Chap. 60.—An ACT to authorize the Progressive endowment guild of America
to deposit securities with the state treasurer, and to make annual reports to
the auditor. ,

Approved January 16, 1896.

1. Be it enacted by the general assembly of Virginia, That the
Progressive endowment guild of America, a fraternal beneficiary or-
der, chartered by an act approved on the tenth day of January, eigh-
teen hundred and ninety, shall have permission to deliver to and de-
posit with the treasurer of the state, bonds of the United States or of
the state of Virginia, or of any municipal corporation in this state,
or the stock of any bank, or business or industrial corporation, char-
tered by this state, to an amount not less than twenty-five thousand
dollars in their aggregate cash value; and the treasurer shall there-
upon give the proper officer of said order a receipt for the same. And
said bonds or stock shall be accompanied by the proper evidence of
authority to the treasurer, enabling him to validly transfer the same
inthe event of the sale of any portion thereof for the purpose of
paying any of the liabilities hereinafter provided for; but all earn-
ings on any such stock or interest on any such bonds, whether the
latter be registered or coupon bonds, shall be paid to and retained
by the said guild.

2. The securities so deposited shall be held for the benefit of all
the members of the said order, to secure compliance by the said or-
der with the terms of certificates of membership issued to its mem-
bers who may have complied with its laws, rules and regulations. If
the said guild shall fail to pay to the beneficiary named in any cer-
tificate of membership the amount due him, within sixty days after
judgment obtained in a court of the city of Richmond having
jurisdiction of the subject, the treasurer shall, upon application of
the party to whom the money is so due, proceed to sell at auction
such an amount of said bonds or stock as will pay the amount of the
judgment and expenses of sale, and out of the proceeds of sale pay
such judgment and expenses.

3. When the supreme executive committee of said guild, by reso-
lution duly adopted and re-affirmed at a subsequent meeting of said
committee, held after at least thirty days, shall require the return of
said securities, or a portion thereof, then the treasurer shall deliver
the same to the said order, or such officer thereof, as may be designa-
ted in said resolution ; provided, however, that there shall be no suit
at law pending against the said guild or judgment recorded against
it. And whenever requested by the supreme secretary of said order,
the treasurer shall give a certificate of the character and amount of
securities so held by him, for which he shall be entitled, as well as
for their safe-keeping, to make a reasonable charge.

4. It shall further be lawful for the said Progressive endowment
guild of America to make and file with the auditor of the state, on
or before the fifteenth day of February of each year, a report, sworn
to by one or more of its executive officers, showing the amount of
certificates of membership issued, the amounts received from it.
members, the benefits paid out, and other statements of its transac-
tions during the past year, as follows:
I. Income during the year.

1. Amount received for assessments, $——.

2. Amount returned on loans, $——.

3. Rent, interest and dividends on stocks and bonds, $——.

4. All other sources, viz: $——.

Total amount received during the year, $——.

IJ. Expenditures during year.
1. Benefits, losses and claims paid, $

2. Sick benefits advanced, $——.
3. Salaries and other compensation of officers and clerical force,

$——.

4. Paid for rent, $——.

5. Paid for office expenses, chapter supplies, organization of chap-
ters and upbuilding same, printing and advertising and all other ex-
penditures, $——.

Total amount expended during the year, $

ITI. Assets.

Condition of mortuary—old age and benefit funds.

1. Negotiable note secured by first mortgage or deed of trust on
city or town real estate, $——.

2. Negotiable notes secured by other collaterals, and general fund
loan account, $——.

3. Total advanced for sick benefits to members in good standing
to date, $ :

4. Real estate, $——.

5. Stocks and bonds, $——.

6. Cash in bank, $——.

7. Securities deposited with the state treasurer of Virginia, $——.

Total, $

Condition of emergency and reserve funds:

1. Negotiable notes secured by first mortgage or deed of trust on
city or town real estate, $ .

2. Negotiable notes secured by other collaterals and securities,
$——.

3. Stocks and bonds, $——.

4. Real estate, $ .

5. Cash is bank, $——.

Total, $——.

Total of assets, $——.

IV. Liabilities.
1. Losses and claims unpaid, $—.
2. Salaries due and unpaid, $——.
3. Due for borrowed money, $——.
4. All other liabilities, 3——.
Total liabilities, $——.
QE OOO OOO

1. Membership in force at the end of the year preceding, for whic
this report is made. Number.—Amount of certificates, $——

2. Members admitted during the year. Number.—Amount of cei
tificates, $——.

Total.

Deduct members retiring by withdrawal or suspension during th
year.

Deduct members who have died during the year. Number.—Amoun
of certificates, $——.

Total members in good standing December 31st, 189—. No.

$——
And the auditor shall furnish to the said order, or its proper office:
upon application a copy of said report, certified by him to be a cor
rect copy, for which he shall be entitled to make a reasonable charge
5. It shall further be lawful for the said Progressive endowmen
guild of America to request the auditor of the state to verify any o
its annual statements so filed, by an examination of the books an
papers of the said guild, and the auditor of state may make this ex
amination, or cause it to be made, and he shall be entitled to mak:
a reasonable charge therefor. The auditor may also furnish a cer
tificate to the correctness of the statement filed and may make area
sonable charge for each certificate so furnished.
6. This act shall be in force from its passage.