A monthly
contribution of $25 for stock purchases is recommended. (Feb 7, 2000)
It should
be clear that taxes due on Partnership assets must be paid by each individual
with money from outside the Partnership. (June 26, 2000)
All
partners are responsible for providing current addresses, phone numbers, and
email addresses to the Recording Partner, so that notification of events can be
made in a timely fashion. It is intended that
email will be the principal means of communication between partners.
(June 26, 2000)
Fees for
checks returned because of insufficient funds or for any other reason shall be
the responsibility of the individual partner. (June 26, 2000)
In the
event that one of the offices of the partnership becomes vacant, the partners
may elect a person to fill the position. Such
an election shall occur at one of the regularly scheduled meetings of the
partnership. A simple majority of all partners
shall be required for election. The term of the
person so elected shall last until the end of the year. (Mar 20, 2000)
In the
event that the office of Financial Partner becomes vacant, the Assistant
Financial Partner will become the Financial Partner. In the event that the office of Senior Partner, Junior
Partner, Recording Partner, or Assistant Financial Partner becomes vacant, the
partners may elect a partner to fill the remainder of the current term for the
vacated office. (Mar 20, 2000)
It shall be
the duty of the Senior Partner to preside at meetings, appoint committees, and
oversee Club activities. (June 26, 2000)
The Junior
Partner shall assume the duties of the Senior Partner when the Senior Partner is
absent or temporarily unable to carry out duties. In addition, the Junior Partner will be responsible for the
educational program of the Partnership. (June 26, 2000)
The
Recording Partner shall keep a record of Club activities, and report on previous
meetings. (June 26, 2000)
The
Financial Partner shall place buy and sell orders on instruction from the Club,
collect and disburse funds, maintain a set of books covering the Club's
financial operations, assets, and the partners' shares. This Partner shall prepare an annual statement of
liquidating value, and prepare proper tax forms. The Financial Partner shall prepare a monthly valuation
statement and a members status report for presentation at the monthly meeting.
Partners may request additional standard reports before the meeting.
(June 26, 2000)
The
Assistant Financial Partner shall be kept appraised of the Financial Partner's
duties and activities, and shall be ready to assume those duties when needed.
(June 26, 2000)
The annual
accounting should occur in January or early February, in time for tax filing by
April 15. (June 26, 2000)
The number
of partners shall not exceed 25. (Feb 7, 2000)
The period
of time after which a partner who has failed to attend meetings shall be deemed
to be removed automatically shall be six months. (Feb 7, 2000)
Each by-law
should show the date on which it became effective. (June 26, 2000)