William Penn Life, 2016 (51. évfolyam, 1-12. szám)

2016 / Különszám

WILLIAM PENN ASSOCIATION BY-LAWS

4. Only the Certificate holder who is the Adult Benefit Member shall have the right to vote and participate in meeting discussions at Branch meetings and, if at least age eighteen, to hold office.

Section 605. NOMINATIONS - Nominations for candidates for Branch office may be made from a nominating committee appointed by the Branch President. Such nominations may also be made from the floor at the annual meeting of the Branch in November or December of even number years by those members in attendance under Section 606.

Section 606. ELIGIBILITY AND ELECTION

1. ELIGIBILITY - Only an Adult Benefit Member who is at least age eighteen and who is not directly involved in litigation or a written claim against the Association, except for claims under a certificate of insurance, is eligible to be a Branch Officer. No Full-Time Agent, General Agent, or anyone who is licensed to sell for another life insurance company, or a spouse of any of the above is eligible to be a Branch Officer.

2. ELECTION OF BRANCH OFFICERS - The election of Branch Officers shall be held every two (2) years in even number years commencing in November or December 2012. Each Adult Benefit Member shall have one (1) vote for each office. Elections shall be by a majority of those present at such annual meeting. Officers elected at such annual meeting shall be installed immediately.

Section 607. TERMS AND VACANCIES

1. EXISTING BRANCHES - The term of office of all Branch Officers in existing Branches shall begin upon their installation and shall expire when their successors are elected at the annual meeting in November or December of even number years. Likewise, the term of office with regard to election to vacancies in existing branches shall expire when their successors are elected at the annual meeting in November or December of even number years. A vacancy for the office of Branch President shall be filled by the Branch Vice President. A vacancy for the offices of Branch President (when there is no Branch Vice President to assume the office), Branch Vice President, Branch Auditor, Branch Recording Secretary and Branch Treasurer shall be filled by election as promptly as possible at the next regular or special meeting of the Branch following the occurrence of said vacancy.

2. NEW BRANCHES - The election of officers in new Branches shall be held at the first regular meeting of that Branch. The term of office of all Branch Officers elected at that meeting shall expire upon the election of their successors at the annual meeting in November or December of even number years.

Section 608. BRANCH OFFICERS AND DUTIES

1. The Branch Officers shall be: Branch President, one Branch Vice President, Branch Recording Secretary, Branch Treasurer, and two (2) but not more than three (3) Branch Auditors. There shall not be any other Branch Officers or boards appointed or elected, unless approved by the Board of the Association. Each Branch Officer must not have any business or personal interests which would either be competitive in the sale of life insurance, annuities

and similar life insurance products or constitute a conflict of interest in relation to the business operations of the Association.

2. The offices of Branch Recording Secretary and Branch Treasurer may be held by one person. No member may be an officer unless he or she has a right to vote and has attained at least age eighteen.

3. Any Branch Officer failing to attend three (3) successive meetings without good excuse shall be considered as having vacated his or her office. The Branch membership shall discuss and determine the validity of such excuse.

If the Branch membership determines that the Branch Officer has vacated his or her office, the Branch President or, in the alternative, the Branch Recording Secretary shall immediately forward a report of charges to the Board for action under Article 7 of these By-Laws.

4. The Branch President shall preside at all meetings and conduct them according to the prescribed rules. He or she shall vote only in case of a tie vote; appoint committees; and approve and sign orders, together with the Branch Treasurer, drawn on the Branch treasury for the payment of money. The Branch President shall have the duty of general supervision over the affairs of the Branch.

5. In the absence, disability, or inability to act of the Branch President, the Branch Vice President shall perform the duties of the Branch President until the next annual meeting in November or December of even number years. In the absence, disability or inability to act of both the Branch President and the Branch Vice President at a Branch meeting, then the Branch Recording Secretary shall conduct the meeting and appoint an Acting Branch Recording Secretary to record the minutes at such meeting.

6. The Branch Recording Secretary shall keep a record of the proceedings of the Branch meetings.

7. The Branch Treasurer shall have the custody of all money belonging to the Branch; give receipts therefor; keep a correct account of all money received and paid out by him or her; and pay all orders drawn by the Branch Recording Secretary and approved by the Branch President. He or she shall deposit all funds received by the Branch for any of its activities in one Branch checking account so that a clear record of all Branch financial transactions is maintained. If other accounts are established for Branch activities, all deposits or withdrawals must be made through the Branch checking account. Separate records shall be maintained for each account in the Branch ledger, but there shall be only one Branch checking account.

8. The Branch Auditors shall, no less frequently than annually, but for any Branch with total assets of at least $10,000 no less frequently than semi-annually, examine the financial records and bank accounts of the Branch Treasurer and, after each such examination, give a written report thereof to the Branch meeting with a copy to the National Vice President-Secretary. The Branch Auditors shall send an annual report to the National Vice President-Secretary on forms furnished by the Home Office.

9. The Branch Officers shall be responsible for filing all forms (and furnishing the Home Office with copies of same at the time of filing) and paying all taxes, fees, and

32 0 Special Convention Edition ° January 2016 ° William Penn Life