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Bylaws of CFA Society of Stamford, Inc.
 
Bylaws of CFA Society of Stamford, Inc. (as of January 15, 2013)
 ARTICLE I
 Formation and Purpose
 1. Name. Incorporated in Connecticut as of the 30th day of March, 1998, the name of the Corporation is
 “CFA Society of Stamford, Inc.” (herein referred to as the “Society”).
 2. Principal Office. The principal office of the Society shall be at the place set forth in the Articles of
 Incorporation or Charter (herein referred to as the “Charter”) or in a certificate filed with the State. The
 Society Board of Directors (herein, the “Board”) may change the location of the principal office and establish
 such other offices as it deems appropriate.
 3. Corporate Seal. The Board shall have power to adopt and alter the seal of the Society.
 4. Purpose. The purposes of the Society are as set forth in the Charter.
 5. Fiscal Year. The fiscal year of the Society shall, unless otherwise determined by the Board, end on
 June 30.
 6. Relationship with CFA INSTITUTE, and other Member Societies.
 The Society is a member (“member society”) of the CFA Institute (“CFA INSTITUTE”). As a member
 society, the Society:
 a) adheres to the CFA INSTITUTE articles and bylaws;
 b) works to enhance and build upon the principles and standards established by CFA
 INSTITUTE;
 c) participates in various functions with other member societies; and
 d) comprises qualifying individuals, each of whom is a member of the Society and CFA
 INSTITUTE, as detailed herein.
 ARTICLE II
 Definitions
 Definitions. The following are defined terms that may be used herein, as appropriate, in the singular or plural
 form:
 1. “Investment Decision-Making Process” is the professional practice of financial analysis, investment
 management, securities analysis, or other similar profession.
 2. “Investment Professional” is an individual who evaluates or applies financial, economic, and
 statistical data as part of the Investment Decision-Making Process.
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 3. “Acceptable Professional Work Experience,” as it relates to applicants seeking to become Members,
 refers to activities that consist to a majority extent of
 a) evaluating or applying financial, economic, and/or statistical data as part of the Investment
 Decision-Making Process involving securities or similar investments;
 b) supervising directly or indirectly those who practice such activities; or
 c) teaching such activities. Securities and similar investments include but are not limited to
 publicly traded and privately placed stocks, bonds and mortgages and their derivatives,
 commodity-based derivatives and mutual funds, and other investment assets such as real estate
 and commodities, if these other investment assets are held as part of diversified, securitiesoriented
 investment portfolios. In determining Acceptable Professional Work Experience, the
 Society shall use CFA INSTITUTE’s “Guidelines for Determining Acceptable Professional Work
 Experience,” as amended from time to time by CFA INSTITUTE.
 4. “Regular” Member is an individual who has been accepted for regular membership in the Society and
 whose membership has not been revoked or suspended.
 5. “Affiliate” Member is an individual who has been accepted for affiliate membership in the Society and
 whose membership has not been revoked or suspended.
 6. “Adjunct” Member is an individual who has been accepted for adjunct membership in the Stamford
 CFA Society without obtaining membership to the CFA INSTITUTE and whose membership has not been
 revoked or suspended.
 7. “Member” refers to Regular, Affiliate and Adjunct Members of the Society.
 8. “Member’s Agreement” is a document prepared by CFA INSTITUTE setting forth obligations and
 responsibilities of each individual member of CFA INSTITUTE.
 9. “Chartered Financial Analyst” and “CFA®” are marks of the CFA INSTITUTE.
 10. “CFA Program” is the CFA study and examination program administered by the CFA INSTITUTE.
 11. “Charterholder” is a current holder of the Chartered Financial Analyst (CFA) professional designation,
 as awarded by the CFA INSTITUTE.
 12. “Code and Standards” is the Code of Ethics and Standards of Professional Conduct, as amended
 periodically by CFA INSTITUTE.
 13. “Professional Conduct Statement” is a form prepared by CFA INSTITUTE inquiring into an
 individual’s conduct that must be signed and submitted on an annual basis (on or before a date designated by
 CFA INSTITUTE) by the individual Members of CFA INSTITUTE, other than those individuals excused
 under the CFA INSTITUTE bylaws.
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 ARTICLE III
 Membership
 1. Classes of Membership. The Society has three classes of Members: Regular ,Affiliate and Adjunct.
 2. Requirements for Becoming a Regular Member. Each applicant seeking to become a Regular
 Member of the Society shall:
 a) hold a bachelor’s degree from an accredited academic institution or have equivalent education
 or work experience as determined by CFA INSTITUTE;
 b) have attained one or more of the following experiences:
 i) three years of Acceptable Professional Work Experience and passage of Level I of the
 CFA Program, or such other appropriate examination as may be approved by the CFA
 INSTITUTE Board of Governors;
 ii) six years of Acceptable Professional Work Experience and passage of a selfadministered
 standards of professional practice examination in a format established and
 approved by the CFA INSTITUTE Board of Governors; or
 iii) be a Charterholding Member of CFA INSTITUTE;
 c) at the time of application, either be engaged in employment described under the definition of
 “Acceptable Professional Work Experience” in the CFA INSTITUTE Bylaws or be a
 Charterholder Member;
 d) Sign and submit a Member’s Agreement, a Professional Conduct Statement, and any additional
 documentation requested by CFA INSTITUTE; and Complete any additional application
 procedures or requirements established by CFA INSTITUTE.
 e) fulfill the Sponsorship Requirement.
 3. Requirements for Becoming an Affiliate Member. Each applicant seeking to become an Affiliate
 Member of the Society shall:
 a) sign and submit a Member’s Agreement, a Professional Conduct Statement, and any additional
 documentation as requested by CFA INSTITUTE; and
 b) fulfill the Sponsorship Requirement.
 4. Requirements for Becoming an Adjunct Member. Each applicant seeking to become an Adjunct
 Member of the Society shall:
 a) sign and submit a Member’s Agreement, a Professional Conduct Statement, and any additional
 documentation as requested by the Stamford CFA Society; and
 b) fulfill the Sponsorship Requirement.
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 5. Review of Applications for Membership. The Board shall have the right to review all applications for
 membership in the Society. In the event of disagreement concerning administration of Regular membership
 requirements, the Society shall have the right to appeal to the CFA INSTITUTE Board of Governors. The
 Board of Governors, or a designated committee thereof, shall have the authority to make final determinations
 on the application of Regular membership provisions.
 6. Membership in CFA INSTITUTE. Each Regular Member of the Society is also a regular member of
 CFA INSTITUTE. Each Affiliate Member of the Society is also an affiliate member of CFA INSTITUTE.
 7. Maintaining Membership Status. To continue being a Member, each such individual shall:
 a) adhere to all applicable rules and regulations, including the Society Bylaws, the CFA
 INSTITUTE Articles & Bylaws, the Code & Standards, and other rules relating to professional
 conduct;
 b) annually file a Professional Conduct Statement, unless excused as a recognized “Retired”
 Member (see below); and
 c) pay membership dues.
 8. Retired Members. To qualify to become a “Retired” Member of the Society, each such individual
 shall:
 a) at the time of application for retired status, be a Member of the Society;
 b) have been a member of CFA INSTITUTE for five years;
 c) no longer be substantially engaged in the Investment Decision-Making Process for
 compensation; and
 d) agree to the following:
 i) to notify CFA INSTITUTE if retirement status changes;
 ii) to be listed as “Retired” in the CFA INSTITUTE Membership Directory; and
 iii) to waive the right to be guaranteed a transfer of membership to another society.
 9. Membership List and Member Records. The Secretary shall keep a list of and make available to
 CFA INSTITUTE the names and addresses of all Members of the society and such other records and
 information relating thereto as the Board shall determine. The Board shall preserve its record and the records
 of its committees, with respect to each applicant and Member, for such period as the Board may determine.
 10. Resignation.
 a) Any Member of the Society may at any time cease to be a Member by submitting a resignation
 in writing to the Society President or Secretary. Such resignation shall be effective upon receipt,
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 or the date specified, and acceptance thereof shall not be necessary to make it effective unless it
 so states.
 b) The Society shall promptly notify CFA INSTITUTE of any Regular or Affiliate Member
 resignations, or if the Member notifies CFA INSTITUTE directly, CFA INSTITUTE will notify
 the Society.
 11. Dues.
 a) The annual membership dues for Members of the Society shall be determined by the Board.
 b) Each Member owes annual dues based on classification of membership (i.e., Regular, Affiliate,
 or Adjunct). In addition to the dues set by the Society, CFA INSTITUTE shall have the right to
 set and collect dues for each Member’s membership in CFA INSTITUTE and, if applicable, as a
 Charterholder.
 c) Any Member who has failed to pay the annual dues shall be automatically suspended from
 membership, without the necessity of any action by the Society or CFA INSTITUTE, until
 payment is made, at which time such Member shall thereupon be reinstated, subject to these
 Bylaws.
 d) Pursuant to an agreement between the Society and CFA INSTITUTE, CFA INSTITUTE will
 bill and collect membership dues for the Society.
 12. Sponsorship Requirement. To be considered for membership in the Society, applicants must be
 sponsored by one Regular CFA Institute member and the applicant’s supervisor, one of whom must be a
 Member of the Society. If the supervisor requirement cannot be met because the applicant is the principal of
 the firm, a student, retired, self-employed, or if providing the supervisor sponsor places the applicant in a
 difficult professional position, then an additional sponsorship by a Regular CFA Institute member is
 required.
 ARTICLE IV
 Meetings of Members
 1. Meetings. All meetings of Members shall be held at a suitable time and place within or without the
 state, as determined by the Board.
 2. Annual Meeting. There shall be an “Annual Meeting” of the Members that shall be held during the last
 two months of the Society’s fiscal year, as determined by the Board.
 3. Special Meetings.
 a) Special meetings of the Members may be called (a) by the President; or (b) by the Secretary,
 upon written application by a majority of the Board, or in case of the death, absence, incapacity
 or refusal of the Secretary, by another Officer.
 b) The call and the written application shall state the purpose for which the proposed meeting is to
 be held.
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 4. Notice of Meeting. A written notice of each meeting of Members containing the place, date, hour, and
 the purposes for which it is to be held, shall be given to each Regular Member by the Secretary or, in case of
 the death, absence, incapacity, or refusal of the Secretary, by any other officer, at least fourteen (14) days
 before the meeting by sending such notice by US surface mail or by any reliable electronic means from
 which a hard copy of the notice can be printed (e.g., telegram, email), to each Regular Member at the address
 as it appears in the records of the Society. Notice of a meeting need not be given to a Member if a written
 waiver of notice, executed before or after the meeting by such Member or an authorized attorney, is filed
 with the records of the meeting.
 5. Omission of Notice. The accidental omission to give notice, or the failure by any person entitled
 thereto to receive notice thereof, shall not invalidate the proceedings at any meeting.
 6. Quorum. At any meeting of the Members, the Regular Members present in person or represented by
 proxy, shall constitute a quorum. Any meeting of the Members of the Society may without further notice to
 any Member be adjourned to a different time and place. At any adjourned meeting at which a quorum shall
 be present, any business may be transacted that could have been transacted at the original meeting. When a
 quorum is present at any meeting, a majority of the Regular Members present in person or represented by
 proxy shall decide any question brought before such meeting unless otherwise provided herein, bylaw, or
 Charter.
 7. Voting and Proxies.
 a) Each Regular Member in good standing shall have one vote to be exercised in person or by
 proxy. Affiliate Members do not have voting rights in the Society.
 b) Proxies must be in writing and filed with the Secretary before being counted. The person
 named in a proxy may vote at any adjournment of the meeting for which the proxy was given, but
 the proxy shall terminate after final adjournment of the meeting. No proxy dated more than six
 (6) months before the meeting named in it shall be valid.
 8. Presiding and Recording Officers.The President shall preside at meetings of Members. The Secretary
 shall act as secretary of the meetings, and in the Secretary’s absence, a temporary secretary shall be chosen
 by the President.
 9. Action by Consent. Any action to be taken by the Members may be taken without a meeting upon
 unanimous vote of all Members entitled to vote on the matter consenting in writing to the action. The
 Secretary shall file the written consent with the records of the meeting of the Members. Such consent shall be
 treated for all purposes as a vote at a meeting of the Members at which a quorum was present and voting.
 ARTICLE V
 Board of Directors
 1. Authority and Responsibility. All corporate powers shall be exercised by or under the authority of,
 and the business of the Society managed under the direction of, the Board, subject to this set of Bylaws, the
 Charter, and applicable law.
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 2. Composition. The Board shall consist of no fewer than seven (7) and no greater than fifteen (15)
 Directors, including the following ex officio Directors: the President, two (2) Vice-Presidents, Treasurer,
 Secretary, and if available and willing to serve, the two (2) immediate past Society Presidents (“Immediate
 Past Presidents”). A minimum four fifths of the number of Directors shall be comprised of Regular
 Members; provided, however the remaining Directors may be Affiliate or Adjunct Members.
 3. Qualification. Members of the Society in good standing may serve on the Board subject to the
 limitations set forth under Section 2 Composition immediately above.
 4. Election and Term. The President, Vice Presidents, Treasurer, and Secretary shall each serve as a
 Director for a term concurrent with his or her respective term as an officer of the Society. The Past Presidents
 shall serve as a Director for a term ending two (2) years after expiration of his or her term as Society
 President.
 5. Meetings and Notice.
 a) Meetings of the Board may be held within or without the state, as determined by the Board or
 the President.
 b) The annual and regular meetings of the Board may be held without call or notice at any time
 and place determined by the Board, provided that any Director who is absent when such
 determination is made shall be given written notice by the Secretary of the time and place of such
 meetings.
 c) Special meetings of the Board may be called by the President or by 3 or more of the Directors
 then in office. Written notice of any special meeting shall be given by the Secretary to each
 Director:
 i) mailed via overnight mail to the last known business or home address, at least seventytwo
 (72) hours before such meeting; or
 ii) delivered in person or by any reliable electronic means from which a hard copy of the
 notice can be, or is, printed (e.g., telegram, e-mail) at least twenty-four (24) hours before
 such meeting.
 Notice of a meeting need not be given to any Director if a written waiver of notice is executed
 before or after the meeting or if the Director attends the meeting without protesting the lack of
 notice prior to or at the commencement of the meeting.
 d) A notice or waiver of notice of any meeting of the Board need not specify the purposes of the
 meeting.
 6. Presiding and Recording Directors. The President shall preside at meetings of the Board. The
 Secretary shall act as secretary of the meetings, and in the Secretary’s absence, a temporary secretary shall be
 chosen by the President.
 7. Quorum and Voting.
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 a) Each Director, including ex officio Directors, shall have one vote that may be exercised in
 person, via telephonic conference call or by written consent.
 b) A majority of Directors in office shall constitute a quorum at any meeting of the Board.
 c) Though less than a quorum be present, any meeting may without further notice be adjourned to
 a different time or place.
 d) At any adjourned meeting at which a quorum is present, any business may be transacted that
 could have been transacted at the original meeting.
 e) If a quorum is present at a meeting, a majority of the Directors present may decide any
 questions, unless otherwise provided herein, by Charter, or by law.
 8. Vacancies. A vacancy on the Board, except for ex officio positions, may be filled by the remaining
 Directors then in office by the appointment of a successor to hold office for the unexpired term of the
 Director whose place is vacant and until a successor is elected at the next regularly scheduled election.
 9. Resignation. Any Director may at any time resign by delivering his or her resignation in writing to the
 Society at its principal office or to the President or Secretary. Such resignation shall be effective upon receipt
 or the date specified, and acceptance thereof shall not be necessary to make it effective unless it so states.
 10. Removal. Any Director may be removed at any time with or without cause at any meeting of the
 Members by a vote of a majority of the Society’s Regular Members at a meeting at which a quorum is
 present.
 11. Action by Consent.
 a) Any action to be taken by the Directors may be taken without a meeting if all of the Directors
 entitled to vote on the matter consent in writing to the action.
 b) The Secretary shall file the written consent with the records of the meetings of the Directors.
 c) The consent shall be treated for all purposes as a vote at a meeting of the Board at which a
 quorum was present and voting.
 ARTICLE VI
 Officers
 1. Designation.
 a) The Officers of the Society shall consist of a President, two Vice-Presidents, Treasurer,
 Secretary, two Most Recent Past Presidents, and such other Officers as the Board may from time
 to time appoint.
 b) A person may hold more than one office at the same time provided that the President and
 Secretary may not be the same person.
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 c) If required by the Board, an officer shall give the Society a bond for the faithful performance of
 duties in such sum with such surety or sureties as shall be satisfactory to the Board.
 2. Qualification. Only Directors of the Society may serve as Officers.
 3. Election and Appointment.
 a) The President, Vice-Presidents, Treasurer and Secretary shall:
 i) be elected by the Regular Members at the Annual Meeting of Members;
 ii) hold office for one year commencing on July 1 next following the date of their election
 and until their respective successors are elected or appointed.
 b) When a President’s term expires, he or she, if able and willing, shall automatically be appointed
 to serve as the Most Recent Past President for two years, an officer position.
 c) Officer positions other than those listed in Sections 3a and 3b immediately above, may be
 appointed by the Board at any time and shall hold office for such term as the Board may
 determine.
 4. President. The President shall be the chief executive officer of the Society and, subject to the direction
 of the Board, shall:
 a) exercise general supervision and control of the affairs of the Society;
 b) preside as “Chair” at all meetings of the Members and Board;
 c) unless otherwise appointed as a Member thereof, be an ex officio, nonvoting Member of each
 Society committee, including the Nominating Committee; and
 d) have such further powers and duties as the Board shall determine.
 5. Vice-Presidents. The Vice-Presidents shall:
 a) have such powers and perform such duties as may be determined by the Board;
 b) exercise all powers and duties of the President during the President’s absence or in the event of
 the President’s inability to act; and
 c) become president of the Society in the event of the President’s death or resignation and shall
 serve for the remainder of the President’s term, or until a successor is elected pursuant to the
 Bylaws
 6. Treasurer. The Treasurer shall:
 a) maintain general charge of the financial affairs of the Society, subject to the direction of the
 Board;
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 b) keep full and accurate records thereof, which shall always be open to the inspection of the
 President or any Director;
 c) submit an annual financial statement and such other statements as the Board may require; and
 d) render to the Board, at regular meetings thereof or whenever they may require it, a statement of
 the accounts of transactions as Treasurer and the financial condition of the Society.
 7. Secretary. The Secretary shall:
 a) record and maintain records of the proceedings of all meetings of the Members and of the
 Board in books kept for that purpose;
 b) notify the Members and the Directors of all meetings in accordance with the Bylaws;
 c) keep all the records of the Society not kept by the Treasurer; and
 d) perform such other functions as determined by the Board.
 8. Most Recent Presidents. The two Most Recent Past President shall have such powers and perform
 such duties as may be determined by the Board.
 9. Delegation of Power. In the case of the absence or disability of any officer of the Society, or for any
 other reason deemed sufficient by the Board, the Board may, by vote of a majority of the Directors in office,
 delegate such officer’s power or duties to any other officer or Director or may declare the office vacant.
 10. Vacancies. A vacancy in any office may be filled by the Board for the unexpired term of the officer
 whose place is vacant and until a successor is elected or appointed pursuant to the Bylaws.
 11. Resignation. Any officer may at any time resign his or her office by delivering a resignation in writing
 to the Society at its principal office or to another officer. Such resignation shall be effective upon receipt, or
 the date specified, and acceptance thereof shall not be necessary to make it effective unless it so states.
 12. Removal. Officers elected or appointed by the Board may be removed from their respective offices with
 or without cause by vote of a majority of the Directors then in office.
 ARTICLE VII
 Committees
 1. Creation, Appointment, and Composition.
 a) The Board may create committees that may, as determined by the Board,
 i) contain any number of Members; and
 ii) exercise powers conferred upon the same by the Board, unless otherwise provided
 herein, by Charter, or by law.
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 b) The President shall designate the chair of any committee from among the committee Members
 and, unless otherwise appointed as a Member thereof, automatically be an ex officio, nonvoting
 member of each committee.
 c) Any committee to which powers of the Board are delegated shall be composed solely of
 Directors.
 d) All members of committees shall hold office until July 1 in the year next following the
 appointment or election, unless otherwise determined by the Board.
 2. Nominating Committee.
 a) The Board shall appoint annually, at least sixty (60) days prior to the Annual Meeting, a
 Nominating Committee of three (3) persons, one of whom shall be the designated chair.
 b) The Nominating Committee shall
 i) make Director and officer nominations, subject to the qualifications set forth herein;
 ii) report its nominations in writing to the Secretary not less than three weeks prior to the
 Annual Meeting; and
 iii) instruct the Secretary to send a copy of the report of the Nominating Committee, or
 summary thereof, at least fifteen (15) days before the Annual Meeting to each Regular
 Member and, if so required, to each Affiliate Member.
 c) Any Regular Member may offer nominations for Directors or Officers from the floor at the
 Annual Meeting, subject to the qualifications set forth herein, provided that such Member has
 submitted to the Secretary not later than five (5) days before the Annual Meeting a notice stating
 the names of the proposed nominees signed by not less than five percent (5%) of the Regular
 Members of the Society.
 ARTICLE VIII
 Professional Conduct
 1. Adoption. As a member society of CFA INSTITUTE, the Society has adopted the CFA INSTITUTE
 Code & Standards and requires that its Members comply with the provisions thereof.
 2. Enforcement.
 a) The Society and its Board
 i) delegate to CFA INSTITUTE all authority and responsibility for enforcement of the
 Code & Standards with respect to all Members of the Society; and
 ii) shall report to CFA INSTITUTE any violations of the Code & Standards that come to
 the Society’s attention.
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 b) The membership of an individual in CFA INSTITUTE that has been suspended or revoked
 shall:
 i) as applicable, be automatically suspended or revoked from membership in the Society;
 and
 ii) if applicable, cease to hold any position in the Society.
 3. Compliance and Support.
 a) By accepting membership in the Society, and as a condition for continued membership thereof,
 each Member subscribes to, and shall comply with, the Code & Standards. Failure to comply is
 cause for disciplinary action by CFA INSTITUTE pursuant to the Rules and Procedure.
 b) The Board may, in its discretion, and at the request of a Member, lend the support of the
 Society, to any Member, who by reason of compliance with the Code and Standards, is alleged to
 be in breach of the instructions of the Member’s employer, or the conditions of his or her
 employment.
 4. Annual Statement.
 a) Each Member shall
 i) unless otherwise excused pursuant to the CFA INSTITUTE bylaws, annually complete
 and return a Professional Conduct Statement to CFA INSTITUTE; and
 ii) furnish such additional information relating to professional conduct as may be
 requested by CFA INSTITUTE.
 5. Charges. Any person may, in writing, address the Society or an Officer or Director thereof concerning
 a charge or charges of breach of the Code & Standards by a Member. The Board shall promptly forward all
 such complaints to the CFA INSTITUTE Professional Conduct Program. The complainant may request that
 the complaint remain sealed until it is received by the CFA INSTITUTE Professional Conduct Program.
 ARTICLE IX
 Indemnification
 1. The Society shall indemnify applicable persons to the full extent provided by applicable law.
 a) Every Director, officer, or Member of the Society and their heirs, executors, and administrators,
 respectively, shall from time to time and at all times be indemnified and saved harmless out of
 the funds of the Society, if the funds so permit, from and against
 i) all costs, charges, and expenses that such Director, officer, or Member sustains or
 incurs in or about any action, suit, or proceeding that is brought, commenced, or
 prosecuted against him or her for or in respect of any act, deed, matter, or thing
 whatsoever made, done, or permitted by him or her in or about the execution of his or her
 duties pursuant to the Bylaws; and
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 ii) all other costs, charges, and expenses that he or she sustains or incurs in or about or in
 relation to the affairs of the Society except such costs, charges, or expenses as are
 occasioned by his or her own willful neglect or default.
 ARTICLE X
 Amendments
 1. Power to Amend. The Bylaws of the Society may be amended as provided in Sections 2 and 3 below.
 2. Proposal for Amendment. A proposed amendment of the Bylaws shall be sponsored by at least five
 (5) Directors and shall be submitted to the Secretary at least seven (7) days before the next meeting of the
 Board. The Secretary shall forward the proposed amendment to all Directors at least three (3) days before the
 meeting.
 3. Adoption of Amendment.
 a) A proposed amendment shall be adopted upon vote by three-fourths of all Directors then in
 office.
 b) Subject to the Charter and applicable law, amendments to the CFA INSTITUTE Bylaws that
 necessitate amendment of the Society Bylaws shall be implemented by the Board in accordance
 with Article V Sections 7 and 11, without the requirements of this Article X Sections 1, 2 and 3.
 ARTICLE XI
 Dissolution
 1. Procedure.
 a) The Society may be dissolved by a three-quarter vote of the Regular Members.
 b) In the event of the liquidation or dissolution of the Society:
 i) no Member shall be entitled to any distribution or division of its property or its
 proceeds; and
 ii) all funds and property of the Society shall be transferred to or applied for the benefit of
 one or more corporations or organizations qualifying under sections 501(c)(3) or
 501(c)(6) of the Internal Revenue Code of 1954, as it may from time to time be amended,
 or similar provisions of any subsequent legislation, as selected by the Board and by any
 court that may exercise jurisdiction over such liquidation or dissolution, if any.
 Bylaws Adopted:
 January 15, 2013
 By:
 CFA Society of Stamford, Inc. Board of Directors 2012 – 2013