MICHAEL P. ANNINOS TRUST FUND

The Michael P. Anninos Trust Fund was established by the Will of the late Michael P. Anninos, dated June 1st 1892. It is managed by an Executive Committee composed of: The Metropolitan of Cephalonia as permanent President, and the Mayor of Argostoli and a member of the benefactor's family, as members. As no relative of the benefactor exists, the position was assigned by the Ministry of Finance (on the recommendation of the other two) to Mr. Goulielmos Katsounis - an attorney living in Argostoli. Mr. Gerasimos I. Stamatatos is the Fund's Secretary.

The purpose of the Fund is the endownment of needy young ladies, preferebly orphaned of both parents (or of father), who have been born and live in Argostoli or the former Argostoli municipality, are 18-40 years old, according to the Charter of the Fund, ratified by Decree no. 357/1979 (FΕΚ Α/ 111/1979).

The original capital amounted consisted of 12 stocks of the National Bank that were owned by the benefactor.

At the beginning of each year, the Executive Committee convenes to determine the net income of the previous year and to decide the amount to be disposed, as well as the number of endownment candidates.

To facilitate young ladies wishing to petition for the endownment within the given deadline, an announcement by the Most Reverend President is published in the local press and is read aloud at all parishes of Argostoli and the towns that made up the former Argostoli municipality.

The amount to be given to each young lady is deposited in an interest bearing savings account in her name, held in trust until she legally marries within ten years from the time she was chosen. Should the decade pass without the young lady legally entering matrimony, the amount is returned to the Fund.

From 1930 to 1975, sixty five young ladies were chosen, while from 1976 until February 21st 2002, an additional 85 young ladies were chosen to receive this marriage assistance.
The Fund's estate is currently composed of:
a) 23.607 National Bank stocks, kept at the bank's main branch.
b) 1080 Bank of Greece stocks, kept at the bank's main branch.
c) Cash on hand from 2001 fiscal year operations, amounting to € 18.628,05 deposited at the National Bank (Savings Acoount no. 315-19600286).