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Financial Planning Association of Clarion University of PA
BYLAWS
Article I
Name and Location
Section 1.1 Name: The name of this organization will be the Financial Planning Association of
Clarion University of Pennsylvania Student Chapter.
Section 1.2 Principal Office: The initial principal office of the student chapter will be located at
Room 338 Still Hall, Clarion University of PA, Clarion, PA. This office may be changed and the
student chapter may also have offices at such other places that are within the State of PA as the
student chapter board of directors may determine from time to time.
Article II
Purposes
Section 2.1 Purposes: The purpose of the student chapter is to support FPA’s Primary Aim: FPA®
is the community that fosters the value of financial planning and advances the practice and
profession of financial planning. Other purposes of the student chapter are to give students the
opportunity to learn about financial planning, have exposure to financial planning professionals,
obtain internship and employment opportunities and develop leadership skills.
1
Section 2.2 Prohibition Against Private Inurement: No part of the net earnings of the student
chapter will inure to the benefit of, or be distributable to, its members, directors, committee
members or other private persons. However, the student chapter will reimburse, under
guidelines published by Clarion University of Pa, expenses that are incurred by directors in the
performance of their duties.
Section 2.3 Student Chapter / National Relationship: The student chapter will be affiliated with
the Financial Planning Association (“FPA”) and will operate in accordance with the policies
developed and published by FPA’s Board of Directors. The Bylaws of the student chapter will
be consistent with the Bylaws of FPA. The student chapter’s Bylaws may not be amended
without prior written approval of FPA.
Article III
Membership
Section 3.1 Members: student chapter members must be students at Clarion University of Pa.
In order to be a member of the student chapter, an individual must have their application
accepted by the FPA National organization and pay any possible dues regarding membership.
Section 3.2 Voting Rights: Each member in good standing will be entitled to one vote on each
matter required to be submitted to a vote of the members by law or these Bylaws.
Section 3.3 Suspension or Termination of Membership in the Student Chapter:
Any member in violation of Clarion University academic or criminal procedures may be
terminated or suspended from FPA. Suspension or Termination will be decided by faculty
advisor. Membership in the student chapter will automatically be suspended or terminated
upon suspension or termination of membership in FPA.
2
Section 3.4 Resignation: Any member may resign from the student chapter at any time by
giving written notice to the President. Such resignation will take effect at the time specified
thereon, or if no such time is stated, at the time of receipt by the student chapter. Such
resignation will not relieve the member of the obligation to pay any fees or charges which have
accrued and remain unpaid to the student chapter.
Section 3.5 Dues: Membership dues will be established from time to time by FPA. Dues paid to
the national office of FPA constitute membership in FPA, a local FPA Chapter and the student
chapter. Additional fees may be assessed by the student chapter to conduct meetings and
events and for general operational purposes in accordance with the FPA Chapter Policy and
Procedure Manual.
Section 3.6 Transfer of Chapter Membership: Membership in FPA is not transferable or
assignable; provided, however, that a member may transfer his or her membership to another
recognized local FPA Chapter or student chapter.
Article IV
Duties and Elections of the Officers
Section 4.1 General Powers, Number and Tenure: The governing body of the student chapter
shall be the board of Directors. The student chapter board of directors will manage, supervise,
control and direct the affairs of the Student Chapter; will actively pursue the objectives of the
student chapter; and will supervise the receipt and the disbursement of funds. Each director
will be an active member of FPA and of the student chapter in good standing. The student
chapter board of directors may delegate areas of its authority as it deems appropriate.
Section 4.2 Designations: The directors of the student chapter will be: President, PresidentElect, Secretary, Treasurer, and such other directors and agents that the board of directors shall
deem necessary or appropriate. All directors of the student chapter will exercise the powers
and perform the duties as determined by the student chapter board of directors. Any number
3
of offices may be held by the same person, unless state law, or these Bylaws provide otherwise.
A student chapter will not be required to have any officers other than a President, PresidentElect, Secretary and Treasurer.
Section 4.3 Election of Student Chapter Board of Directors: The student chapter board of
directors shall be elected at the first meeting of the membership year, and each Director
elected shall hold office for a period of one (1) school year beginning at the start of the school
year, or until a successor is elected and qualified.
Section 4.4 Voting: Each member will be entitled to one vote and the voting rights of a
Director will not be delegated to another person or exercised in absentia. Directors are only
elected if they receive a majority vote.
Section 4.5 President: The President will be the chief executive director of the student chapter
and, subject to the direction of the student chapter board of directors, will have general
responsibility for the affairs and property of the student chapter and general supervision over
its other directors and agents. The President will perform all duties incident to the office of
President and will see that all orders and resolutions of the student chapter board of directors
are implemented.
Section 4.6 President-Elect: The President-Elect will, in the absence of the President or in the
event of the President’s disability, removal or resignation, perform the duties and exercise the
powers of the President and will generally assist the President and perform such other duties
and have such other powers as may from time to time be prescribed by the student chapter
board of directors.
Section 4.7
Secretary: The Secretary will attend all meetings of the student chapter board of
directors and the membership and will record all votes and the proceedings of the meetings.
The Secretary will perform like duties for the Executive Committee or other committees; will
give, or cause to be given, notice of all meetings of members and special meetings of the
4
student chapter board of directors; and will perform such other duties as may from time to
time be prescribed by the student chapter board of directors or the President.
Section 4.8 Treasurer: The Treasurer will account for student chapter funds. Custody of
Student Chapter funds will be maintained by Clarion University of Pa. Receipt and prompt
deposit of student chapter funds will be the responsibility of the Treasurer, under the direction
of the faculty advisor and with the assistance of the Dean of the College of Business
Administration and Information Sciences at Clarion University of Pa. The disbursement of all
funds must be approved by the faculty advisor. The Treasurer will regularly provide to the
student chapter board of directors and the faculty advisor an accounting of all transactions and
the financial condition of the student chapter.
Section 4.9 Removal or Resignation:
A. Removal: Any Director(s) may be removed from office, with cause, by a majority vote of
the other Directors.
B. Resignation: A Director may resign at any time by giving written notice to the Student
Chapter President or faculty advisor. Unless otherwise specified in such written notice,
a resignation will take effect upon delivery to the student chapter board of directors. It
is not necessary for a resignation to be accepted before it becomes effective.
Article V
Role of Campus Advisor
Section 5.1 Election: The advisor will be selected by the student chapter board of directors with
a majority vote.
5
Section 5.2 Role: Attend meetings of the club, take an active role in assisting the club
participants in their organization and planning of events, and refining their program to a point
where they are effective and realistic. Advisors should know the general purposes of the
organization and be familiar with all provisions outlined in the organizations constitution and
bylaws. The advisor has power to veto all actions passed by student chapter board of directors,
if in the best interest of the organization and its members.
Article VI
Meetings
Section 6.1 Professional Meetings: Student chapter meetings will be at least monthly during
the regular school year.
Section 6.2 Special Meetings: Special meetings of the membership may be called for any
purpose(s) by the President or faculty advisor, and do not require a vote. Special meetings must
be given a prior notice of 24 hours and members will be notified through written notice.
Section 6.3 Presiding Officer: Meetings of the members will be presided over by the President.
If the President is not present, the meetings will be presided over in the following order:
President-Elect; person chosen by the student chapter board of directors; or faculty advisor.
Section 6.4 Order of Business: The meetings and proceedings of the student chapter will be
conducted in accordance with the Rules of Order adopted by the board of directors, unless
otherwise provided in these Bylaws.
Section 6.5 Manner of Acting: Except as otherwise provided by law, all matters will be
determined by a vote of a majority of the members present in person.
6
Section 6.6 Quorum Statement: There must be a minimum of five members of the organization
that must be present to make the proceedings of the meeting valid.
Article VII
Finances and Funding
Section 7.1 Fiscal Year: The student chapter fiscal year will be the calendar year.
Section 7.2 Budget: The board will establish a budget no later than the beginning of each fiscal
year.
Section 7.3 Review: The finances of the student chapter will be reviewed on a regular basis by
the faculty advisor.
Section 7.4 Execution of Instruments: The student chapter board of directors will not be
allowed to enter into any contract, nor to execute and deliver any instrument in the name of
and on behalf of the student chapter. Any such activities must be performed by the faculty
advisor.
Section 7.5 Checks and Notes: All disbursements must be made through the established
procedures and systems of Clarion University of Pa. The student chapter will not be allowed to
issue promissory notes.
Section 7.6 Funds: The organization will be self-supporting by fund-raising activities.
7
All fund-raising activities will need a majority vote from student chapter board of directors and
be accepted by Campus Advisor. If additional funds are required for the organization, a request
will be sent to the Student Senate.
Section 7.7 Nonliability of Directors: The directors will not be personally liable for the debts,
liabilities, or other obligations of the student chapter.
Section 7.8 Dissolution: In the event of termination or dissolution of the student chapter, the
Student Chapter will dissolve and distribute all assets in accordance with the rules and
regulations set forth by Clarion University of Pa.
Article VIII
Amending, Suspending, and Accepting
Section 8.1 Bylaws: These Bylaws may be amended by a two-thirds (2/3rds) vote of the
Directors present at any regular or special meeting of the student chapter board of directors
duly called and regularly held; provided, however, that no such amendments will be effective
until they are approved by FPA. All changes to the Bylaws must be approved by the Student
Senate, the Vice President of Student Affairs, and the President of Clarion University.
Article IX
Ratification
Section 9.1 Ratification: These Bylaws, and their amendments, shall become effective upon
ratification by the members of Financial Planning Association of Clarion University of
Pennsylvania Student Chapter and following the approval of the Student Senate of Clarion
8
University of Pennsylvania, the vice president for students & university affairs, and the
president of Clarion University.
9
BYLAWS
Article I
Name and Location
Section 1.1 Name: The name of this organization will be the Financial Planning Association of
Clarion University of Pennsylvania Student Chapter.
Section 1.2 Principal Office: The initial principal office of the student chapter will be located at
Room 338 Still Hall, Clarion University of PA, Clarion, PA. This office may be changed and the
student chapter may also have offices at such other places that are within the State of PA as the
student chapter board of directors may determine from time to time.
Article II
Purposes
Section 2.1 Purposes: The purpose of the student chapter is to support FPA’s Primary Aim: FPA®
is the community that fosters the value of financial planning and advances the practice and
profession of financial planning. Other purposes of the student chapter are to give students the
opportunity to learn about financial planning, have exposure to financial planning professionals,
obtain internship and employment opportunities and develop leadership skills.
1
Section 2.2 Prohibition Against Private Inurement: No part of the net earnings of the student
chapter will inure to the benefit of, or be distributable to, its members, directors, committee
members or other private persons. However, the student chapter will reimburse, under
guidelines published by Clarion University of Pa, expenses that are incurred by directors in the
performance of their duties.
Section 2.3 Student Chapter / National Relationship: The student chapter will be affiliated with
the Financial Planning Association (“FPA”) and will operate in accordance with the policies
developed and published by FPA’s Board of Directors. The Bylaws of the student chapter will
be consistent with the Bylaws of FPA. The student chapter’s Bylaws may not be amended
without prior written approval of FPA.
Article III
Membership
Section 3.1 Members: student chapter members must be students at Clarion University of Pa.
In order to be a member of the student chapter, an individual must have their application
accepted by the FPA National organization and pay any possible dues regarding membership.
Section 3.2 Voting Rights: Each member in good standing will be entitled to one vote on each
matter required to be submitted to a vote of the members by law or these Bylaws.
Section 3.3 Suspension or Termination of Membership in the Student Chapter:
Any member in violation of Clarion University academic or criminal procedures may be
terminated or suspended from FPA. Suspension or Termination will be decided by faculty
advisor. Membership in the student chapter will automatically be suspended or terminated
upon suspension or termination of membership in FPA.
2
Section 3.4 Resignation: Any member may resign from the student chapter at any time by
giving written notice to the President. Such resignation will take effect at the time specified
thereon, or if no such time is stated, at the time of receipt by the student chapter. Such
resignation will not relieve the member of the obligation to pay any fees or charges which have
accrued and remain unpaid to the student chapter.
Section 3.5 Dues: Membership dues will be established from time to time by FPA. Dues paid to
the national office of FPA constitute membership in FPA, a local FPA Chapter and the student
chapter. Additional fees may be assessed by the student chapter to conduct meetings and
events and for general operational purposes in accordance with the FPA Chapter Policy and
Procedure Manual.
Section 3.6 Transfer of Chapter Membership: Membership in FPA is not transferable or
assignable; provided, however, that a member may transfer his or her membership to another
recognized local FPA Chapter or student chapter.
Article IV
Duties and Elections of the Officers
Section 4.1 General Powers, Number and Tenure: The governing body of the student chapter
shall be the board of Directors. The student chapter board of directors will manage, supervise,
control and direct the affairs of the Student Chapter; will actively pursue the objectives of the
student chapter; and will supervise the receipt and the disbursement of funds. Each director
will be an active member of FPA and of the student chapter in good standing. The student
chapter board of directors may delegate areas of its authority as it deems appropriate.
Section 4.2 Designations: The directors of the student chapter will be: President, PresidentElect, Secretary, Treasurer, and such other directors and agents that the board of directors shall
deem necessary or appropriate. All directors of the student chapter will exercise the powers
and perform the duties as determined by the student chapter board of directors. Any number
3
of offices may be held by the same person, unless state law, or these Bylaws provide otherwise.
A student chapter will not be required to have any officers other than a President, PresidentElect, Secretary and Treasurer.
Section 4.3 Election of Student Chapter Board of Directors: The student chapter board of
directors shall be elected at the first meeting of the membership year, and each Director
elected shall hold office for a period of one (1) school year beginning at the start of the school
year, or until a successor is elected and qualified.
Section 4.4 Voting: Each member will be entitled to one vote and the voting rights of a
Director will not be delegated to another person or exercised in absentia. Directors are only
elected if they receive a majority vote.
Section 4.5 President: The President will be the chief executive director of the student chapter
and, subject to the direction of the student chapter board of directors, will have general
responsibility for the affairs and property of the student chapter and general supervision over
its other directors and agents. The President will perform all duties incident to the office of
President and will see that all orders and resolutions of the student chapter board of directors
are implemented.
Section 4.6 President-Elect: The President-Elect will, in the absence of the President or in the
event of the President’s disability, removal or resignation, perform the duties and exercise the
powers of the President and will generally assist the President and perform such other duties
and have such other powers as may from time to time be prescribed by the student chapter
board of directors.
Section 4.7
Secretary: The Secretary will attend all meetings of the student chapter board of
directors and the membership and will record all votes and the proceedings of the meetings.
The Secretary will perform like duties for the Executive Committee or other committees; will
give, or cause to be given, notice of all meetings of members and special meetings of the
4
student chapter board of directors; and will perform such other duties as may from time to
time be prescribed by the student chapter board of directors or the President.
Section 4.8 Treasurer: The Treasurer will account for student chapter funds. Custody of
Student Chapter funds will be maintained by Clarion University of Pa. Receipt and prompt
deposit of student chapter funds will be the responsibility of the Treasurer, under the direction
of the faculty advisor and with the assistance of the Dean of the College of Business
Administration and Information Sciences at Clarion University of Pa. The disbursement of all
funds must be approved by the faculty advisor. The Treasurer will regularly provide to the
student chapter board of directors and the faculty advisor an accounting of all transactions and
the financial condition of the student chapter.
Section 4.9 Removal or Resignation:
A. Removal: Any Director(s) may be removed from office, with cause, by a majority vote of
the other Directors.
B. Resignation: A Director may resign at any time by giving written notice to the Student
Chapter President or faculty advisor. Unless otherwise specified in such written notice,
a resignation will take effect upon delivery to the student chapter board of directors. It
is not necessary for a resignation to be accepted before it becomes effective.
Article V
Role of Campus Advisor
Section 5.1 Election: The advisor will be selected by the student chapter board of directors with
a majority vote.
5
Section 5.2 Role: Attend meetings of the club, take an active role in assisting the club
participants in their organization and planning of events, and refining their program to a point
where they are effective and realistic. Advisors should know the general purposes of the
organization and be familiar with all provisions outlined in the organizations constitution and
bylaws. The advisor has power to veto all actions passed by student chapter board of directors,
if in the best interest of the organization and its members.
Article VI
Meetings
Section 6.1 Professional Meetings: Student chapter meetings will be at least monthly during
the regular school year.
Section 6.2 Special Meetings: Special meetings of the membership may be called for any
purpose(s) by the President or faculty advisor, and do not require a vote. Special meetings must
be given a prior notice of 24 hours and members will be notified through written notice.
Section 6.3 Presiding Officer: Meetings of the members will be presided over by the President.
If the President is not present, the meetings will be presided over in the following order:
President-Elect; person chosen by the student chapter board of directors; or faculty advisor.
Section 6.4 Order of Business: The meetings and proceedings of the student chapter will be
conducted in accordance with the Rules of Order adopted by the board of directors, unless
otherwise provided in these Bylaws.
Section 6.5 Manner of Acting: Except as otherwise provided by law, all matters will be
determined by a vote of a majority of the members present in person.
6
Section 6.6 Quorum Statement: There must be a minimum of five members of the organization
that must be present to make the proceedings of the meeting valid.
Article VII
Finances and Funding
Section 7.1 Fiscal Year: The student chapter fiscal year will be the calendar year.
Section 7.2 Budget: The board will establish a budget no later than the beginning of each fiscal
year.
Section 7.3 Review: The finances of the student chapter will be reviewed on a regular basis by
the faculty advisor.
Section 7.4 Execution of Instruments: The student chapter board of directors will not be
allowed to enter into any contract, nor to execute and deliver any instrument in the name of
and on behalf of the student chapter. Any such activities must be performed by the faculty
advisor.
Section 7.5 Checks and Notes: All disbursements must be made through the established
procedures and systems of Clarion University of Pa. The student chapter will not be allowed to
issue promissory notes.
Section 7.6 Funds: The organization will be self-supporting by fund-raising activities.
7
All fund-raising activities will need a majority vote from student chapter board of directors and
be accepted by Campus Advisor. If additional funds are required for the organization, a request
will be sent to the Student Senate.
Section 7.7 Nonliability of Directors: The directors will not be personally liable for the debts,
liabilities, or other obligations of the student chapter.
Section 7.8 Dissolution: In the event of termination or dissolution of the student chapter, the
Student Chapter will dissolve and distribute all assets in accordance with the rules and
regulations set forth by Clarion University of Pa.
Article VIII
Amending, Suspending, and Accepting
Section 8.1 Bylaws: These Bylaws may be amended by a two-thirds (2/3rds) vote of the
Directors present at any regular or special meeting of the student chapter board of directors
duly called and regularly held; provided, however, that no such amendments will be effective
until they are approved by FPA. All changes to the Bylaws must be approved by the Student
Senate, the Vice President of Student Affairs, and the President of Clarion University.
Article IX
Ratification
Section 9.1 Ratification: These Bylaws, and their amendments, shall become effective upon
ratification by the members of Financial Planning Association of Clarion University of
Pennsylvania Student Chapter and following the approval of the Student Senate of Clarion
8
University of Pennsylvania, the vice president for students & university affairs, and the
president of Clarion University.
9