Constitution of the Montgomery County Coin Club

ARTICLE I  Name and Object

Section 1 – This organization shall be known as the MONTGOMERY COUNTY COIN CLUB (“the club”).

Section 2 – Its object shall be to encourage and promote the science of numismatics by the acquisition and study of coins, paper money, tokens and medals; to cultivate fraternal relations among collectors and to foster the interests of youth in the subject; to stimulate and advance affiliations between collectors and kindred organizations; to acquire and disperse numismatic knowledge; and to demonstrate that numismatics is an educational, serious yet entertaining pursuit;

Section 3 – The Club is organized exclusively for charitable, scientific and educational purposes within the meaning of § 501(c)(3) of the Internal Revenue Code, as may be amended.

ARTICLE II  Powers

Section 1 – The Club shall have the power to have and use a common seal and to alter and change the same at its pleasure, and to take or receive for the purpose of the Club any gift, grant, or bequest, and dispose of same upon majority vote of the Active and Honorary members present and voting at any regular meeting, provided due notice of such proposed action shall have been given the entire membership in the previous month’s bulletin.

Section 2 – The Club may engage in any lawful activities, which are in furtherance of the purposes of the Club.

ARTICLE III  Membership

Section 1 – The membership of this Club shall be divided into three classes: Honorary; Active and Junior.

Section 2 – Junior members are those up to 18 years of age and whose parent or legal guardian shall have signed the application for membership Junior members shall not have the right to vote or hold elective office.

Section 3 – Honorary members are those who are considered deserving of the distinctive title “Honorary” and have rendered the Club, or numismatics, some special service. An Honorary member shall be nominated only by a majority vote of the Active membership present at any regular meeting and shall be elected at the next regular meeting thereafter, provided a majority vote is cast a second time for the nominee. Honorary members shall be entitled to all privileges of the C1ub and shall be exempt from payment of dues.

Section 4 – Active members are all other members whose membership application has been accepted, whose dues are not in arrears and who have not been suspended or expelled.

Section 5 – Suspension and expulsion: The Code of Ethics is an integral part of this Constitution and the Club’s By-Laws, and have the same force as this Constitution and the Club’s By-Laws. The Code of Ethics shall govern all matters concerning suspension and expulsion of members

ARTICLE IV  Officers

Section 1 – The elective officers of the Club shall be the President, Vice President, Secretary, Treasurer and from two to four Directors. The office of the Secretary and Treasurer may be held by one person. Honorary and Active members are eligible to serve as elective officers.

Section 2 – The term of office shall be one year. Elective officers shall take office at the regular January meeting. The officers shall continue in office until their successors are elected and installed. No member shall serve more than two consecutive terms as President

Section 3 – The President shall preside at all meetings, and shall direct the Club’s business. The President shall chair the Executive Board.

Section 4 – The Vice President shall preside in the absence of the President and act in the President’s stead.

Section 5 –– The Secretary shall keep a correct record of all meetings of the Executive Board, shall have charge of the minute books, and shall make such reports and perform such other duties as are incident to his or her office or are properly required of him or her by the Executive Board which include notification to members of all non-regular meetings. The Secretary shall preside in the absence of the President and Vice President and act in the President’s stead.

Section 6 – The Treasurer shall collect and hold all money of the Club, as well as any securities in which the permanent funds of the Club may be invested, and shall take full charge of the same. The Treasurer shall keep a correct record of all financial transactions, furnishing a report of same at the end of each year, or more frequently as directed by the President or Executive Board. The Treasurer may open and maintain accounts in depository institutions insured by the Federal Deposit Insurance Corporation in the name of the Club. Checks may be signed by either the Treasurer or the Secretary or such other officers as the Executive Board may authorize.

ARTICLE V  Executive Board

Section 1 – The Executive Board shall super¬vise the affairs of the Club, and all matters of business or entertainment shall be presented to the Club by said Board.

Section 2 – The Executive Board shall be composed of the elective officers and the immediate past president. The Executive Board shall be the governing body of the Club. Five members of the Board shall constitute a quorum. The President may call meetings of the Executive Board and the Secretary shall notify the members of the Executive Board.

Section 3 – All delegates and alternates to national, regional, or local organizations shall be appointed by the Executive Board.

Section 4 – The Executive Board may authorize other officers as it determines are necessary for the benefit of the Club. When authorizing such officers, the Executive Board may appoint members to such positions, or may delegate such authority to the President.

ARTICLE VI  Revenue and Earnings

Section 1 – The revenue of the Club shall be derived from the dues of its members, commission on auction sales, sales of items purchased by the Club for that purpose, interest or dividends on investments or deposits, or any other source approved by the Executive Board.

Section 2 – No part of the net earnings of the Club shall inure to the benefit of, or be distributed to its members, directors, officers or other private interests.

ARTICLE VII  Amendments

Section 1 – Upon its formal approval by majority vote at a regular meeting of the Club, this Constitution and these By-Laws become effective immediately.

Section 2 – This Constitution may be amended by a two-thirds vote of the Active and Honorary members present and voting at two consecutive regular meetings of the Club after prior announcement of proposed revision in the Club bulletin, provided that there is a quorum present. A quorum shall consist of twenty percent of the Active and Honorary members, including two officers.

ARTICLE VIII  Club Meetings

Section 1 – The regular meetings of this Club shall be held on the second Tuesday of each month, unless changed by a majority vote of the members present at any previous meeting. Under exigent circumstances, the President may reschedule a meeting without a vote of the members.

Section 2 – Special meetings may be called at any time by the President, Secretary, or Executive Board for social or other purposes, as deemed necessary or advisable.

Section 3 – A quorum shall be necessary for the transaction at all business requiring a vote including the election of officers.

ARTICLE IX  Dues

Section 1 – The dues of the Club shall be eight dollars ($8.00) a year for Active members, and two dollars ($2.00) for Junior members, payable in advance to the Treasurer. The dues may be changed by a majority vote of the Executive Board and a subsequent majority vote of Honorary and Active Members present at a meeting of the club, provided that notice of the proposed dues change and forthcoming vote had been published in the Club bulletin prior to the meeting.

Section 2 – Because of the service to the Club rendered in performance of their duties, neither the Secretary nor the Treasurer shall pay dues.

Section 3 – A member whose dues for the year remain unpaid by March 1 shall be liable to suspension. A member whose dues remain unpaid after April 1st may not vote on any Club business and may have their membership revoked. A member whose membership is revoked for non-payment of dues may be reinstated within a period of two years upon payment of all arrears, provided no charges are pending against them. After two years, application for membership must be made in the usual manner.

ARTICLE X  Application for Membership

Section 1 – Application for Active and Junior membership shall be made to the Secretary in a form prescribed by that officer.

Section 2 – The Secretary shall publish the name of the new applicant in the next month’s issue of the Club’s publication. If there is no objection, the application shall be deemed accepted. In case of objection, the Executive Board may conduct an investigation into the qualifications and fitness of the applicant for membership.

ARTICLE XI  Election of Officers

Section 1 – The Club shall elect the President, Vice President, Treasurer, Secretary and directors at the regular December meeting.

Section 2 – A Nomination Committee of three members shall be appointed by the President at or before the October meeting to nominate a slate of candidates for each office, said slate to be voted on at the December meeting. Any member may nominate at the December meeting one or more candidates for office from the floor, provided the candidate has agreed in advance to serve if elected.

Section 3 – If there is more than one candidate for any office, the President shall appoint a board of two or more election tellers, who are not candidates or current officers, who shall prepare ballots and hand same to voting members present; all Active and Honorary members shall write on said ballots the names of the officers for whom they wish to vote. The tellers shall count the votes and announce the results. The member receiving the largest number of votes for any office shall be declared elected.

ARTICLE XII  General Laws and Regulations

Section 1 – No officer, committee or member shall incur any expense in the name of the Club unless the same has been previously authorized by the Executive Board, except that the President, Secretary, and Treasurer may incur any necessary expenses in carrying out the duties of their office without the prior consent of the Executive Board.

Section 2 – All officers at the expiration of their terms of office shall deliver to their successors all books, papers, money or other property of the Club in their possession, and shall not be relieved of their obligation until they have complied with this requirement.

Section 3 – In the case of a vacancy in any office except that of the President, the Executive Board shall elect a member to serve for the reminder of the term. If the President vacates their office for any reason, the Vice President shall succeed to the office of President and the Executive Board shall appoint a member to serve the remainder of the term of the Vice President.

Section 4 – No member shall be permitted to resign from the Club while still indebted to it in any manner, nor while there are charges pending against that member.

Section 5 – The use of the Club seal shall be restricted to the official stationery, and any Club printing of an official nature. Consent of the Executive Board must be obtained for use for any other purpose.

Section 6 – The President may appoint an Audit Committee and direct that a report be made before the members present at the April meeting.

ARTICLE XIII  Dissolution

Should it become necessary to dissolve the Club, upon dissolution and upon payment or adequate discharge of all liabilities and obligations, the assets of the Club shall be distributed for one or more exempt purposes within the meaning of § 501(c)(3) of the Internal Revenue Code, as amended, or shall be distributed to a State or the Federal government for a public purpose.

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