BY – LAWS
LAKE LORAMIE IMPROVEMENT ASSOCIATION, INC.
We, the members of Lake Loramie Improvement Association, Inc., so organize as the official body of the Lake Loramie Improvement Association, Inc. to promote and establish our philosophy to contribute our resources and efforts to the progress and success of Lake Loramie. Organized August, 1938; Incorporated in 1949.
Article 1 Name
The official name of this organization shall be the Lake Loramie Improvement Association, Inc.
Article 2 Purpose
Members are organized to operate and manage the Lake Loramie Improvement Association, Inc.
Article 3 Officers
The officers of the Association shall consist of a President, Vice President, Sgt. at Arms, and a Secretary and/or Treasurer. Their term of office shall be for one (1) year and three (3) Trustees, one of which shall be elected each year for a term of three (3) years. In the absence of the President and Vice-President, one of the Trustees shall act as the presiding officer. If any officer misses three (3) meetings in a row without a reasonable excuse, he or she shall be automatically removed from that office. The President and Secretary and/or Treasurer shall be given a gratuity at a rate set by the trustees with a membership vote.
Article 4 Membership
Membership may be obtained by paying a stated annual due, said membership to run from February 1 to January 31 of the following year.
Article 5 Meetings
Notification of the meeting dates is printed on the back of the membership card for the current year. No person or persons shall have a voice or vote at any meetings unless he or she is a bona fide member of the Lake Loramie Improvement Association, Inc., and in attendance.
Meetings shall be held on the third (3) Tuesday of each month for the months of February through October, except September when the meeting will be on the second Tuesday.
Special meetings may only be called to the attention of the membership by the approval of the majority of the officers and trustees when warranted by items that might be of importance to the organization. Membership will be notified by phone or mail.
Meetings shall be conducted according to adopted rules and parliamentary procedure and shall consist of the roll call of officers by the Sgt-at-Arms or Secretary, Secretary-Treasurer reports, committee reports, old business and new business.
In the month of August, a committee shall be appointed for the selection of the candidates to be presented to the membership at the September meeting for the annual election to be held in October.
At least 2/3 of elected officers and trustees must be present and at least six none-elected members must be present at a meeting to constitute a quorum for official business.
All funds of this organization shall be deposited in and maintained in a licensed banking institution approved by the Trustees.
Article 6 Dissolution
Upon the dissolution of this organization, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue Code, or corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose.
LLIA elected Officers and Trustees have the authorization to approve all regular recurring expenses (i.e. Chamber of Commerce memberships, Ducks Unlimited and Liberty Days sponsorships, etc.). All new projects over $1,000.00 will still need a quorum vote of the members. If after two general meetings the quorum is still not met, the Officers and Trustees will meet and vote on the project. At least 2/3 of elected officers and trustees must be present.
Section 1 Duties of officers under Article 3
Duties shall be those of chief executive officer and to act as the administrator of all official business. The President may, as he sees fit, stop any discussion that becomes out of hand, even if he must adjourn the meeting. Only one member may have the floor at any one time and then only with the permission of the President.
Shall act in the event of any incapacity or absence of the President, and conduct the meeting according to the rules. He shall have during his tenure the custody of and be in charge of all items purchased by the Association.
Shall be in charge of preparing necessary notices to newspapers, webmaster, newsletter and taking and preparing the minutes.
Shall be in charge of all official documents, prepare documents as necessary and shall have custody of the funds of the organization and shall render an up to date financial report at each meeting of the organization. He or she shall also be accountable for all receipts and expenditures of the organization.
Shall confirm the roll call of officers. He shall also maintain order at all membership meetings.
Expenditures of Funds
The Treasurer of the organization shall make all expenditures as approved by members by check. All additional expenditures shall be approved by the Trustees.
b. Financial Audit
The Treasurer shall make an Annual Statement of income, expenses and fund balance to the Association and such reports may be requested from time to time.
Trustees shall audit all books following the election each year and prior to the taking of office of the newly elected officers and turn over to the new Vice-President all items which belong to the organization. They shall take inventory each year.
Said By-Laws may be amended after three (3) readings at three (3) consecutive monthly meetings by a majority vote of the members present.