HomeMy WebLinkAbout1925 (4) Deprive the Insurer of anp of its exeonptions and
immuaities with respect to Policies issued by it prior
to receipt by the Inaurer of notice of such amendment.
10.02 The Employer may terminate this Trust at any time by
an instrument in writing executed in the name of the Smployer vader ~
its corporate seal by officers duly authorized to execute such ~
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instrument, and delivered to the Trustees, provided t~owever, that
if this Trust shall be terminated the following steps shall be
taken.
(1) The Investiment Fund shall be distributed among Partici-
pants in the proportion which the tabular Fund reserve
with respect to each Participant's account bears to
the sum of all tabular reserves in the Fund. For pur-
poses of computing the tabular reserves the same
assumptions as are currently being used to calculate
outlaqs to the Fund ahall be used.
(2~ The General Fund shall then be distributed among Par-
tici~ants in the proportion which the total values being
distributed to each Participant, tmder step 1 above, ~
bears to the total values being distributed to a11
participants. -
The foregoing provisions shall be sub3ect to the limitations set
forth in Section 12.07. ~
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10.03 This Trust shall terminate upon complete discon• _ ;
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tinuance of contributions or if the Bmployer should be legally
,
, di-ssolved or declared bankrupt or upon its making any general
assignment for the benefit of creditors or upon its merging with
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any other corporatioa except that the Trust may be continued by
any other corporation or business organization by which same or all
of the Participants are e~loyed if such corporation or business
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