the   PEOVIDENT   LOAN   SOCIETY   OF   NEW   YORK

(2)  Contributions made on condition that the con¬
tributor shall receive a Certificate for the amount given
entitling the holder thereof to such amount, not exceed¬
ing in any year lawful interest on the sum contributed,
as the Trustees may determine to pay pro rata to cer¬
tificate-holders out of earnings.

(3)  Loans at a rate of interest not exceeding the law¬
ful rate.

Aeticle XI

Distribution of Property or Surplus

No member of the Society shall have the right to
share in the distribution of any property belonging to
the Society, however acquired, by reason of member¬
ship. If the Society shall be djssblvfeci or its sxistence-
terminated in any way, each hblder" of -an-y cectiHcatc
of contribution shall be entitled;!)^, virtae. tliereof to
receive back the contribution-.§-vJ9;3liCed :by such- e#r-i
tificate, with interest thereon at six per ceiit. from tlie'
last date at which interest was pjiidj-aiid KOmore. Any.
surplus remaining after providing JoJ>-"tlai3 lepayiiieiit
shall be distributed among such charitable organiza¬
tions, whether certificate-holders or not, which are
located in the City of New York and conduct their
operations chiefly within that city, as the then Trustees
shall determine. The Trustees may from time to time
make distributions to such charitable organizations out
of surplus earnings as they may deem expedient.

Aeticle XII

Interest on Loans Made by the Society

The Society shall not charge or receive any interest on
loans at a greater rate than one per cent, per month or
fraction thereof.

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