LEGAL FORM OF FOUNDING A SCHOLARSHIP
In cons ide r a ti on o f the payment to it o f th e sum of $ ...... ............... ......................... .... ........ . the r ece ipt ll"hcr eo f is he r eby acknowl ccl gecl, fo r the purpose of maintaining a perman ent sch olarship endo ll"mcnt fund. th e BIBLE I l\ STITU T E Of,' LOS Al\ GELE S (a rel ig io us co rpora ti on ) co venants and a •,.r ccs to in,·cs t and r e inves t said money in such securities as a r c o r will be a lega l inves tment fo r Ca li fo rni a sav ings banks, ins ura nce companies. a nd fo r Oll"n e r s o f trus t fund s, as pr esc ribed by th e laws of th e St a te of Ca li fo rnia; a nd furth e r co ,·cna nt s and ag r ees to pay th e annua l in come de rived fr om th e securiti es so purchased with sa id money. to wo rthy s tudent s , no t to exceed th e amount o f Three I lunclr ed Twenty - fiv e D o ll a r s ($325.00 ) each. pe r annum. in o rde r to a ss ist the sa id stud ent s lo compl ete a co ur se o f s tudy a t th e Bible l ns titut c of Los Ange les, a nd upon such te rms a nd co ndi t ions as may be pr esc ribed by sa id r e li g io us co rpo r a ti on . It is furth er co ,·cna nt ed and ag r eed th at th e scho la r ship endo ll"ment he r ein provided fo r sha ll be kno \\"n a s th e " ....... ( name o f donor) Scho lar ship o f th e Bible ln stitnte of Los ,\n ge lcs .'' a nd sha ll be ent e r ed upon t he books o f said r e li g io us co r po rati on in th at name. .. , by .. I N \\'IT::'\ES S \\.I-JEREOF, th e sa id Bib le In s titute of Los Ange les (a r e ligi ous co r po r a ti on ) has hc r cnnto caused t hi s ag r eement to be ex ecut ed by its duly a utho ri zed o ffi cer s, a nd th e co rpo rate seal to be affix ed thi s .. cl ay of.. .. , 19... .. .. Bil3LE 1~ TITUTE OF LOS A ?\GELES, By ..... . ( Co rpo rate ca l) P res id c11t.
Sec retar y.
THE ANNUITY PLAN Ann uity bond s a r c a fo rm o f in,·cs tment rapidl y ri s ing in fa ,·or. They a r c highly com mend ed by fi na ncial a ch ·isc r s, a nd iss ued as among th eir des ira ble proposi ti ons by t he lead ing in surance co1npani cs . r\ n a nnui ty bond is a g ua r a n tee to t he annuitant o f a f,x cd in come. propo r t ioned to th e amoun t of th e bond a nd the ex pec ta ti on, o r pr oba bl e r ema inde r of li fe at th e time o f purchase , and varies front ...i c;~ to 10~~, or 111or c according to age. Advantages of Our Annuities Th e i1wcs tment is beyond th e ri sk of specul a ti on and th e vi c iss itudes o f tr ade and com mer ce . Th e fund s ar c invested in app roved securiti es, and no part is used fo r current needs until th e death of th e annuita nt. Th e r esc n ·c fund, which is und er th e supe r vis ion o f th e In sur a nce D epartment o f th e S tate o f Ca li fo rnia, is se t up 0 11 th e bas is o f one do llar r csc n· c fo r eve ry do ll a r o f ac tive annuity fund s. Th e income is no t subj ect to flu ctuati on. o r poss ibl y. a nnihil a ti on. Th e inves tment is pe rman en t, a nd pas t th e wo rry and hazard of r e-in ves tment, with 1nc1- dcntal loss o f inte r es t. Th e fund wil l ultimat e ly pass into th e Lo rd 's tr ea sury, a nd be used to promo te th e spr ead o f the Gospe l "t ill 1-Je come." Th e legacy will be th e gift o f a livi 11 g r a th e r than a d ead hand. Th e r e 11"ill be no costs fo r litigati on, o r admini str a ti on, and no ali ena ti on o f the g ift fr om the intenti on o f the giver . The percentage of a nnuiti es , with pe r sons pas t mi ddl e Ii fe, cons id erably exceed ordinary rates o f int er es t or dividends. Full particulars upo n applica ti on to the Sup erint endent. 53
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