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CHAPTER BY-LAWS

Article VIII: Finances

Section 1: General Procedures
Clause 1: Procurement
This Chapter shall procure its funds through membership dues, fees, and assessments, and through fundraising activities conducted in accordance with the Chapters governing documents.
Clause 2: National Fraternity Funds
All receipts handled for the National Fraternity, such as pledge fees, initiation fees, annual chapter assessments, and orders for supplies, shall be kept carefully segregated by adequate bookkeeping procedures so that these revolving funds may not be used by the Chapter.
Clause 3: Audits
At the end of each semester, and as otherwise required by the Chapter, the Chapters financial books shall be audited by the Advisory Committee and such other auditors as the Chapter may specify.
Section 2: Dues and Fees
Clause 1: Dues
Dues for active members shall be set by a two-thirds vote at a regular Chapter meeting, provided that notice has been given at the previous regular meeting, or by a vote of a majority of the active membership; the new dues shall take effect the following semester. Dues shall not be required for the term in which a member is initiated. The payment deadline for dues is the end of the third regular Chapter meeting for the semester.
Clause 2: Pledge and Initiation Fees
Each person becoming a pledge or active member shall be required to pay the appropriate Chapter and National Pledge or Activation Fee(s) before they are duly pledged or initiated.
Clause 3: Assessments
An assessment may be levied on all active members upon a two-thirds vote at a regular Chapter meeting, provided that the proposal for the assessment has been submitted in writing two regular meetings in advance.
Clause 4: Activity Charges
For the sole purpose of defraying expenses directly associated with a Chapter project or event, the Chapter may require that an activity charge be paid in order for members to participate in that project or event.
Section 3: Standing Rules Regarding Finances
The adoption or amendment of any standing rule regarding Chapter finances requires a two-thirds vote at a regular Chapter meeting, provided that notice has been given at the previous regular meeting, or a vote of a majority of the active membership.

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