3. He shall pay claims only on the recommendation of the Annual Conference, endorsed by the Presiding Bishop and the President of the Joint Board of Finance.
4. He shall make settlement with all claimants on or about January 1st of each year in order to get reports from all conferences.
5. The Secretary-Treasurer is authorized to devise plans to raise money to meet payments when it becomes necessary.
6. The Secretary-Treasurer shall furnish such bond as the Board of Directors may deem necessary for protection of the funds of the department. He shall receive for salary $1200 per annum.
7. The books of the department shall be open for inspection at any time on request of the Board.
Art. III. (1) The funds of this department shall accrue from the 10 per cent. of the General Funds for Superannuated preachers, widows and orphans, from a per capita of one dollar on all active preachers and laymen of every Annual Conference and from plans and devices of the Secretary-Treasurer.
2. Should there be an insufficient amount in the treasury to pay the minimum pension, the Secretary-Treasurer shall notify the Board and, in case they cannot make provision to raise the shortage, he shall pay each claimant in proportion to the amount of his pension.
Art. IV. (1) Superannuated preachers who have served in the itinerancy for ten or more years, shall receive a pension of not more than $250.00 nor less than $150.00.
2. Superannuated preachers who have served in the itinerancy from five to ten years, shall receive a pension of not more than $150, nor less than $100.
3. Superannuated preachers who have served from one to five years in the itinerancy shall receive not more than $100, nor less than $65.