and in theproperty therein comprised in the person entitled to theequity or redemption of the said property.

63.Every person borrowing money from thissociety in accordance with the foregoing rules shallFees of the pay the valuers' fee for each inspection of the pro-

Vaiuers. perty offered as security. And the said person shallalso pay the cost of all deeds of mortgage and transfer

Borrower to required by these rules, in addition to the payments^d00? f neremDefbre mentioned. And all such deeds shall bedrafted and prepared by the solicitor appointed by thecommittee of management for the time being.

64 The committee of management shall causeProvision to be provided proper books to record the proceedingsfor booking f this department, and shall cause to be kept aauditing. separate account of all moneys received and paid on

account thereof, and the auditors of the society for thetime being shall examine all accounts belonging thereto,and see that the receipts and payments are properlyentered in the books ; and the said books shall be madeup and balanced on the respective quarter days of thesociety, when all other accounts are so made up andbalanced ; and the result thereof, so far as respects thetotal, shall be shown from quarter to quarter in the

. society's balance sheet.


33/40

31Construction of Rules.

65.In construing these rules, words importing the Constnic-masculine gender shall be taken to apply to a female ; Rule*?,words importing one person or thing only, shall betaken to apply to more than one person or thing ; andwords importing a class shall be taken to apply to themajority of that class, unless there is something in thecontext to prevent such a construction.

Application for Registrar's Inspection.66. -It shall be the right of one-fifth of the total Winding upnumber of members, or if the number of members society,

shall at any time amount to 1,000, and shall notexceed 10,000, it shall be the right of 100 members,or if the number shall at any time exceed 10,000, itshall be the right of 500 members, by an applicationin writing to the Chief Registrar, signed by themin the forms respectively provided by the TreasuryRegulations in that behalf

(a.) To apply for the appointment of one or moreinspectors to examine into the affairs of the societyand to report thereon.Industrial and ProvidentSocieties Act, 1876, s. 15. (1 a.)

(b.) To apply for the calling of a special meeting ofthe society.Industrial and Provident Societies Act,1876, s. 15, (1 b.)

Either such application to be made upon such noticeto the society, and to be supported by such evidencefor the purpose of showing that the applicants havegood reason for requiring such inspection to be made,or meeting to be called, and that they are not actuatedby malicious motives in their application, as the ChiefRegistrar shall direct.Industrial and Provident So-cieties Act, 1876, s. 15. (2).

67.The society may at any time be dissolved Dissolutionby the consent of three-fourths of the members, gaietytestified by their signatures to some instrument ofdissolution in the form provided by the TreasuryRegulations in that behalf.Industrial and ProvidentSocieties Act, 1876, s. 17. (1).


34/40

32

APPENDIXFORM OF RECEIPT TO VACATE A SECUSITY.

We, the undersigned, being two members of the com-mittee and the secretary for the time being of the within-named Eochdale Equitable Pioneers' Society Limited, inpursuance of the authority to us for this purpose given,in and by a resolution of the committee of managementof the society, and of all other powers hereuntoenabling, and at the request and by the direction of

who claims to be the person now entitled to the equityof redemption of the premises within comprised, doacknowledge to have received all moneys intended tobe secured by the within-written deed, and we makethis endorsement thereon with intent to vacate thesame, and to vest the estate of and in the propertycomprised in such security in the person or persons forthe time being entitled to the equity of redemptionthereof, without it being necessary for us or any othersto give a reconveyance of the property so mortgaged.Dated this day ofone thousand eight hundred and

A. HOWARD, President.THOMAS WARD, TreasurerJNO. T. W. MITCHELL.WM. SCHOFIELD.JOHN RANDLE.CHARLES BREARLEY.JAMES KERSHAW.JOHN WALTON.EDWARD CROSSLEY.JAMES WHITWORTH.JAMES LEA.CH, Secretary.


35/40

i

hoCO

03 >rCD *& h3

ioo I o

r-O

Oh H-=> IH* 3CD

PIHHft QQ

So+^> H" O

H-=>

00

CD rHCDPi

rHr>*03

o Br3 n34-JrH

H-Ho^-i CDo H-=>rH eg+3 Z) 733


36/40


37/40

i isr dd :e x:

Name of SocietyObjects of SocietyRegistered Office ...Notice of Removal of Registered OfficeAdmission of MembersList of MembersGeneral and Quarterly MeetingsPurposes of General MeetingsEducational General MeetingsSpecial General MeetingsPlace of Meeting and Number constituting a

MeetingVotesAlteration of RulesOfficers of the Society ...Management of BusinessMode of Conducting BusinessDuties of Committee of ManagementDuties of President ...Duties of Secretary ...Duties of TreasurerSecurity from Officers and othersPayment of OfficersServants not to be OfficersDisqualification of Committee-menEducational CommitteeOfficers not to Nominate or Second ColleaguesLimitation of Members 5 Inv estmentsPower to Accept LoansJuvenile DepartmentShare Capitalhow paid upRecovery of SubscriptionsRepayment of Loans and ShareWithdrawal of SharesCases of Distress ... ...Copies of RulesAppointment of AuditorsInspections of Books and AccountsWithdrawal or Exclusion from SocietyPower of Nomination by MembersNotice to be given of Death of Member

fcULE . Page.1 ... 52 ... 53 ... 54 ... 55 ... 5-66 ... 77 ... 78 ... 79 ... 7-810 ... 811 ... 812 ... 813 .. 8-914 ... 9-1015 ... 1016 ... 10-1117 ... 1218 ... 11-1219 ... 1320 ... 1321 ... 1322 ... 1323 ... 1324 ... 1425 ... 1426 ... 1427 ... 1428 ... 1529 ... 1530 ... 15-1631 ... 1632 ... 1633 ... 1634 ... 1735 ... 1736 ... 17-1837 ... 1838 ... 1839 ... 1840 ... 19


38/40

Rule. Page.41 .. . 2042 .. . 2043 .. . 20-21

44 . .. 2245 . .. 2246 . .. 22-2347 . .. 2348 , .. 23

INDEX.Continued,Deceased Members' SharesProvision for Baukruptcy ClaimDivision of Profits

1st. As to Reduction of Pixed Stock2nd. As to Appropriation of EntrancePees, &c.

3rd. As to interest on Shares4th. Investment Reserve Pund5th. Allowance for Educational Purposes6th. Dividend on Purchases7th. Reserve PundProfits from Non-Members and Balances

Complaints and Suggestions of MembersPublication of Name of SocietyInjurious Conduct of MembersSociety's SealInvestment of Capital

BUILDING DEPARTMENT.Power to Buy, Sell, and Mortgage Houses andLand 49 ... 23-24Power to Advance Moneys to Members onMortgageMode of Application for LoanPorm of Deed and Custody of Deeds

Provisions for Preliminary Valuation, Mem-ber to pay expenses of same

Provisions as to Payment of Chief Rent ofMortgage PropertyMode of making Advances in cases of NewBuildingsAs to Unfinished BuildingsAs to InsuranceMode of Repayment, and of Payment ofInterest

Penalties for Neglect of PaymentProvisions for Transfer of MortgageBorrower to Change SecurityMode of Vacating a MortgageBorrower to pay Valuer's and Lawyer's ChargesBooks and AuditingConstruction of RulesWinding up of the SocietyDissolution of the SocietyAppendix

GlLBEET HAWOETH, PEINTEE, ROCHDALE.

50 . .. 2451 . .. 24-2552 . .. 2553 .. 25-2654 . .. 2655 . .. 26-2756 . .. 2757 . .. 27-2858 . .. 2859 . .. 28-2960 . .. 2961 .. 2962 . .. 3063 ... 3064 ... 3065 ... 3166 ... 3161 . .. 31 .. 32


39/40


40/40

rochdale equitable pioneers' society rules

Documents