Bylaws of Economic Development Association


ARTICLE I - NAME

This organization will be named the Economic Development Association.

ARTICLE II - PURPOSES AND OBJECTIVES

1. PURPOSES. The corporation is organized exclusively for scientific, or educational purposes within the meaning of Section 501 (c) (3) of the Internal Revenue Code of 1986, as amended, or the corresponding provision of any future Internal Revenue Code ("Internal Revenue Code") to promote and support, directly or indirectly, by donation, loan or otherwise, the interests and purposes of Economic Development Associatin, an Ohio not-for-profit corporation, which is qualified under Section 501 (c) (3) and Section 509 (a) (2) of the Internal Revenue code, and organizations which fall within the categories of Section 509 (a) (i) or Section 509 (a) (2) of the Internal Revenue Code. 2. OBJECTIVES. The objectives of the Association will be:

a. to encourage research in development economics and related disciplines and to promote professional communication among researchers in the field;

b. to facilitate cooperation and participation in research efforts among development economists and financial economists in the academic, private and government sectors;

c. to sponsor programs and publications, to conduct other activities appropriate for a nonprofit professional society, and to foster the advancement of members, and

d. to maintain close relations with professional organizations that share similar scholastic interests and concerns: the American Economic Association, American Agricultural Economic Association, International Economics and Finance Society, Southern Economic Association, Western Economic Association, the Midwest International Economics Group, the Southeast International Economics Group, the Financial Management Association, American Finance Society, Western Finance Association, and others.

3. These objectives may be furthered by professional means, including, but not limited to:

a. professional meetings and conferences,

b. information services,

c. a membership directory,

d. discounts on journal subscriptions, and

e. professional publications.

4. The term "professional" used herein does not imply an attempt at certification or determination of qualifying standards for the practice of development economics. The term is used to denote the concerns of members of a learned society.

ARTICLE III - MEMBERSHIP

1. Any professional economist or financial economist in academic, private, and government sectors, willing to pursue the objectives of the Association may apply for membership. Premier and regular members have the same rights, except the payment of dues. Graduate students in economics or related fields may apply for nonvoting junior membership.

2. Membership will be granted, subject to approval of the Executive Committee, upon submission of a written application and payment of the first year's dues, as determined by the Executive Committee.

3. Any institution sharing an interest in the objectives of the Association may apply for institutional membership upon payment of the first year's dues, as determined by the Executive Committee.

ARTICLE IV - MEETINGS OF MEMBERS

1. There will be an annual meeting of the members at a time and place determined by the Executive Committee (see Article VI). At the Annual Meeting there will be a business session for the report of the Executive Committee, consideration of changes in the Bylaws, and other items of business.

2. Special meetings of the members may be called at times and places determined by the Executive Committee, or by written request of at least 20 members.

3. All meetings will be called with at least thirty (30) days written notice.

4. Twenty-five percent (25%) of all Association members will constitute a quorum for business meeting of the members. Any decision or approval of the meeting requires a majority vote, except for amendments of the bylaws (see Article XVII). In the absence of quorum, recommendations of such a meeting will be circulated for approval by mail ballot with a provision of thirty (30) working days for response.

ARTICLE V - THE FOUNDING BOARD

1. Present members (i.e., members of the Association as of December 31, 1997) shall constitute the Founding Board. The Founding Board supervises the process of establishing the Association.

2. Until the Association is formally organized, the Founding Board will execute the functions of the Meeting of Members defined in Article IV above.

3. Rules for convening meetings of the Founding Board will be the same as for a meeting of the members of the Association.

ARTICLE VI: REGIONAL ASSOCIATIONS

1. Regional associations are those comprising membership from one geographical area. This geographical region may be a single nation, or it may be a collection of nations.

2. Regional associations will be formed when the membership from a particular region judges itself numerous and active enough to support an independent agenda of events and activities furthering the objectives of the EDA. Each regional association will have a president, a secretary, and a treasurer, chosen by vote of the membership of that regional association.

3. The regional association will have as responsibilities the induction of members in that region, communication with regional members, and organization of regional conferences, workshops, educational activities, and other activities that further the objectives of the IEFS.

4. Should the leadership of the regional association become passive, the members can petition the Secretariat to be treated as "at large" members. The Executive Secretary will then represent the primary communication link with these members. This status can be reversed by a majority vote of members of the regional association to reinstate the activities of the regional association.

ARTICLE VII - THE EXECUTIVE COMMITTEE

1. The President, Secretary General, and Treasurer constitute the Executive Committee, which will:

a. manage the affairs of the Association,

b. fill all vacancies in elected positions of the Executive Committee in case of death or resignation until a successor is elected by the members,

c. call and organize meetings,

d. invest and administer funds of the Association, and

e. establish and appoint required committees.

ARTICLE VIII - MEETINGS OF THE EXECUTIVE COMMITTEE

1. Meetings of the Executive Committee may be held at such times and places as necessary to carry out the business of the Association.

2. A majority of the Executive Committee will constitute a quorum.

3. Meetings of the Executive Committee may be called by the President, who chairs the meetings.

ARTICLE IX - DUTIES OF OFFICERS

1. The Secretariat of the EDA includes the supraregional officers of the Association. These officers include the President, the Secretary General, and the Treasurer.

2. The President will be the Chief Executive Officer of the Association, performing all duties required by the bylaws or the Executive Committee.

3. The President is responsible for the planning and development of program activities of the Association. Program activities include conferences, seminars, workshops, luncheons, and participation in the programs of professional associations. The President is also responsible for overall liaison with other professional organizations and is the primary communications link between the Association and its members.

4. The Secretary General shall conduct correspondence of the Association, prepare minutes of the Annual Meeting and meetings of the Executive Committee, and conduct the routine of elections and other communication with potential members, processing of applications for membership, updating of membership lists, and publication of the Membership Directory.

The Secretary will also be responsible for publications, chairing the Publications Committee, and generally directing the professional publication activities of the Association, including cooperating arrangements with professional journals as well as undertaking publication of abstracts, conference proceedings, and other material. Approval of publication activity rests with the Executive Committee.

5. The Treasurer shall manage the funds of the Association, keep dues records, collect dues and other monies and deposit the same in a bank, issue checks for disbursements, keep accounting records, and prepare reports of the financial condition of the Association.

ARTICLE X - ELECTION AND TENURE OF MEMBERS OF THE EXECUTIVE COMMITTEE

1. The officers of the Executive Committee (President, Secretary General, and Treasurer) will be elected by letter ballots of the members.

2. The President will appoint a nominating committee no less than one hundred twenty (120) days prior to the beginning of the term for which an election is to be held.

3. The Nominating Committee will prepare the official ballot containing names of candidates and any other persons nominated by three percent (3%) or more of the membership.

4. Official ballots will be mailed to all members at least thirty (30) days prior to the due date for return of ballots. Ballots must be returned by a date specified by the President and in a sealed envelope bearing the member's signature. Ballots will be counted by tellers appointed by the President and the results announced to the members.

5. The term of office for President, Secretary General, and Treasurer shall be four years, the first term beginning on January 1, 1998.

6. The first Executive Committee also serves for the remainder of 1997.

ARTICLE XI: FINANCIAL LINKS BETWEEN THE SECRETARIAT AND THE REGIONAL ASSOCIATIONS

1. The Association may assist regional associations upon request, but is not financially responsible for the debts incurred by regional associations.

2. Regional Associations may engage in additional fund raising activities, including regional membership dues, to promote regional activities.

ARTICLE XII - COMMITTEES

Standing and ad hoc committees shall be appointed by the President in consultation with other members of the Executive Committee.

ARTICLE XIII - FEES AND DUES

The categories of membership will be determined by the Executive Committee. Each member will pay annual dues as determined by the Executive Committee.

ARTICLE XIV - SEVERANCE OF MEMBERSHIP

1. A member in good standing may resign by submitting a written resignation to the President. A resigned member may resume membership upon payment of current dues.

2. A member whose conduct has been prejudicial to the good of the Association or inconsistent with its objectives and bylaws may be dropped from membership and any office by two thirds vote of the Executive Committee. The member must be notified at least twenty (20) days in advance of the meeting as to the charges, and must be given the opportunity to answer charges in person, in writing, or by an authorized representative.

ARTICLE XV - RULES OF ORDER

1. The rules contained in Robert's Rules of Order shall govern the parliamentary procedure of all meetings of the Association and its Committees in all cases to which they are applicable, provided they are not inconsistent with these bylaws.

2. In the event of any inconsistency of Robert's Rules of Order and these bylaws, the procedures specified in the bylaws will prevail.

ARTICLE XVI - INTERPRETATION OF BYLAWS

All questions of interpretation of the bylaws will be decided by the Executive Committee.

ARTICLE XVII - AMENDMENTS OF BYLAWS

1. The bylaws may be adopted, annulled, or amended by the affirmative vote of majority of the members voting by letter or at the Annual Meeting.

2. No such action will be taken at the Annual Meeting unless the change in the bylaws is proposed by the Executive Committee or by written request of at least twenty (20) members. Notice of the proposed change must be mailed by the President to each member at least thirty (30) days in advance of the Annual Meeting.

ARTICLE XVIII - FOUNDING OF THE ASSOCIATION

1. For the officers in 2002 and thereafter, the President, Secretary, and Treasurer will be elected at the same time.

2. The Founding Board will function as the Association as a whole and will undertake the role of the Executive Committee defined in Article VI. The Founding Board will be dissolved right after the Executive Committee is formed on January 1, 1998.

ARTICLE XIX - EFFECTIVENESS OF THE BYLAWS

These bylaws shall become effective immediately after it is adopted by at least two thirds of the Founding Board.