MWD Bylaws

MWD Investments Bylaws

Founded in June 2005, Monkeys with Darts Investment Club is an association seeking capital gains through consolidated investment opportunites. The group consists of members located throughout the United States and is headquartered in Atlanta, GA.

Membership
Membership Requirements

Monetary Requirements

Each member must deposit the minimum specified amount by the 15th of every month.
If the member wishes to deposit by giving cash to another member who will then deposit for them, this can be done at the meeting. However, notice of this transaction must be posted to the group website or via group email by the 15th.

A $5 fine will assessed if the deposit is not made by the 15th of every month. An additional $5 fine will be assessed for every additional week the monthly deposit is late.
The fine can be appealed to a committee anointed by the group
Minimum monthly deposit limits will be set yearly. Limit proposals put forth by the members will be voted upon during the September meeting and will take effect in January of the upcoming year.

The 2006 monthly deposit limit is $40. Starting October 2007, the limit is set for $50.

Withdrawal

A member must give two months prior notice to any withdrawal.
Any fees for exiting an investment is the responsibility of the member making the withdrawal.
All members will determine by majority vote on how the funds will be raised, such as investment liquidation or withdrawal from cash holdings.

Expulsion

If member fails to make monthly deposit for 3 consecutive months, there will be a mandatory expulsion vote by the club, where 75% of all members or more will determine expulsion.
Any member of the group can nominate another member for expulsion, where as the 75% vote will be in effect.

New Membership

New Members must be nominated by a current member and approved by 75% of all members or more of current members.
Voting can be done live or electronically
New members can be nominated by current members at any time
New Members must pay an initiation fee of $60 along with the first month’s deposit before membership is official.

Executive Committee

The Executive committee will include a President, Vice President, Treasurer and Secretary.

President
Setting the agenda for monthly meetings
Conducting meetings
Delegating authority in absence
Scheduling meetings
Vice President
Conduct social aspects
This includes delegating funds for any use other than investment purposes.
Conduct meeting in absence of the president

Treasurer
Keep records of members’ monthly deposits
Purchase stock with allocated monthly funds
Responsible for tax, business license and other financial responsibilities.
Assess fines for late deposits

Secretary
Keep meeting minutes
In charge of correspondence
Tallying up votes

Executive Elections

Each Executive will serve a one year term.

Each Executive will either nominate themselves, or be nominated, during the August meetings. A majority vote will determine the results during the September meeting.

Impeachment by 75% all member vote for failure to meet responsibilities. Impeachment vote can be proposed by any member of the club.

Investing

Investing vehicles

There is no restriction to what the group can invest in.

Investment Voting

At the end of each meeting, the group will vote on the investment choice for that month. Each investment choice will be numbered with 1 being the top investment choice. The lowest sum of each of the investment choices will be selected for that month.

Presentations will be given by any member who has a investment proposal for that month. After the investment proposals are completed, each member will vote for their favorite investment choice, with holding cash as one idea. Voting will be done by ranking the investment choices, with 1 being the highest ranking. The investment choice with the lowest sum, ie the highest ranking, will be chosen for that month.

Investment Entrance and Exit Points

Entrance points into investments will be determined by the member who nominated the selected investment.

Exit Points will be nominated by any member and voted upon by the association.

A 2/3 vote of members who hold a position in that investment is necessary to exit an investment.

A vote will then be made to determine how the capital will be allocated, such as reinvested or paid out to the members.