The most significant changes in Articles 7-12 are to the process for amending the Constitution in Article 12. Please comment below or email email@example.com.
ARTICLE VII: Contracts, Checks, Bank Accounts and Investments
Section 1. Checks. Notes and Contracts. The Executive Committee is authorized to select such depositories as it shall deem proper for the funds of the Society and shall determine who shall be authorized in the Society’s behalf to sign bills, notes, receipts, acceptances, endorsements, checks, releases, contracts and documents.
Section 2. Investments. The funds of this Society may be retained in whole or in part in cash or be invested and reinvested from time to time in such property, real, personal or otherwise, or stocks, bonds or other securities, as the Executive Committee in its discretion may deem desirable.
ARTICLE VIII: Office and Books
Section 1. Office. The office of the Society shall be located at such place as the Executive Committee may from time to time determine.
Section 2. Books. There shall be kept at the office of the Society correct books of account of the activities and transactions of the Corporation including a minute book, which shall contain a copy of the Certificate of Incorporation, a copy of this Constitution and By Laws, and all minutes of the meetings of the members and of the Executive Committee.
ARTICLE IX: Corporate Seal
The seal of the Society shall be circular in form and shall bear the name of the Society and words and figures showing that it was incorporated in the State of New York and the year of incorporation.
ARTICLE X: Fiscal Year
The fiscal year of the Society shall run from December 1 to November 30.
ARTICLE XI: Indemnification
The Society may, to the fullest extent now or hereafter permitted by law, indemnify any person made, or threatened to be made a party to any action or proceeding by reason of the fact that he/ she, his/her testator or intestate was a member of the Executive Committee or any other committee of the Society, or an officer, employee or agent of the Society, against judgments, fines, amounts paid in settlement, and reasonable expenses, including attorneys’ fees.
ARTICLE XII: Amendments
This Constitution and By Laws may be amended in the following manner: A proposed amendment supported by a written petition signed by at least ten members of the Society shall be submitted to the secretary-treasurer for action by the Executive Committee. If the Executive Committee approves the amendment, it will be submitted by email to the members of the Society for approval. If the Executive Committee does not approve the proposal, it will be an agenda item at the next annual meeting. If approved by a majority at the annual meeting, it will be submitted by email to the members of the Society for approval. Final approval of the amendment shall be by a two-thirds majority of all votes cast.