Difference between revisions of "Bylaws"
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This is the core governing document of Bloominglabs. | This is the core governing document of Bloominglabs. | ||
| − | + | == Article I: Name And Why We Exist == | |
| − | + | === Section 1: Name === | |
| + | The name of the organization shall be Bloominglabs Incorporated, further referenced herein as the “Corporation”. | ||
| − | == | + | === Section 2: General Purposes === |
| − | + | The Corporation is organized exclusively for charitable, educational, and scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986 (or the corresponding section of any future United States Internal Revenue law). The mission of the Corporation is to benefit its members with knowledge and resources as well as the community with said resources and to foster a collaborative environment wherein people can explore and create intersections between technology, science, art, and culture. | |
| − | + | === Section 3: Specific Purposes === | |
| − | + | Subject to and within the limits of Section 2, the Corporation shall: | |
| − | + | * Acquire and maintain a collaborative workspace for communal use by all members. | |
| + | * Foster a creative, collaborative environment for experimentation and development in technology and art. | ||
| + | * Interact with the local community that our space is situated in through education and cultural participation. | ||
| + | * Share our developments and ideas with the world at large. | ||
| + | * Facilitate communication with other spaces and colleagues nationally and internationally. Invite experts and other creative individuals to share their ideas and projects. | ||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | == Article II: | + | == Article II: Location == |
| − | === Section 1: | + | === Section 1: Location === |
| − | + | The Corporation shall continuously maintain in the State of Indiana a registered office and a registered agent whose business office, for the purposes of this corporation, is identical with such registered office. The registered office shall be the physical location of our workspace. In the event that we do not have a physical workspace, the registered office shall be determined by the board of directors. | |
| − | === Section | + | |
| + | == Article III: Who We Are == | ||
| + | |||
| + | === Section 1: Designation of Membership Classes === | ||
| + | |||
| + | The Corporation has a two membership classes. Class I is designated by paying full monthly dues and has full voting rights. Class II is designated by paying a reduced rate of monthly dues based on hardship and has no voting rights. | ||
| + | |||
| + | === Section 2: Membership Qualifications === | ||
Any person who supports the purposes laid out in Article I of these bylaws may apply to become a member. | Any person who supports the purposes laid out in Article I of these bylaws may apply to become a member. | ||
| Line 33: | Line 40: | ||
=== Section 3: Voting Membership Class Election === | === Section 3: Voting Membership Class Election === | ||
| − | The | + | The [[Standing Rules]] shall specify procedures for inducting new members. For purposes of these bylaws, all persons listed as initial directors on the Articles of Incorporation shall be considered the initial voting members. |
=== Section 4: Voting Membership Dues === | === Section 4: Voting Membership Dues === | ||
| − | The amount, payment period, due date and acceptable methods for collection of dues shall be reviewed each year at the annual meeting, and shall be specified in the | + | The amount, payment period, due date and acceptable methods for collection of dues shall be reviewed each year at the annual meeting, and shall be specified in the [[Standing Rules]]. |
=== Section 5: Voting Membership Rights and Responsibilities === | === Section 5: Voting Membership Rights and Responsibilities === | ||
| − | Each voting member shall have an equal right to voice their opinion and vote their preference or abstain from voting in the affairs of the | + | Each voting member shall have an equal right to voice their opinion and vote their preference or abstain from voting in the affairs of the Corporation. Each voting member shall exercise only one vote for each decision before the Corporation. Each voting member shall have reasonable inspection rights of corporate records. Each voting member shall be responsible for timely payment of dues and will provide their current address, contact information, and preference for electronic receipt of communications. Each voting member is responsible for continuing to support the purposes of the Corporation. |
=== Section 6: Voting Membership Resignation and Termination === | === Section 6: Voting Membership Resignation and Termination === | ||
| − | Any voting member may resign by filing a resignation with any | + | Any voting member may resign by filing a resignation with any officer. Resignation shall not relieve a voting member of unpaid dues or other monies owed. Voting membership shall be suspended for non-payment of dues by the Treasurer after a period of three (3) months. Any suspended voting member may restore their membership as shall be specified in the [[Standing Rules]]. Voting membership may also be terminated for any reason by written petition signed by more than three fourths (3/4ths) of the voting members. If a member, through his or her actions, endangers the safety of members of the Corporation, or threatens the Corporation's lease and continued operation, that member's access to the space will be revoked. Subject to a two thirds (2/3rds) approval by voting members, that member will be terminated. |
| − | == Article III: How we meet == | + | === Section 7: Voting Membership Probation === |
| + | |||
| + | Voting membership may be made probationary for a period of 1 month for any reason by written petition signed by more than two thirds (2/3rds) of the voting members. At the conclusion of the probationary period a second vote will be held, membership will be terminated unless two thirds (2/3rds) of the voting members vote to fully reinstate said member. Any voting member voted into probationary status more than once within a one year period shall be terminated. | ||
| + | |||
| + | === Article III, Amendment I: Non-discrimination policy === | ||
| + | The Corporation does not and shall not discriminate on the basis of race, color, religion, creed, gender identity and expression, age, national or ethnic origin, disability, marital status, sexual orientation, political orientation, or military status, in any of its activities or operations. It is also The Corporation’s policy to comply with all applicable national, state, and local laws pertaining to nondiscrimination and equal opportunity. The Corporation is committed to providing an inclusive and welcoming environment for all members, clients, volunteers, and members of the local community at large. The Corporation expects all members to join with and uphold this commitment. Members of the Corporation or other individuals who believe that they have been discriminated against are strongly encouraged to report concerns to the Board of Directors. | ||
| + | |||
| + | == Article IV: How we meet == | ||
=== Section 1: Regular Meetings === | === Section 1: Regular Meetings === | ||
| − | Regular meetings of voting members shall be held as designated in the | + | Regular meetings of voting members shall be held as designated in the [[Standing Rules]]. |
=== Section 2: Annual Meetings === | === Section 2: Annual Meetings === | ||
| − | An annual meeting of all members shall take place sometime in January, February or March. The President shall select the date, time and place no later than January 31 of each year. The date, time and place of the annual meeting must be posted in the registered office and submitted to members electronically at least two weeks prior to the annual meeting. A petition signed by more than three quarters (3/4ths) of voting members and submitted to the Board of Directors before Valentine's Day may specify a new date, time and place for the annual meeting. At the annual meeting, the voting members shall elect the Board of Directors, review and vote on the | + | An annual meeting of all members shall take place sometime in January, February or March. The President shall select the date, time and place no later than January 31 of each year. The date, time and place of the annual meeting must be posted in the registered office and submitted to members electronically at least two weeks prior to the annual meeting. A petition signed by more than three quarters (3/4ths) of voting members and submitted to the Board of Directors before Valentine's Day may specify a new date, time and place for the annual meeting. At the annual meeting, the voting members shall elect the Board of Directors, review and vote on the [[Standing Rules]] and policies of the Corporation, receive reports on the activities of the Corporation, approve the budget and determine the direction of the Corporation in the coming year. |
=== Section 3: Special Meetings === | === Section 3: Special Meetings === | ||
| Line 71: | Line 85: | ||
=== Section 6: Conduct of Meetings === | === Section 6: Conduct of Meetings === | ||
| − | The conduct of all meetings shall follow the rules of order as specified in the | + | The conduct of all meetings shall follow the rules of order as specified in the [[Standing Rules]]. |
| − | == Article | + | |
| + | == Article V: The Officers == | ||
=== Section 1: Role, Number, Qualification, Term and Compensation === | === Section 1: Role, Number, Qualification, Term and Compensation === | ||
| − | There shall be | + | There shall be at least 3 and up to five officers, a President, a Secretary, a Treasurer, and as-needed two at-large officers. Each officer must be a voting member and each officer shall serve from the time of their election until their successor is elected and qualifies. No officer shall be compensated for their service as an officer, though the Corporation may provide insurance and indemnity for officers as allowed by law. |
=== Section 2: Duties of the President === | === Section 2: Duties of the President === | ||
| Line 91: | Line 106: | ||
The Treasurer shall serve as custodian of corporate funds, collect dues, present a financial report at each regular and annual meeting, assist in the preparation of the budget, make financial information available to members and the public, and serve all other duties of a Treasurer as required by law or custom. | The Treasurer shall serve as custodian of corporate funds, collect dues, present a financial report at each regular and annual meeting, assist in the preparation of the budget, make financial information available to members and the public, and serve all other duties of a Treasurer as required by law or custom. | ||
| − | === Section 5: Duties of the Officers as whole to provide an Annual Report === | + | === Section 5: Duties of the at-large officers === |
| + | |||
| + | The At-large officers shall be responsible for assisting with the duties of the President, Secretary, and Treasurer as required by law or custom. | ||
| + | |||
| + | === Section 6: Duties of the Officers as whole to provide an Annual Report === | ||
| + | |||
| + | The Officers must provide an annual report. The report shall chronicle the activities of the Corporation, including specific narratives on the Corporation's work, the Corporation's annual financial statements, relevant legal filings, and relevant copies of the organization's district and federal tax returns. | ||
| + | |||
| + | == Article VI: Directors == | ||
| + | |||
| + | === Section 1: Directors === | ||
| + | |||
| + | The Board of Directors shall consist of the officers of the Corporation. No director shall be compensated monetarily for his work as a director, although the Corporation may provide insurance and indemnity as permitted by Indiana law. | ||
| + | |||
| + | == Article VII: Conflict of Interest Policy == | ||
| + | |||
| + | === Section 1: Purpose === | ||
| + | The Corporation is a nonprofit, tax-exempt organization. Maintenance of its tax-exempt status is important both for its continued financial stability and for public support. Therefore, the IRS as well as state regulatory and tax officials view the | ||
| + | operations of the Corporation as a public trust, which is subject to scrutiny by and accountable to such governmental authorities as well as to members of the public. | ||
| + | |||
| + | Consequently, there exists between the Corporation and its board and officers and the public a fiduciary duty, which carries with it a broad and unbending duty of loyalty and fidelity. The board and its officers have the responsibility of administering the affairs of the Corporation honestly and prudently, and of exercising their best care, skill, and judgment for the sole benefit of the Corporation. Those persons shall exercise the utmost good faith in all transactions involved in their duties, and they shall not use their positions with the Corporation or knowledge gained therefrom for their personal benefit. The interests of the organization must be the first priority in all decisions and actions. | ||
| + | |||
| + | === Section 2: Persons Concerned: === | ||
| + | This statement is directed not only to directors and officers, but to all who can influence the actions of the Corporation. For example, this would include all full membership members, and anyone who has proprietary information concerning the Corporation. | ||
| + | |||
| + | === Section 3: Areas in Which Conflict May Arise === | ||
| + | Conflicts of interest may arise in the relations of directors and officers with any of the following third parties: | ||
| + | |||
| + | # Persons and firms supplying goods and services to the Corporation | ||
| + | # Persons and firms from whom the Corporation leases property and equipment | ||
| + | # Persons and firms with whom the Corporation is dealing or planning to deal in connection with the gift, purchase or sale of real estate, securities, or other property | ||
| + | # Competing organizations | ||
| + | # Agencies, organizations and associations which affect the operations of the Corporation | ||
| + | |||
| + | === Section 4: Nature of Conflicting Interest === | ||
| + | A conflicting interest may be defined as an interest, direct or indirect, with any persons or firms mentioned in Section 3. Such an interest might arise through: | ||
| + | |||
| + | # Owning stock or holding debt or other proprietary interests in any third party dealing with the Corporation | ||
| + | # Holding office, serving on the board, participating in management, or being otherwise employed (or formerly employed) with any third party dealing with the Corporation | ||
| + | # Receiving remuneration for services with respect to individual transactions involving the Corporation | ||
| + | # Receiving personal gifts or loans from third parties dealing or competing with the Corporation. Receipt of any gift is disapproved except gifts of a value less than $50, which could not be refused without discourtesy. No personal gift of money should ever be accepted. | ||
| + | |||
| + | === Section 5: Interpretation of this Statement of Policy === | ||
| + | The areas of conflicting interest listed in Section 3, and the relations in those areas which may give rise to conflict, as listed in Section 4, are not exhaustive. Conflicts might arise in other areas or through other relations. It is assumed that the directors and officers will recognize such areas and relation by analogy. The fact that one of the interests described in Section 4 exists does not necessarily mean that a conflict exists, or that the conflict, if it exists, is material enough to be of practical importance, or if material, that upon full disclosure of all relevant facts and circumstances it is necessarily adverse to the interests of the Corporation. However, it is the policy of the board that the existence of any of the interests described in Section 4 shall be disclosed before any transaction is consummated. It shall be the continuing responsibility of the board and officers to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures. | ||
| + | |||
| + | === Section 6: Disclosure Policy and Procedure === | ||
| + | Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: | ||
| + | # The conflicting interest is fully disclosed; | ||
| + | # The person with the conflict of interest is excluded from the discussion and approval of such transaction; | ||
| + | # A competitive bid or comparable valuation exists; and | ||
| + | # The board has determined that the transaction is in the best interest of the organization. | ||
| + | |||
| + | Disclosure in the organization should be made to the president (or if she or he is the one with the conflict), then to the treasurer, who shall bring the matter to the attention of the board. Disclosure involving directors should be made to the president or if she or he is the one with the conflict, then to any other board member who shall bring these matters to the board or a duly constituted committee. | ||
| + | |||
| + | The board or a duly constituted committee shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to the Corporation. The decision of the board or a duly constituted committee thereof on these matters will rest in their sole discretion, and their concern must be the welfare of the Corporation and the advancement of its purpose. | ||
| + | |||
| + | == Article VIII: Amendments == | ||
| + | |||
| + | === Section 1: Amendments === | ||
| + | |||
| + | These bylaws may be amended only when an amendment proposal petition is approved at a membership meeting and the amendment is signed by all (100%) of responding voting members. A good-faith attempt must be made to contact all voting members with notice of such petition in solicitation of a response vote. This attempt may be made electronically. | ||
| + | |||
| + | Voting members must be given at least two weeks to give a response vote. If a response vote is not received from a voting member during the voting period, their absence of vote will not affect the result of the vote. | ||
| + | |||
| + | == Article IX: Dissolution == | ||
| + | |||
| + | === Section 1: Dissolution === | ||
| + | |||
| + | If Corporation is forced to dissolve due to unfortunate circumstances, court order, or planned dissolution, the remaining assets and funds of the Corporation will be dispersed to a 501(c)(3) organization with similar purpose, as determined by the board of directors. | ||
| + | |||
| + | |||
| + | == Adoption and amendment history == | ||
| + | |||
| + | * Amended 2019-05-22 | ||
| + | ** Changed amendment procedure (Article 8, Section 1) | ||
| + | |||
| + | * Amended 2017-11-06 | ||
| + | ** Added non-discrimination policy amendment (Article 3, Amendment 1) | ||
| + | |||
| + | * Amended 1-25-2015 | ||
| + | ** Added 2 at-large officer roles, and Article 1 section 1 minor grammar change. | ||
| + | |||
| + | *Amended 9-10-2014 | ||
| + | ** added Location and Nature of Conflicting Interest articles | ||
| − | + | * Bylaws adopted 12-17-2012 (Corporation formation date) | |
| − | |||
| − | + | [[Category: Operations]] | |
Latest revision as of 11:25, 19 June 2019
This is the core governing document of Bloominglabs.
[edit] Article I: Name And Why We Exist
[edit] Section 1: Name
The name of the organization shall be Bloominglabs Incorporated, further referenced herein as the “Corporation”.
[edit] Section 2: General Purposes
The Corporation is organized exclusively for charitable, educational, and scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986 (or the corresponding section of any future United States Internal Revenue law). The mission of the Corporation is to benefit its members with knowledge and resources as well as the community with said resources and to foster a collaborative environment wherein people can explore and create intersections between technology, science, art, and culture.
[edit] Section 3: Specific Purposes
Subject to and within the limits of Section 2, the Corporation shall:
- Acquire and maintain a collaborative workspace for communal use by all members.
- Foster a creative, collaborative environment for experimentation and development in technology and art.
- Interact with the local community that our space is situated in through education and cultural participation.
- Share our developments and ideas with the world at large.
- Facilitate communication with other spaces and colleagues nationally and internationally. Invite experts and other creative individuals to share their ideas and projects.
[edit] Article II: Location
[edit] Section 1: Location
The Corporation shall continuously maintain in the State of Indiana a registered office and a registered agent whose business office, for the purposes of this corporation, is identical with such registered office. The registered office shall be the physical location of our workspace. In the event that we do not have a physical workspace, the registered office shall be determined by the board of directors.
[edit] Article III: Who We Are
[edit] Section 1: Designation of Membership Classes
The Corporation has a two membership classes. Class I is designated by paying full monthly dues and has full voting rights. Class II is designated by paying a reduced rate of monthly dues based on hardship and has no voting rights.
[edit] Section 2: Membership Qualifications
Any person who supports the purposes laid out in Article I of these bylaws may apply to become a member.
[edit] Section 3: Voting Membership Class Election
The Standing Rules shall specify procedures for inducting new members. For purposes of these bylaws, all persons listed as initial directors on the Articles of Incorporation shall be considered the initial voting members.
[edit] Section 4: Voting Membership Dues
The amount, payment period, due date and acceptable methods for collection of dues shall be reviewed each year at the annual meeting, and shall be specified in the Standing Rules.
[edit] Section 5: Voting Membership Rights and Responsibilities
Each voting member shall have an equal right to voice their opinion and vote their preference or abstain from voting in the affairs of the Corporation. Each voting member shall exercise only one vote for each decision before the Corporation. Each voting member shall have reasonable inspection rights of corporate records. Each voting member shall be responsible for timely payment of dues and will provide their current address, contact information, and preference for electronic receipt of communications. Each voting member is responsible for continuing to support the purposes of the Corporation.
[edit] Section 6: Voting Membership Resignation and Termination
Any voting member may resign by filing a resignation with any officer. Resignation shall not relieve a voting member of unpaid dues or other monies owed. Voting membership shall be suspended for non-payment of dues by the Treasurer after a period of three (3) months. Any suspended voting member may restore their membership as shall be specified in the Standing Rules. Voting membership may also be terminated for any reason by written petition signed by more than three fourths (3/4ths) of the voting members. If a member, through his or her actions, endangers the safety of members of the Corporation, or threatens the Corporation's lease and continued operation, that member's access to the space will be revoked. Subject to a two thirds (2/3rds) approval by voting members, that member will be terminated.
[edit] Section 7: Voting Membership Probation
Voting membership may be made probationary for a period of 1 month for any reason by written petition signed by more than two thirds (2/3rds) of the voting members. At the conclusion of the probationary period a second vote will be held, membership will be terminated unless two thirds (2/3rds) of the voting members vote to fully reinstate said member. Any voting member voted into probationary status more than once within a one year period shall be terminated.
[edit] Article III, Amendment I: Non-discrimination policy
The Corporation does not and shall not discriminate on the basis of race, color, religion, creed, gender identity and expression, age, national or ethnic origin, disability, marital status, sexual orientation, political orientation, or military status, in any of its activities or operations. It is also The Corporation’s policy to comply with all applicable national, state, and local laws pertaining to nondiscrimination and equal opportunity. The Corporation is committed to providing an inclusive and welcoming environment for all members, clients, volunteers, and members of the local community at large. The Corporation expects all members to join with and uphold this commitment. Members of the Corporation or other individuals who believe that they have been discriminated against are strongly encouraged to report concerns to the Board of Directors.
[edit] Article IV: How we meet
[edit] Section 1: Regular Meetings
Regular meetings of voting members shall be held as designated in the Standing Rules.
[edit] Section 2: Annual Meetings
An annual meeting of all members shall take place sometime in January, February or March. The President shall select the date, time and place no later than January 31 of each year. The date, time and place of the annual meeting must be posted in the registered office and submitted to members electronically at least two weeks prior to the annual meeting. A petition signed by more than three quarters (3/4ths) of voting members and submitted to the Board of Directors before Valentine's Day may specify a new date, time and place for the annual meeting. At the annual meeting, the voting members shall elect the Board of Directors, review and vote on the Standing Rules and policies of the Corporation, receive reports on the activities of the Corporation, approve the budget and determine the direction of the Corporation in the coming year.
[edit] Section 3: Special Meetings
A petition presented to all voting members and approved by one half (1/2) of voting members may call a special meeting. Such a petition must include the date, time, place and agenda of the special meeting. Notification of the result of the petition shall be presented to all members prior to the meeting.
[edit] Section 4: Quorum
At a duly called meeting, at least 25% (one quarter) of the entire voting membership shall constitute a quorum.
[edit] Section 5: Voting
When a quorum is present, all issues, except when otherwise specified in these bylaws, shall be decided by affirmative vote of more than 50% (one half) of the voting members present.
[edit] Section 6: Conduct of Meetings
The conduct of all meetings shall follow the rules of order as specified in the Standing Rules.
[edit] Article V: The Officers
[edit] Section 1: Role, Number, Qualification, Term and Compensation
There shall be at least 3 and up to five officers, a President, a Secretary, a Treasurer, and as-needed two at-large officers. Each officer must be a voting member and each officer shall serve from the time of their election until their successor is elected and qualifies. No officer shall be compensated for their service as an officer, though the Corporation may provide insurance and indemnity for officers as allowed by law.
[edit] Section 2: Duties of the President
The President shall preside over all meetings or designate an alternate, attempt to achieve consensus in all decision-making, ensure the membership is informed of all relevant issues, and serve other duties of a President as required by law or custom.
[edit] Section 3: Duties of the Secretary
The Secretary shall be responsible for maintaining membership and corporate records and for serving all other duties of a Secretary as required by law or custom.
[edit] Section 4: Duties of the Treasurer
The Treasurer shall serve as custodian of corporate funds, collect dues, present a financial report at each regular and annual meeting, assist in the preparation of the budget, make financial information available to members and the public, and serve all other duties of a Treasurer as required by law or custom.
[edit] Section 5: Duties of the at-large officers
The At-large officers shall be responsible for assisting with the duties of the President, Secretary, and Treasurer as required by law or custom.
[edit] Section 6: Duties of the Officers as whole to provide an Annual Report
The Officers must provide an annual report. The report shall chronicle the activities of the Corporation, including specific narratives on the Corporation's work, the Corporation's annual financial statements, relevant legal filings, and relevant copies of the organization's district and federal tax returns.
[edit] Article VI: Directors
[edit] Section 1: Directors
The Board of Directors shall consist of the officers of the Corporation. No director shall be compensated monetarily for his work as a director, although the Corporation may provide insurance and indemnity as permitted by Indiana law.
[edit] Article VII: Conflict of Interest Policy
[edit] Section 1: Purpose
The Corporation is a nonprofit, tax-exempt organization. Maintenance of its tax-exempt status is important both for its continued financial stability and for public support. Therefore, the IRS as well as state regulatory and tax officials view the operations of the Corporation as a public trust, which is subject to scrutiny by and accountable to such governmental authorities as well as to members of the public.
Consequently, there exists between the Corporation and its board and officers and the public a fiduciary duty, which carries with it a broad and unbending duty of loyalty and fidelity. The board and its officers have the responsibility of administering the affairs of the Corporation honestly and prudently, and of exercising their best care, skill, and judgment for the sole benefit of the Corporation. Those persons shall exercise the utmost good faith in all transactions involved in their duties, and they shall not use their positions with the Corporation or knowledge gained therefrom for their personal benefit. The interests of the organization must be the first priority in all decisions and actions.
[edit] Section 2: Persons Concerned:
This statement is directed not only to directors and officers, but to all who can influence the actions of the Corporation. For example, this would include all full membership members, and anyone who has proprietary information concerning the Corporation.
[edit] Section 3: Areas in Which Conflict May Arise
Conflicts of interest may arise in the relations of directors and officers with any of the following third parties:
- Persons and firms supplying goods and services to the Corporation
- Persons and firms from whom the Corporation leases property and equipment
- Persons and firms with whom the Corporation is dealing or planning to deal in connection with the gift, purchase or sale of real estate, securities, or other property
- Competing organizations
- Agencies, organizations and associations which affect the operations of the Corporation
[edit] Section 4: Nature of Conflicting Interest
A conflicting interest may be defined as an interest, direct or indirect, with any persons or firms mentioned in Section 3. Such an interest might arise through:
- Owning stock or holding debt or other proprietary interests in any third party dealing with the Corporation
- Holding office, serving on the board, participating in management, or being otherwise employed (or formerly employed) with any third party dealing with the Corporation
- Receiving remuneration for services with respect to individual transactions involving the Corporation
- Receiving personal gifts or loans from third parties dealing or competing with the Corporation. Receipt of any gift is disapproved except gifts of a value less than $50, which could not be refused without discourtesy. No personal gift of money should ever be accepted.
[edit] Section 5: Interpretation of this Statement of Policy
The areas of conflicting interest listed in Section 3, and the relations in those areas which may give rise to conflict, as listed in Section 4, are not exhaustive. Conflicts might arise in other areas or through other relations. It is assumed that the directors and officers will recognize such areas and relation by analogy. The fact that one of the interests described in Section 4 exists does not necessarily mean that a conflict exists, or that the conflict, if it exists, is material enough to be of practical importance, or if material, that upon full disclosure of all relevant facts and circumstances it is necessarily adverse to the interests of the Corporation. However, it is the policy of the board that the existence of any of the interests described in Section 4 shall be disclosed before any transaction is consummated. It shall be the continuing responsibility of the board and officers to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures.
[edit] Section 6: Disclosure Policy and Procedure
Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed:
- The conflicting interest is fully disclosed;
- The person with the conflict of interest is excluded from the discussion and approval of such transaction;
- A competitive bid or comparable valuation exists; and
- The board has determined that the transaction is in the best interest of the organization.
Disclosure in the organization should be made to the president (or if she or he is the one with the conflict), then to the treasurer, who shall bring the matter to the attention of the board. Disclosure involving directors should be made to the president or if she or he is the one with the conflict, then to any other board member who shall bring these matters to the board or a duly constituted committee.
The board or a duly constituted committee shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to the Corporation. The decision of the board or a duly constituted committee thereof on these matters will rest in their sole discretion, and their concern must be the welfare of the Corporation and the advancement of its purpose.
[edit] Article VIII: Amendments
[edit] Section 1: Amendments
These bylaws may be amended only when an amendment proposal petition is approved at a membership meeting and the amendment is signed by all (100%) of responding voting members. A good-faith attempt must be made to contact all voting members with notice of such petition in solicitation of a response vote. This attempt may be made electronically.
Voting members must be given at least two weeks to give a response vote. If a response vote is not received from a voting member during the voting period, their absence of vote will not affect the result of the vote.
[edit] Article IX: Dissolution
[edit] Section 1: Dissolution
If Corporation is forced to dissolve due to unfortunate circumstances, court order, or planned dissolution, the remaining assets and funds of the Corporation will be dispersed to a 501(c)(3) organization with similar purpose, as determined by the board of directors.
[edit] Adoption and amendment history
- Amended 2019-05-22
- Changed amendment procedure (Article 8, Section 1)
- Amended 2017-11-06
- Added non-discrimination policy amendment (Article 3, Amendment 1)
- Amended 1-25-2015
- Added 2 at-large officer roles, and Article 1 section 1 minor grammar change.
- Amended 9-10-2014
- added Location and Nature of Conflicting Interest articles
- Bylaws adopted 12-17-2012 (Corporation formation date)
