The APMMSF will be managed by a Board of Directors. Each Director shall be at least 21 years of age.
Each Board member must make an initial capital contribution to The Fund. This entitles each member to one vote. The amount is to be determined at the Annual General Meeting and ratified by the Board. That amount will stand for the period of one calendar year.
The term for each Board member will be one year and will be voted on at each Annual General Meeting for renewal.
Nominations for new Board members will come from existing Board members. All nominations shall be presented during the Annual Meeting at which a majority of votes will decide on all new Board members.
The Board will consist of a minimum of 5 (five) and a maximum of 9 (nine) board members. Four (4) members of the Board of Directors shall constitute a quorum for all meetings.
The officers of The Fund shall be a president, a vice-president and a secretary, who shall be elected at the annual meeting of the Board, and a treasurer, who shall be annually appointed by the Board.
The annual general meeting at which officers and Directors are elected shall be on a date in May to be determined by the Board of Directors.
Including the annual meeting, there shall be at least 6 ( six) general Board meetings per year. Three ( 3) unexcused absences by a Board member in a one year period shall constitute an automatic resignation.
Special meetings may be called by the secretary at the direction of the president, or at a written request of 3 ( three ) other Board members, provided that the entire Board of Directors are given at least notice one week before such meeting.
It is the intent of the Board to effectively and efficiently administer the needs of the Fund. The board has drawn up a complete set of by-laws to guide us. Complete copies of the by-laws of the fund are available upon request. Please click below to request a copy.