SEC. 12.-Comptroller's Duties. The Comptroller shall, under the direction of the President, supervise the accounts of the Society; oversee the custody of the securities under the rules established from time to time; superintend the clerical departments; have charge of and be responsible for the Bond and Mortgage Department, and in general give such aid as the President may require in the management of the office of the Society.

SEC. 13.-Registrar's Duties. The Registrar shall sign policies, cheques and other official documents under rules prescribed from time to time for that purpose, and shall perform such other duties as may be assigned to him by the President.

SEC. 14.-Resident Medical Directors' Duties. It shall be the duty of the Resident Medical Directors to attend daily during the business hours of the Society, at the office of the Society; to make personal examinations of persons offering themselves for insurance; to examine the reports of physicians, agents, and others upon applications for insurance; to appoint all local medical examiners, and otherwise to supervise the Medical Department of the Society, under the direction of the President and under the rules and regulations approved by him.

The Resident Medical Directors shall assist in collecting and arranging all facts and data connected with vital statistics in this and other countries, and the mortality experience of the Society, and perform such other appropriate acts as may be required by the Board, its committees, or the President.

SEC. 15.-Contracts for Insurance; By Whom Made. The officers of the Society shall have power to make contracts for insurance on life and for annuity, and all other contracts, powers of attorney and instruments in writing necessary for the Society in the management of its affairs, in conformity with the rules and regulations of the Board for the time being.

All such contracts shall be signed by any two of the following officers: the President, Vice-President, Second,

Third and Fourth Vice-Presidents, Secretary, Actuary, Comptroller, Assistant Secretary, Treasurer, Assistant Treasurer, Registrar, Auditor, Superintendent of Agencies, and the Chairman of the Finance Committee.

SEC. 16.-Custody and Use of Seal. The seal of the corporation shall be under the charge of the officers named in section two of these By-Laws, any two of whom shall have power to affix the same to contracts of assurance and annuities, to powers of attorney for the transfer of stock, the collection of dividends or other purposes; to certificates acknowledging satisfaction of mortgages, to assignments of mortgages where the whole amount due thereon shall have been paid, or to any instruments in writing which they have authority to execute, and to releases of portions of mortgaged premises, and to deeds conveying real estate.

SEC. 17-Officers' Bonds. The President, VicePresident, Second, Third and Fourth Vice-Presidents, Actuary, Secretary, Comptroller, Treasurer, and Assistant Treasurer shall give a bond or bonds for the faithful performance of their trusts, for such amount and with such sureties as shall be approved by the Finance Committee. Every bond so taken shall be so drawn as to remain in force until another bond or bonds be substituted and approved by the Finance Committee; and such bond or bonds shall, after each annual election, be submitted to the said Committee.

The Finance Committee may also require an official bond from any other officer, clerk, or agent of the Society, in such penalty and with such surety as they may deem proper.

SEC. 18. Standing Committees. There shall be five standing committees of the Board-namely: (1) a Finance Committee, (2) an Executive Committee, (3) a Committee on Agencies, (4) a Committee on Insurance, and (5) a Committee on Accounts.

The standing committees shall be elected at the annual meeting by ballot, and shall hold office until their successors are appointed.

SEC. 19.-Finance Committee. The Finance Committee shall consist of ten Directors and the President (six of whom shall be a quorum), and shall superintend the making of investments by the Executive Committee, who shall report to the Finance Committee at each meeting the investments made in the interval, and the Finance Committee may direct a change of investments or securities.

The Finance Committee shall also superintend the manner in which the accounts of the Society shall be kept, and all matters connected with the finances and expenses of the Society, and may itself, or through the Executive Committee, or through such persons as it may designate, audit all bills and examine and check the cash payments with the vouchers.

SEC. 20.-Executive Committee. The Executive Committee shall consist of the President, the Vice-President, the Comptroller, the Chairman of the Finance Committee, and not less than five others (four of whom shall be a quorum). They shall act as an Advisory Committee to the President in all the affairs of the Society and shall have special charge of the investment of the funds of the Society, including the purchase and sale of securities and loans on the same and investments on bond and mortgage, and shall, during the intervals when the Finance Committee is not in session, have all the powers of the Board of Directors. The Committee shall supervise the condition, security and productive character of the assets and shall devise ways and means to improve their condition, to provide against danger of loss, to rid the Society of unproductive assets, and to invest and re-invest in productive assets. It shall be their duty to see that the securities are properly guarded and protected and to frame rules for the custody of the same, and by periodical examinations and otherwise to test the operation of such rules. They shall, so far as practicable, meet three times in each week for the purpose of advising and consulting with the President and carrying

out the purposes of this section, and shall report purchases, loans, and other investments made by them to the Finance Committee. Upon a vacancy occurring by death, resignation or otherwise in the Executive Committee, the vacancy may be filled by the Finance Committee or by the Board.

SEC. 21.-Committee on Insurance. The Committee on Insurance shall consist of five Directors (three of whom shall constitute a quorum), who shall consult and advise with the officers in all matters relative to insurance, and the adjustment and settlement of claims for losses; no loss shall be paid without the approbation of this Committee.

SEC. 22.-Committee on Agencies. The Committee on Agencies shall consist of five Directors (three of whom shall constitute a quorum), who shall consult and advise with the officers in all matters relative to the appointment, management, and removal of agents, and their compensation, and shall have power to appoint and remove agents, and to fix their compensation.

SEC. 23.-Committee on Accounts. The Committee on Accounts shall consist of five Directors (two of whom shall constitute a quorum), who shall examine and audit all accounts, receipts, and payments not audited by the Committee on Finance or under its direction.

SEC. 24-Meetings and Minutes of Committees. Regular minutes of the proceedings of each committee shall be kept in books provided for that purpose, and reports of the same read at every regular meeting of the Directors.

Every report of a Standing or Special Committee, not entered on the minutes of a Standing Committee, shall be in writing, and signed by the Committee or its Chair

man.

SEC. 25.-Of foreclosure for interest. No interest shall be allowed to remain due longer than thirty days, on any bond and mortgage to the Society, without a foreclosure or suit being commenced, unless the President or the Finance Committee authorize a longer delay.

SEC. 26.-Inspectors of Election. The Board of Directors shall, at their last stated meeting previous to the annual election for Directors, appoint three Inspectors of Election; and in case any Inspector shall fail to attend, the President shall have the power to fill such vacancies. In case the said stated meeting shall not be held, the President shall call a special meeting for the purpose aforesaid of which special notice shall be given. Said special meeting shall be held at least sixteen days previous to the holding of said election.

SEC. 27.-Receipts for payments of principal of bonds. No payment of the principal of bonds shall be deemed valid except upon the receipt of any two of the following persons, namely, the President, the Vice-President, the Second Vice-President, the Third Vice-President, the Fourth Vice-President, the Comptroller, the Actuary, the Secretary, the Assistant Secretary, the Treasurer, the Assistant Treasurer, the Registrar, the Chairman of the Finance Committee, and the Financial Manager, and this shall be incorporated in the bond as part of the contract.

SEC. 28.-Investment of Stocks. All investments or sales of stocks or bonds shall be made in the name of the Society, with power on the part of any two of the following persons, namely, the President, the Vice-President, the Second Vice-President, the Third Vice-President, the Fourth Vice-President, the Comptroller, the Actuary, the Secretary, the Assistant Secretary, the Treasurer, the Assistant Treasurer, the Registrar, the Chairman of the Finance Committee, and the Financial Manager, to effect the transfers in the name of the Society.

SEC. 29.-No commissions or compensations, direct or indirect, for procuring or facilitating loans from the Society shall be received by any Director, or by any of its officers or other person in its employment. And no loans on bond and mortgage shall be made to Directors or to officers elected or appointed by the Board.

SEC. 30.-Fire Insurance Policy. Before any money is paid out for authorized loans on real estate, the Presi