Article Nº 2437 Charity or mutual-aid body Vol. II · p. 751

Madeiran Mutual Aid Society

Original title: Montepio Madeirense

Charity or mutual-aid body

A mutual-aid savings society founded in Funchal in 1900, with 1,134 members in 1921.

It was founded in 1900, and its first statutes were approved on 23 January of the same year. It is governed today by statutes approved by royal decree (alvará) of 17 January 1917; before that it had others, approved by royal decree of 31 May 1913.

Membership of the mutual-aid society is open only to persons aged from 16 to 55, of good moral and civil conduct, who may subscribe capital of 50 to 400 escudos (Portuguese currency from 1911, = 1,000 réis).

The Madeiran Mutual Aid Society (Montepio Madeirense) had 1134 members in October 1921, and since 1915 it has owned the building in which it is housed.

Chronology

23 January 1900 The Montepio Madeirense was founded and its first statutes approved.
31 May 1913 Reformed statutes of the Montepio Madeirense were approved.
1915 The Montepio Madeirense acquired its own building.
17 January 1917 The current statutes of the Montepio Madeirense were approved.
October 1921 The Montepio Madeirense had 1,134 members.