Squier v. Grand Fraternity

Citations

• 66 Pa. Super. 315
• 1917 Pa. Super. LEXIS 253

Syllabus

<p>Beneficial associations — Consolidation and merger — Exchange of certificates — Sharing in surplus fund.</p> <p>Where a beneficial association merges and consolidates with another beneficial association under an agreement by which the members of the first association may exchange their certificates for the certificates of the consolidated company, if they desire, or retain the old certificates rinder the original beneficiary contracts, which “shall remain intact, and be assumed by the consolidated society according to the terms of the constitution and laws of the original society,” and subsequently the consolidated society issues a circular advising the members of the old society to exchange their certificates, by which they would become entitled to a credit on the new certificates, of a portion of a certain fund described as a surplus from the first society, and a member of the first society dies without having changed his certificate, and in default on-payment of assessments, his beneficiary cannot claim that the assessments had been paid by credits on the surplus fund, in the absence of any evidence whatever that such surplus fund was applicable to the payment of assessments due by members of the first society who had not changed their certificates.</p>