Statement of by-law changes

  1. Membership in the Tara Circle, Inc. is limited to Charter Members holding subvention certificates and honorary membership as determined by the Board of Directors (“Board”) Other classes of membership may be authorized by the Board.
  2.  Voting is limited to Charter Member organizations holding subvention certificates as authorized.  
  3. A nominating committee shall put forth a slate of candidates for the board. A maximum of 15 people will be elected to the board.
  4. The balance of the principal currently invested with two independent investment advisory firms may only be used by a vote of the board of directors and with approval of the members.
  5. Nominations for Board membership shall require 15 days notice prior to the meeting selected for such purpose.
  6. Votes representing surrendered subvention certificate holders will be voted by the President as determined by a majority of the Board.
  7. The Board shall submit a slate of directors for election at the annual or special meeting. One third of the directors shall serve for one year, one third shall serve for two years and one third shall serve for three years.