| PNIRS Bylaws |
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Page 9 of 11 ARTICLE IX - Financial Section 9.1. Fiscal Year. The official fiscal year shall be fixed by the Council. Section 9.2. Membership Dues. Annual dues are payable on November 1, preceding the beginning of the fiscal year. Dues for members and affiliate members will be established by the majority vote of the Council and changes may be made periodically as deemed necessary. Section 9.3. Financial Statement. All statements of net assets and related statements of income and expenditures and capital funds shall be reviewed annually by an independent Certified Public Accountant (CPA). A financial statement of the assets of The Society shall be presented at the Annual Business Meeting of The Society. Section 9.4. Signatory Power. All persons having signatory powers for the funds of The Society shall be designated by majority vote of the Council. Section 9.5. Divestiture. Upon the dissolution of this corporation/organization, assets shall be distributed for one or more exempt purposes within the meaning of 501 (c) of the Internal Revenue Code, or corresponding sections of any future Federal tax code, or shall be distributed to the Federal government, or to a state or local government, for a public purpose. |