Formal SVX Club

[svxxx26]

<<Probably so, then, cut and paste our entries from here, and delete the original message.>>

Sounds like a good project for you, Aredub!
Some advice to any "newbies": You might want to avoid the "tater salad"

[svxter]

I've posted the first articles of a draft constitution in the SVX Owner's Club Organization thread. I'll put the rest up in a day or so. Please read and comment. This is not intended to be any kind of proposed document, but rather a starting point for discussion.

[mohrds]

I'm not sure whether to reply here or in the new forum, but here's my thoughts. These are only MY thoughts, please don't take offense.

It's great! It looks like a good start and should be pretty easy to refine to our needs.

I'd recommend that we incorporate as a 501c3 non-profit corporation meaning Section 501(c)(3) of the Internal Revenue Code of 1954. It would give the officers personal liability protection as well as allow us easier record keeping for membership dues, fund raisers, and corporate donations (I'm dreaming here).

I know where to start that process when the time comes to go there.
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A couple of things I think we should formalize:
Article III, Add section)
Members in Good Standing
A-member in good standing shall be a member who has remitted the dues as established.

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Article III,4 revise to)
Membership in the Club shall entitle the member to vote in elections after he/she has been a member in good standing for at least sixty (60) calendar days and to receive the official Club publication.

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Article 5, add a section)
Duties

A)President
The president shall be the chief executive officer of the corporation and shall preside at all meetings of the corporation and its Board of Directors, and shall exercise general supervision over the affairs of the corporation.

B) Vice-President
The vice-president shall discharge the duties of the president in the event of absence or disability of the president, and be a member ex-officio of all committees.

C) Secretary
The secretary shall keep the minutes of SVX Club meetings, see that all notices are given in accordance with the Bylaws, be custodian of corporate records and in general perform all duties incidental of the office of secretary.

D) Treasurer
The treasurer shall have charge and custody of and be responsible for, the funds, and securities of the corporation, and keep an accurate account of all corporate funds.

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Article 5, delete 5c and add section for)
CONTRACTS, LOANS, CHECKS & DEPOSITS

Section 1: Contracts
The Board of Directors may authorize any officer or officers, agent or agents to enter into any contract or execute and deliver any instrument in the name of, and on behalf of, the corporation, and such authorization may be general or confined to specific instances.

Section 2: Loans
No loan shall be contracted on behalf of the corporation and no evidences of indebtedness shall be issued in its name unless authorized by or under the authority of resolution of the Board of Directors and approved by a three-quarters (3/4) majority of the voting members. Such authorization may be general or confined to specific instances.

Section 3: Checks, Drafts, etc.
All checks, drafts or other orders for payment of money, notes, or other evidences of indebtedness shall be issued in the name of the corporation and signed by the president or treasurer. Checks for the amount of $1000.00 or more shall be signed by the president or treasurer and initialed by one other officer. Payments shall be issued in such a manner as shall be from time to time determined by or under the authority of a resolution of the Board of Directors and voting members.

Section 4: Deposits
All funds of the corporation not otherwise employed shall be deposited from time to time to the credit of the corporation in such banks, trust companies or other depositories as may be selected by or under the authority of the Board of Directors.

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Add an article for)

FISCAL YEAR
The fiscal year of the corporation shall begin on the first day of January and end on the thirty first day of December in each year.




Doug

[svxter]

Doug

Great suggestions! In particular, thanks for the wording on 501 C 3 organizations. I just couldn't remember what the appropriate section of the code was, many thanks.

I'm thrilled, and certainly not offended, by your suggestions. Keep the comments coming, in particular, point out flaws and omissions. I hope everyone interested will offer their comments, this has to reflect not just my thinking, or yours, or just the both of us, but that of the entire group. I'm just trying to kick-start the process.

I'll post a draft of the Articles that weren't in the first posting, then begin incorporating suggestions and modifictions into a second draft.

[Aredubjay]

<<I'm just trying to kick-start the process. >>

And I, for one, Bill, really appreciate it. I've had to hammer throught this stuff before and it just ain't my idea of fun. I appreciate your willingness to take the reins. I haven't read first draft yet. I'll wait until you've inserted Doug's revisions and then, take a look.

Doug, kudos on your revisions.

As far as 501 c 3 status, our ministry group had to abandon that due to the cost (I can't remember, exactly but it was between 300- 500 bucks to file the many paged document -- of course ministry groups have a few more blanks to fill out than your standard "club.").

Doug, can you confirm this, or is there a less expensive route? Just wondering.

Again, way to go -- thanks for going forward.

[svxter]

Randy

I wonder if part of that cost might have been associated with the state in which it was incorporated? I suspect different states might have different filing fees, when you file the incorporation papers. Also, how much of that represented legal fees? Our neighborhood association incorporated a couple of years back, and I think it was a 501 c 3 organization. Fortunately, Rural Legal Services was willing to do the legal work pro bono, and if I recall correctly, there was only a $20.00 filing fee to register the corporation with the state of Tennessee. So, I'm wondering if those factors were what jacked up the cost, rather than the particular section of the IRS code under which it was incorporated?

I think Doug's on target there -501 c 3 is the way we have to go.

As for doing this, I'm perfectly willing to play copy editor.

Since you'll be seeing Doug and others who are interested in this in about ten days, I trust you'll have some extended conversations on these matters, which we can continue a couple of weeks later.

PS. I've posted a question for you and your tech manual in Tech Q&A, when you get the time to look something up for me. TIA

PPS. Oops, never mind. I see you've posted a link to the appropriate page in the manual. Right rear wheel ABS sensor.

[Aredubjay]

It's a bit foggy now, but, I believe that filing fee was federal. We had already "Incorporated" in Kentucky, but, in order to gain "tax exempt status" we had to file a long, drawn-out document with the feds. Perhaps we won't need that with this club. Our legal and accounting work was also done "pro bono" so, there were no costs involved there. And, again, it may be different with a "Religious" organization. But, yes, I agree that 501 c 3 is the way to go.

[svxter]

I've just uploaded the rest of a first draft constitution. As always, please read and comment. I'm sure there's much that stands in need of work.

[svxter]

I've posted a complete text of a draft constitution, with Doug's suggested changes incorporated. Please review, comment and revise.