The Constitution of the Investment Club

Preamble
We the students of Cary Academy Upper School join together to establish this Club to better prepare ourselves for the economic life that lies ahead of each of us.  We pledge our sacred honor plus a $10.00 initiation fee to increasing the Club’s wealth and with that to increase the general welfare of the community at large.

Article I: Membership
The Club is open to all Upper School Students lawfully enrolled at Cary Academy. Membership will never be contingent upon meeting attendance; however, membership in the Executive Council will be contingent on satisfactory attendance.

Article II: Investing
Any recognized member of the Club may offer a proposal for an investment or liquidation there of.  It is anticipated that an explanation of support will accompany each proposal.  Execution of such proposals will be carried out by the Comptroller General (or Club Advisor) following the approval of a simple majority of members who cast ballots.  It is the responsibility of the Membership Chairman to inform the General Membership of all proposals and the time, place and manner of such vote.  Also, the club’s stock portfolio must be evaluated at the beginning of every year to ensure that there is adequate student knowledge and control over the future of the stocks.

Article III: Disbursements

The Executive Council will meet quarterly—or at the discretion of the president of the club—to evaluate the financial status of the portfolio.  The major portion of any capital gain should be reinvested.  When profit is large enough so that a significant portion can be reinvested without touching the principal, that money may be distributed to student run organizations at the discretion of the executive board and the consent of the Head of School.

Article IV: Attendance

The meetings will be conducted on a bi-weekly basis—although the Executive Council has the discretion to change that.  Because the members of the club have already shown their commitment through their donation, attendance for the general membership will not be required.  However, membership for the Executive Council must be satisfactory (and attendance to Executive Council meetings is mandatory), and the general membership must be present in order to cast a vote for any club decisions.  This does not exclude, however, the possibility of alternative means of voting.

Article V: President
To be approved by plurality vote of the general membership prior to commencement ceremonies at the end of each school year.  The President will hold office for a one-year term.  Duties will include overseeing and managing club functions in an efficient manor as well as representing the Club to outsiders (meaning those no cognizant of the meaning of life).  By promoting efficiency and striving for maximum return on everything the Club does, it is the responsibility of the President to maximize profit for the Club and encourage economic interest and understanding.

Article VI: Vice President
The runner-up in the presidential election shall assume the office of vice president.  The vice president will assume no formal leadership position, as he/she was not elected outright by the members of the club, but he/she shall be a member of the Executive Council and assume the rights and responsibilities that entails.

Article VII: Membership Chairman
To be approved by plurality vote of the general membership prior to commencement ceremonies at the end of each school year.  The MC will hold office for a one-year term.  Duties will include maintaining the membership roll, taking minutes during meetings, conducting votes and keeping the membership well informed of all club business past and pending.  The MC will publish and distribute (hard copy) an Annual Report each school year prior to commencement ceremonies.

Article VIII: Comptroller General
To be approved by plurality vote of the general membership prior to commencement ceremonies at the end of each school year.  The CG will hold office for a one-year term.  Duties will include supervision of dues collection, reception of contributions, opening and maintaining Club accounts, execution of purchases and sales and general portfolio management.  The CG may be bonded.  The CG will help the MC in the preparation of the Annual Report.

Article IX: Webmaster
To be approved by plurality vote of the general membership prior to commencement ceremonies at the end of each school year.  The Webmaster will hold office for a one-year term.  Duties will include the creation and maintenance of a Club web site.  This page will include a membership directory, current portfolio, economic items of interest, announcements of coming events and money matters that may benefit Club members.

Article X: Events Coordinator
To be approved by plurality vote of the general membership prior to commencement ceremonies at the end of each school year.  The EC will hold office for a one-year term.  Duties will include organizing and overseeing the running of two to three major programs per school year.  It is the responsibility of the EC to confirm the guest speakers, organize refreshments relative to the function and to assist the president in event management.  The EC will be the last word according to Roberts Rules of Order during all Club meetings.

Article XI: Grade Level Representatives

A grade level representative will be chosen from each grade level represented in Investment Club.  These students will be members of the Executive Council and will have a vote on the aforementioned council.  They will hold single year terms and be elected at the beginning of each year.

Article XII: Annual Slate of Officers
A slate of officers for the new year will be created by the Executive Council and offered to the general membership for their approval each spring prior to commencement ceremonies.  The general membership may make additional nominations for each Executive Board position prior to each annual election.  Students may be self-nominated or nominated by one of their peers.  New officers will be sworn-in at the Annual Meeting. 

Article XIII: Runoffs

In the event that there is a tie in any given election, or a difference of just a single vote when every member has not voted, the president has the authority to call for a runoff.  If the runoff too yields a tie, the president can either declare it a tie and allow for two winners, or cast the deciding vote himself.

Article XIV: Amendments

It is the right and responsibility of the Club to amend this charter at anytime in an attempt to maximize profit or minimize loss.  A simple majority of members present at a general membership meeting shall prevail.