Name of the Organization :
Friend’s Fund (It can be change if we get better name)
Principle place of business : Any where in Bangladesh (elected by directors)
Purposes and powers of the organization : To built a ground to do business in next and to keep touch with all of our friends.
Proposed duration of the organization : 10 (Ten) years (It can be reduce by directors vote).
Requirements for member : 25 (Twenty Five) but Minimum is 05 (Five)
Requirements for membership : Must be our friend or blood relative. And, guaranteed by another member.
- Rights and responsibilities of members :
Rights:
Owner of Business (Profit/Loss) as per his/her share %,
Can control the business if elected by director,
Can explain his/her best Idea for future business.
Can vote for every important matter asked by directors.
Can transfer his share to another member.
Can be a candidate for vote.
Responsibility:
Need to attend every meeting.
Need to keep touch with his/her district Chief member.
Need to deposit min Tk. 500/- (Five Hundred) per month, he/she can deposit more.
Need to inform account responsible person with proof of deposit.
Need to obey organization By-laws.Can not quite his/her membership.
- Procedures for calling and conducting membership meetings:
Monthly Meeting:
Per month one meeting in every district call by chief.
Chief will call meeting on suitable place for everyone.
Chief will inform everyone about account statement.
Member can share their current experience with one another.
Six Month Meeting:
All districts Chief will attend meeting with Directors and account responsible person at Khulna in every after six months.
They will solve the problems of member for any organizational matter.
They will inform every member about their share quantity and deposit amount.
They will prepare for Yearly meeting agenda.
Yearly Meeting:
The most beautiful part of organization.
Every member must attend on this meeting.
Directors will declare members share quantity and organization fund.
Directors will ask for vote for next year responsible persons.
Directors will change automatically if new directors arise by most shares.
Arrange a party.
All cost will divide to per share.
Directors will discuss for Next year activities.Members will get documentation for his/her share.
- Directors:
o Three (3) or Five (5) Directors will elected by the share holders.
o The Directors can take decisions but, it should be approved by most of the share holders.
o They will responsible for every decision, but they will be not guilty if their decision goes failure.
o They will always keep touch with members.
o They will loose their voting power as members do.
o Only Directors have power to ask for vote of any organizational purpose.
o Only Directors will have the authority to permit new shareholders.
o Directors will keep the record of every meeting & approved the decision after their assessment.
o Directors can call for meeting any time for emergency.
- Account:
o Account will be opened for three person (elected by members vote)
o One person will be responsible for Account related information (elected by member)
o He will maintain a tally book for all information and he have to take sign of Directors on tally book in every six month meeting.
o He will get benefit of deposit free of one share (Tk 500) per month as accounts maintain cost.
o He can not resign from his duty only he can apply for resign and then member will select new Accountant by vote.
o Organization will deposit money to bank as Fixed Deposit.
o All of the Interest earns will also divided to per share and as per his/her Join time.
- Investment:
o We will go for invest only when all/Maximum shareholder can involve with business after properly analysis the current business sector.
o But it can be change if 80% of shareholder is agreeing for current investment and it will also decide by vote of shareholder.
o When the organization will go for investment then it will be a LIMITED COMPANY. And it will get a new name.
o Directors will setup all the documentation process for business.
o And there will be a target time to return the organization money that we can again develop new business or expand the business again.
o After turn to a LIMITED COMPANY it will run as per GOVT. Rule.
o Profit and Lose will be equally divided by per share.
o Directors will select who will control the business.
o Directors will try to involve members on business if anyone apply to involve with business and they will receive salary as per company system.
o Directors will create an Employee system as per market.
o Directors will also receive salary as per their work responsible and it will select before the business start.
o All property will be under Organization. No one can not spent money for his personal use.
o When our business will start the Account responsible person of the organization will be the Head of Accounts of the business and he will also receive salary as per company rule.
- Ending:
o The worst thing of the organization is if it goes for disappear.
o If 90% of shareholder wants to quite from organization then it must be ending of organization.
o If any shareholder wants to quite then he will quite with his deposit money only.
o But he/she have to pay the costs as per share cost.
o The quite member will get return his deposit money when the organization will go for business.
o Members can transfer his/her share to another member of the organization. Then new member will be owner of all the transfers share.
o The quite member can not involve with any business of the organization.
Acknowledgement:
I here do certify that I read the above information very carefully. And also certify that I will obey the By-laws and rules of the organization properly. And I authorized that all activities of the directors of the organization will taken in favor of my membership.
Signature of the member:
Member ID:
