THE CONSTITUTION.
INTRODUCTION
This is the CONSTITUTION of The _________ (Name of the Group) made to build a solid
ground for partnership and a relative system to enable growth for investment and joint
business.
OUR MISSION
To build a solid ground for the partnership and a relative system to enable growth and
prosperity and to deal mainly with pushing the business and partnership forward to success.
OUR VISION
To govern the affairs of its members for the purpose of joint investment, savings, and those of
a like nature for their mutual benefit and interest and shall be binding to all members of the
Group.
OUR VALUES
Trust
Respect
Willingness
Flexibility
Openness
Sincerity
Compromise
Understanding
OUR PRINCIPLES
No member shall be deprived of her equitable share
MEMBERS
Tal Bodenstein
Tamir Kremener
Mor Teig
Yochai Harrus
MEMBERSHIP RULES
a) Group membership shall be restricted to a maximum of ___ members.
b) One becomes a member of the Group by complying with the following:
Fill out a Membership Form
Pay up the amount of savings/premium that current members have
The new group member and the treasurer can work out a payment plan to see the
group member pay up the savings over a suitable period of time.
New members shall only be admitted after being proposed by a member of the Group
and seconded by two other existing members. There will be no objection from any
other member of the Group.
c) One ceases to be a member of the Group in the following circumstances;
Where a member depletes all their savings in the Group through fines;
Where one voluntarily resigns from the Group.
A member will be deemed to have properly resigned if;
Properly notifies (6 months’ notice) the group members
A member may only resign at the end of a financial year.
Fill out a Resignation Form upon notification to the Group
The amount payable to the resigning member shall be exclusive of the interest
paid during her membership period.
INVESTMENT
a) The total investment amount will be divided by the final amount of the initial investment
(initial investment – refers to cash that financed the establishment of the business).
b) Any amount that will come next from investors or any other sources will be examined
according to the total value of the business and according to the willingness of the
partners to grant options.
c) Generally, the partnership policy uses the business’ money for growth and dividend
distribution.
d)
SHARE REVENUE
The division of ownership and percentages will be according to the investment amount and
based on an agreement between the parties.
COMPANY CAPITAL
The Company will finance expenses directly related to the Company’s activities, and the
partners will do their best to use the Company’s capital with wisdom.
SALARY
If one of the partners works beyond the overall work of the partners, he will receive a fair
salary.
Once the business is starting to be profitable, the salary will examine again.
MEETINGS
The Group shall have four meetings conducted every quarter of the financial year.
a) The first meeting in the financial year shall be the AGM;
b) Every AGM must have an agenda that shall discuss;
number of shares held by each member and any withdrawals done by any member
The profit made out of loans, the profit made out of investments, losses caused out
of loans, and losses made out of investments.
Give a record of group expenditure.
List of group assets and estimated value
Report on Audits of accounts
Give a report of the audited accounts
Give recommendations on the accounts of the Group
c) The Group may appoint an auditor from time to time or maybe two non-official members
of the Group
d) Every annual general meeting shall not be more than 12 months after the preceding
annual general meeting.
e) The subsequent meetings shall be normal meetings convened for purposes of keeping up
with the activities of the Group
f) The date for the next meeting shall be agreed upon on every
g) forum
h) the Secretary of the Group shall notify the members of the upcoming meetings at least
two times prior to the meeting. The reminders shall contain information about the venue
of the meeting/host of the meeting, the time, and the Agenda.
i) The AGM is a MUST attend the meeting, failure to which might be a ground for
expulsion from the Group
j) 4 ( four) members of the Group form a quorum for a meeting
k) The officials of the Group may, from time to time, invite experts to address and guide
members of the Group on general management and investments.
l) In case of absenteeism in meetings, members will be required to give a one-week notice
to the Secretary.
m) Members are not allowed to miss more than two ordinary meetings
n) Non-attendance of two meetings will attract a fine of USD______ and a warning letter
LEADERSHIP
The Group shall have four positions the chairperson, the treasurer, the Secretary, and the
project managers.
a) The duties of the chairperson shall include;
i. Oversee the general leadership of the Group
ii. Facilitate Group meetings
iii. Offer guidance on matters arising in the Group
iv. Keep the Group members in check in any duties assigned
b) The duties of the treasurer shall entail;
v. Keep proper record of the Group books of accounts
vi. Prepare a detailed report of the Group accounts to present during Group
meetings.
vii. Liaise with the appointed Group auditor to prepare a Group audit report
viii. Disburse money for projects, loans, and welfare as and when is required
ix. Hold Group financial assets
x. Keep a record of all blacklisted persons barred from taking loans from the
Group.
c) The duties of the Secretary shall include;
i. Prepare minutes for every meeting held by the Group members
ii. Make prompt communication to Group members about any upcoming Group
activities
iii. Prepare Agenda for every meeting
iv. Keep proper record of every Group documents
v. Send warning letters, notices, and expulsion letters
d) The duties of the project manager shall entail;
i. Research on suitable projects/investments to be carried out by the Group.
ii. Prepare a project proposal on an intended project of the Group
iii. Keep proper records of all the Group projects
iv. Provide a detailed report of ongoing Group projects during Group meetings
v. Avail records of the projects to the Group members on request
e) The leadership shall be done on a rotational basis, and the term expires after every one
year and will not be subject to re-election in the next subsequent year to any position
f) The Group leaders/officials
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