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CHAPTER 7 \\ FINANCE AND ACCOUNTING

Article 33. The Board of Directors has duty and responsibility to make available:

33.1 Accounts showing the amount of money received and expended by the Society and the reason for receiving and expending money by item.

33.2 Accounts showing assets and liabilities of the Society.

Article 34. The Treasurer of the Society has duty to receive and pay money and to prepare and maintain accounts with vouchers and documents evidencing receipt and payment of money. The President of the Society or assigned persons and the Treasurer of the Society shall jointly sign checks for payment of Society's obligations. For all funds received, the Treasurer or assigned persons shall issue receipts of the Society as evidence. Each payment of the Society shall be accompanied by a voucher indicating entries and amounts and it must be approved by the President of the Society or assigned persons.

Article 35. Purchasing or disposing of the Society's assets shall be subject to the Board of Directors' resolution.

Article 36. The last date of fiscal year of the Society is 31 December.

Article 37. The General Meeting shall elect an auditor of the Society and also fix his/her remuneration. In case the office of auditor is vacated during the year, the Board of Directors shall convene an extraordinary meeting in order to elect a new auditor.

 

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