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ARTICLE II. MEMBERS

Section 1. Membership

Any person regularly engaged as a fixed income professional shall be eligible for membership in the Corporation.

Any eligible person who wishes to become a member of the Corporation must first:

  • Complete the Corporation's membership application form and send it to the Chairperson of the Corporation's Membership Committee, and
  • Be elected by a majority of the Board of Directors present at a meeting of the Board, if a quorum is present at such meeting.

No person shall be deemed a member of the Corporation unless he/she shall have been given notification from the Board of such election.

The Board of Directors of the Corporation may establish such other criteria for membership, including, but not limited to, standards relating to professional activities and ethical conduct and, a schedule of dues and initiation fees, as it deems appropriate.

Section 1.A. Regular Membership

This category of membership is open to all candidates who are regularly engaged as a fixed income professional. The Board of Directors shall fix the dues, as it deems appropriate.

Section 1.B. Associate Membership

This category of membership is open to all candidates under the age of 25 and are regularly engaged as a fixed income professional or be a retired member of the fixed income industry. The Board of Directors shall fix the dues, as it deems appropriate.

Section 1.C. Academic Membership

The Academic Member category has been established for faculty members of graduate and undergraduate programs at recognized universities and schools. The Board of Directors shall fix the dues, as it deems appropriate.

Section 1.D. Student Membership

The Student Membership category has been established for individuals currently enrolled full-time in business school programs. The Board of Directors shall fix the dues, as it deems appropriate. Annual dues include[s] complimentary meeting attendance.

Section 2. Maintenance of Membership

To retain membership in the Corporation, each new member elected after the date of the adoption of these By-laws must continue to meet the eligibility requirements contained in the first paragraph of Section One of these By-laws and all members of the Corporation, regardless of the date such persons first became members, must comply with such other criteria for membership, including, but not limited to, standards relating to professional activities and ethical conduct, and the payment of dues, as the Board of Directors may establish in order to retain their membership in the Corporation. The Board of Directors may vote to expel any member who fails to satisfy the requirements contained in Sections 1 and 2 of these By-laws or who shall violate any other criteria for membership as the Board of Directors may establish.

Section 3. Meetings

The Annual Meeting of members shall be held each year at the place, time and date by the end of June as may be fixed by the Board of Directors, or if not so fixed, as may be determined by the President of the Board. Special meetings of the members may be called by the Board of Directors or upon the request of ten members of the Corporation.

Section 4. Notice of Meetings

Notice of the place, date and hour of any meeting shall be given by e-mail or mail to each member entitled to vote at such meeting. Notice shall be given not less than ten days before the meeting, on a best efforts basis or as soon as practicable thereafter. Notice of a special meeting shall also state the purpose or purposes for which the meeting is called. Proxies shall be sent with each notice of a meeting where a vote will be taken on any matter entitling the member to authorize another person or persons to act for him or her.

Section 5. Quorum of Members

At all meetings of members, one hundred members entitled to cast votes or one-twentieth of the total number of votes entitled to be cast, whichever is lesser, shall be a quorum for the transaction of business. The members present at a meeting may adjourn the meeting despite the absence of a quorum.

Section 6. Voting

At any meeting of the members, each member present in person or by proxy shall be entitled to one vote.

Section 7. Record Date

For the purpose of determining the members entitled to vote at any meeting of members, or for the purpose of any other action by the members, the Board of Directors may fix, in advance, a date as the record date for any such determination of members. Such record date shall not be more than fifty nor less than ten days before the date of such meeting.

Section 8. Action by Members

Except as otherwise provided by law or by these By-laws, the vote of a majority of members entitled to vote, if a quorum is present at such time, shall be the act of the members.

Corporate Sustaining Members

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