Bylaws of the Canadian-Chinese Finance Association
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September, 2006
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The Organization
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Name: The Canadian-Chinese Finance Association® or the CCFA in the following text.
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The CCFA is an independent and not-for-profit organization of professionals and scholars who are of Chinese origin and work in finance or its related areas, including banking, investment, insurance, education institutions, government agencies, etc.
Mission Statements
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The CCFA seeks to facilitate information exchange in research, education, regulation and business practices of finance and its related areas in Canada and China.
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The CCFA encourages members to understand both Canadian and Chinese financial systems in a broad view and actively participate in the modernization process of Chinese financial industry.
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The CCFA welcomes opportunities, which conform to Bylaws and the interests of the CCFA members, in such forms as joint research projects, education programs, publications or any others, in finance or its related areas.
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The CCFA encourages members to develop their career path and professional competency in conformity with Bylaws.
Membership
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Anyone (or a group) is eligible to apply for the membership if and only if he/she commits to the Mission Statements, agrees to abide by the Bylaws of the CCFA and will pay membership due. The membership application and any exemption(s) of the above requirements are subject to the approval of the Executive Committee.
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A member may withdraw from the CCFA by delivering a written notice to the Executive Committee of the CCFA.
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A member needs to keep active membership status by paying membership
due on an annual basis. Failure to maintain active status may result
in the loss of membership.
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A member may be required at any time to withdraw from the CCFA by a
vote of three-fourths (3/4) at a general meeting of the CCFA.
Member Rights and Duties
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Members can vote at the CCFA all general meetings.
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Members can access any services for the members provided by the CCFA.
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Members with active membership status for more than one year can be
elected to the Board of Directors.
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A member can be disciplined for any misconduct that violates the
Bylaws by the means specified by the Executive Committee or the
Board of Directors. The member is entitled to the right to request a
review on any dispute or disciplinary action within the CCFA by the
Board of Arbitration.
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The CCFA is incorporated in Ontario, Canada. Members must obey all
the related regulations and laws of Canada and Province of
Ontario.
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Members should observe a higher standard of ethical codes and
professionalism.
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Members are not allowed to express opinions or to sign any
documents on behalf of the CCFA without authorization of the
Board of Directors or the Executive Committee.
Board of Directors
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A member of the CCFA is elected to be a director with at least an
affirmative vote of two-thirds (2/3) of the members at a general meeting
duly called for the purpose of general election. A Board of Directors is
elected with a regular term of five (5) years.
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The Board of Directors appoints the President and approves the
appointments of other members in the Executive Committee nominated by
the President. The Board of Directors also appoints the Board of
Arbitration and the Advisors in the Advisory Committee.
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The Board of Directors may request at any time to conduct an internal
or external audit of the financial statements of the CCFA or to review
the performance of the Executive Committee or to call for an early or
regular election by calling a general meeting.
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The Chairperson of the Board of Directors is elected by the members
of the Board. The term of the Chairperson is not longer than that of
the Board.
Executive Committee
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The President is elected with a regular term of three (3) years, and can
be extended by the Board of Directors. The President nominates the members
in the Executive Committee, which is subject to the approval of the Board
of Director. The Executive Committee is responsible for daily operations
and project executions of the CCFA.
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The Executive Committee may authorize the use of fund within a limit set
by the Board of Directors. For other spending plans, the Executive
Committee needs approval in advance from the Board of Directors.
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The Executive Committee may set certain internal regulations and
guidelines regarding the spending of budget and cost control.
Advisory Committee
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A distinguished scholar, politician or business leader who supports the
ideas of the CCFA may be nominated by any member of the CCFA to the
Advisory Committee.
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The nomination of the Advisory must be approved by an affirmative vote
of two-thirds (2/3) of the Board of Directors.
Board of Arbitration
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The Board of Directors appoints the Board of Arbitration with a regular
term of two (2) years. The members of the Board of Arbitration should not
be in the Executive Committee.
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At the request of the Board of Directors, the Board of Arbitration
handles members' complaints, disputes and other issues that can not be
settled by the Executive Committee and are within the jurisdiction of
the CCFA.
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The Board of Arbitration can not hand out a verdict or resolution if
the matter is out of the jurisdiction of the CCFA.
Fund and Property
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No officer, Director or any member of the CCFA is entitled to any direct
or indirect financial benefits from the CCFA’s fund or property, as
defined by the not-for-profit organization.
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All the contributions, membership dues and incomes from services
provided by the CCFA can only be used for the covering the expenses of
the projects organized by the CCFA, the office operation costs such as
office and equipment rentals, office personnel costs, publications and
web sites maintenance, etc.
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The expenses for any project carried by the CCFA can be either a fixed
amount set by the Executive Committee prior to the start of the
project, or is variable pending on the situations, but the expenses
must be approved by the Executive Committee or the Board of Directors.
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CCFA's finance and assets are managed by a special finance committee
appointed by the Board of Directors. A treasure is appointed by this
committee to take care of daily account activities.
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All the account activities must be clearly recorded for annual
audit and tax filing.
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All expenditures must be approved by at least one member of the
committee.
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The committee reports to the Board of Directors on the current
status of assets and liabilities at least once a year
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