The use of the interest made available shall be entirely at the discretion of the Board of Directors, which may distribute the annual income, depending on the circumstances and its own discretion, either to all participating members or use it for other purposes that serve the honor, benefit, and well-being of the four families. However, the following shall be taken into account: a. The careful education of all participating sons and daughters who have reached the age of 14, and especially those of the poor and those who show exceptional intellectual abilities. b. The purposeful support of truly poor and honest participating members, whether from all four families or only from one. c. In the event of a fire, flood, or other major unforeseen disaster affecting one or more participating members, where immediate assistance is essential, the Board of Directors may dispose of several available half-yearly interest payments in favor of the affected parties, depending on the circumstances; in extreme cases, it may even dispose of half a year's interest that would otherwise be capitalized; this half-interest shall, however, be replaced in subsequent better years from the liquid interest of the cash register. If years come when none of the above considerations are applicable, and the financial situation of all participating members is in such good condition that the distribution of interest would not have any significant benefit, the interest may be capitalized in whole or in part upon the proposal of the Board of Directors; however, the consent of all participating members is required, and such consent shall never be binding for more than one year. The capital thus formed cannot be withdrawn again, it forms one and the same fund with the original capital, and shall be managed on the same basis in the future.
Outbound Leads by COHAGA