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Irish Aubrac Cattle Breed Society Limited
XIII. INCOME AND PROPERTY
79. Income and Property
The income and property of the Society, whensoever derived, shall be applied solely towards the promotion of the objects of the Society as set forth in these rules and no portion thereof shall be paid or transferred directly or indirectly, by way of dividend, bonus or otherwise howsoever by way of profit, to the members of the Society.
Provided that nothing herein shall prevent the payment, in good faith, of reasonable and proper remuneration to any officer or servant of the Society, or to any member of the Society in return for any services actually rendered to the Society, nor prevent the payment of interest at a rate not exceeding 5 percent, per annum on money lent or reasonable and proper rent for premises demised or let by any member of the Society, nor prevent the Society from purchasing cattle at reasonable and proper prices from any member for use at any artificial insemination station or otherwise for the benefit of members nor the gratuitous distribution among or sale at a discount to members of any publications, whether published by the Society or otherwise, relating to any of its objects as set forth, nor prevent any member who may be a successful exhibitor at any such show as is mentioned in Rule 4(f) from receiving as such exhibitor any prize, medal or other recognition which may, under the regulations affecting the said show, be awarded to such member, nor prevent the Society repaying to any member all or any of the out-of-pocket expenses reasonably and properly incurred by such member in or about the exhibition of cattle at any show approved for this purpose by the Society; but so that no member of the Council of the Society shall be appointed to any salaried office of the Society or any office of the Society paid by fees and that no remuneration or other benefit in money or money’s worth shall be given by the Society to any member of such Council except repayment of out-of-pocket expenses and interest at the rate aforesaid on money lent or reasonable and proper purchase monies for premises demised or let by him to the Society, or reasonable and proper purchase monies for any cattle at any time sold by him to the Society for use at any artificial insemination station or otherwise or any prize, medal or other recognition to which he may become entitled as an exhibitor at any such show as aforesaid; provided that the provision last aforesaid shall not apply to any payment to any company of which a member of the Council may be a member, and in which such member shall not hold more than one hundredth part of the capital, and such member shall not be bound to account for any share of profits he may receive in respect of any such payment.
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