Wisconsin Securities Exchange sta-wi.com
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Wisconsin Security Traders Association CONSTITUTION AND BY‑LAWS THE MILWAUKEE SECURITY TRADERS ASSOCIATION 1) To promote and maintain a fellowship within the trading fraternity Of Metropolitan Milwaukee, 2) To provide benefits derived from personal acquaintance between those who are engaged in the business of trading, and to promote the general welfare of those persons, 3) To provide a forum for the discussion of subjects deemed pertinent to the furtherance and improvement of the Trading function at both the local level and at the National level. Any person, male or female, actively engaged in the trading of securities in the investment banking or banking business in Metropolitan Milwaukee, (A trader is defined as one who regularly makes commitments for his company, or executes orders on behalf of his firm, or clients thereof, with other dealers.) Expulsion of a member for conduct considered harmful to the interests of the Association and/or of the securities industry, shall be subject to a unanimous vote of the officers of the Association. Officers of the Association shall consist of a President, a Vice President and a Secretary‑Treasurer. The President will preside at all meetings of the Association and will exercise a general supervision over all activities of the Association. The Vice President will perform all duties of the President in his absence and will automatically succeed him upon expiration of his term of office. |
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The Secretary‑Treasurer shall give notice of all general meetings, keep minutes and records of these meetings, collect all dues and fees and keep the accounts of the Association. The SecretaryTreasurer succeeds the Vice President. No officer shall succeed himself. A period of not less than one year must intervene before a former officer of the Association may once again stand for office. The fiscal year shall be from the first day of April to the last day of March. Officers' terms of office shall begin and terminate on these dates.
Meetings of the Association shall take place at least once per fiscal year. The Secretary‑Treasurer will notify members not less than 15 days before any general meeting of the Association, as to the time and place of said meeting. Election of officers will be held at the first meeting of the fiscal year. A quorum (51% of the qualified members of the Association) must be present at the meeting having to do with election of officers, or with any transaction of any business on behalf of the Association. The president may elect to call the other officers of the Association to periodic special meetings for the discussion of specific subjects not relevant to, or necessary for, the presence of the entire active membership of the Association.
Dues of active members shall be $10.00 per year. An initiation fee of $5.00 shall be charged. Member dues and initiation fee shall be non‑refundable. Dues are payable 5 days prior to the first meeting of the fiscal year. A grace period of 15 days will be granted for late payment, after which, the member's name will automatically be dropped from the rolls. Reinstallment is subject to candidate's payment of an installation fee of $5.00 and prepayment of dues for the current fiscal year. |
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The Secretary‑Treasurer, after consultation with the other officers, shall have the option of investing any monies in excess of expenses of the Association in interest hearing accounts. (Savings deposits or short‑term Government obligations.)
No officer of the Association shall incur any indebtedness in behalf of, or in the name of, the Association without specific authorization of the officers of the Association.
Amendments to these by‑laws shall be authorized only upon a vote of two‑thirds of qualified members present at any meeting, provided that a majority of all active members is present at said meeting. I. Dated April 17, 1974 Paragraph Six under the general heading "Officers" shall be amended to read; The Fiscal Year shall be from the first day of January to the last day of December. Officers' terms of office shall begin and terminate on these dates.
II. Dated January 8, 1975 A. Paragraph one under the general heading "Officers" shall be amended to read: Officers of the Association shall consist of a President, a Vice President, a Secretary‑Treasurer and a Board of Directors.
B. The Board of Directors shall consist of the three immediate past Presidents still active in the securities business for a term of three years. The Board shall seek new areas of interest and activities for the Association and develop membership.
Dated January 1976 III. Dues have been increased from $10.00 to $20.00 per year.
IV. Dated December 1978 Election of officers has been amended to read: that "candidates will be selected by a nominating committee composed of the officers of the Association, as well as nominations from the floor. Voting will be done by members present at the meeting and authorized proxies." |
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VIII. Dated February, 2003 Dues of all active members shall be $100 per year. Member dues are non-refundable. There will be no initiation fee. IX. Dated February, 2003 Officers of the Association will include a Director, a President, a Vice President and a Secretary-Treasurer. The Secretary-Treasurer position will be nominated by a member of the Association and voted into office with a majority vote. The Secretary-Treasurer succeeds the Vice-President. The Vice-President succeeds the President. The President succeeds the Director. The role of the Director shall be to advise the officers when requested. a. In the event of an office vacancy, all positions shall be filled by the next officer in succession. The association will then nominate and vote on a new Secretary-Treasurer. |