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I. DEFINITIONS
A. HIC means Henderson Investment Club, formed as a General Partnership on _____________________ and more fully described in the Bylaws.
B. "Partner" or "member of the HIC" shall mean a General Partner of the Henderson Investment Club.
II. OFFICERS
A. The HIC officers shall consist of President, Vice-President, Secretary, Treasurer.
B. Duties of the Officers will include, but not be limited to, the following:
 | The PRESIDENT will appoint committees, oversee all HIC activities, and preside over all HIC meetings. The PRESIDENT will have the power to create and conduct an agenda for all meetings, and may enforce or waive formalities of such an agenda. The PRESIDENT will have the power to recommend disciplinary action to any Partner who, in the opinion of a member of the HIC, is considered to have acted contrary to the provisions of these By Laws or has displayed negligence in the performance of duties or expectations. The PRESIDENT will also have the power to BUY and SELL securities in absence of the TREASURER. |
| The VICE-PRESIDENT will assume the duties of the PRESIDENT when absent or unable to serve the office. The VICE-PRESIDENT will be responsible for the activities, progress, and reports of all committees that are formed. The VICE-PRESIDENT is also in charge of all educational activities. |
| The SECRETARY will keep a record of HIC business and issue a report of all meetings. The SECRETARY will be responsible for all correspondence pertaining to the HIC Investment Club, including the distribution of reports from meetings, officers and committees. Upon notification by the PRESIDENT or the TREASURER; the SECRETARY will issue a notice to any Partner regarding any fines or disciplinary action, and include the reason and decision for the action. The SECRETARY must keep hard copies of all HIC correspondence. |
| The TREASURER will keep record of all HIC financial activities; calculate and distribute valuation statements each month, and any other statistical reports required. The TREASURER will maintain records accounting for the HIC Investment Club financial operation; assets; individual account value. |
The TREASURER will serve as agent for the Partnership to place BUY and SELL orders; and will distribute and collect funds. The TREASURER will be responsible for all cash and broker transaction and the collection of dues.Officers will be elected by the total Partnership at the first meeting of the HIC and to one-year terms at duly called Annual meetings thereafter. Officers may succeed themselves in office upon re-election.
Annually, during the month of _________, the current President shall call for nominations from the HIC for all officer positions. The HIC shall then elect the above officers following the voting procedures described below. The officers shall assume their duties on _________(month, day) of that year.
E. Any officer position that becomes vacant during the year shall be filled as soon as possible following the same nomination and voting procedure described above.
F. Each office shall be held by a different person.
G. Each officer is encouraged to appoint an assistant.
III. Meetings
Regular meetings will be held quarterly as voted by the HIC. Meetings shall be held on the third Sunday of every month, at 1 PM at a location agreed upon by HIC.
A. Meeting notices shall be sent to each member at least one week in advance of the meeting, through email, postal service, or hand delivery. Meeting notices shall include an agenda.
B. Agenda items must be submitted to the President at least two (2) weeks prior to the scheduled meeting.
C. ________(specify month) is designated for the Annual meeting. At the Annual meeting all Partners will be issued the Annual Report and HIC elections will be conducted. The Secretary will give notice to the Partnership as to the time, date, and location of the Annual Meeting and issue a proxy for the election of Officers to the entire Partnership.
D. Special meetings may be called by the President or any two officers of the HIC upon verbal or written notice to the members of the HIC.
E. The presence or duly executed proxies of ______percent (___%) of the active members of the HIC including at least one Officer of the HIC will constitute a quorum sufficient to transact business.
IV. VOTING
A. The right to vote is limited to active Partners.
B. Buy and sell decisions will be decided by simple majority of partners. In order for a vote to be binding, more than 40% of the total club voting shares must have voted in favor of the issue.
Policy decisions follow the same rules but require an excess of 50% of the total club voting shares. Voting may be conducted by email. In order for email votes to be valid, said votes must be received by the president or his/her appointee at least twenty-four (24) hours in advance of the meeting. A hard copy of the email becomes part of the voting record. Voting may be done by duly executed proxy, providing the proxy is given to an active partner. No more than three proxies can be assigned to an active member at any one time. Active Partners will be entitled to submit two proxies per calendar year.
V. DIVIDENDS
The HIC shall participate in dividend reinvestment plans.
VI. CONTRIBUTIONS
Initial partner contribution for charter members shall be $50.00 payable upon adoption of bylaws and operating procedures.
A. Additional contributions may be made in $10 increments, to be remitted to the treasurer or his/her appointee only at scheduled meetings.
VII. EXPENSE REIMBURSEMENT
A. The President may authorize expenditures of less than $25. The total of such Presidential expenditures shall not exceed $125 in any calendar year.
B. Expenditures of $25 or more shall be authorized only by a HIC vote.
VIII. AMENDMENT OF THESE PROCEDURES
A. These Procedures may be amended by an HIC vote at any regularly scheduled meeting and shall be required to be reviewed in its entirety at the annual meeting.
B. These Procedures shall be construed in accordance with the Bylaws and, in any conflict, the Bylaws shall rule.