THE COIN M A C H I N E
14
JOURNAL
(15) days before final action is taken
thereon; this statement shall be ac
companied by a notice of the time
when and place where the Board of
Directors is to take action in the prem
ises, provided that the said member
shall have been given an opportunity
to present a defense at the time and
place mentioned in such notice.
tfohe operation of the Coin
Machine Manufacturers Asso
ciation of America will be to
promote a friendly cooperation
between the manufacturers and
operators in all matters affect
ing the industry.
Article IV. Dues
Board of Directors at their discretion.
Upon the written request of five (5)
members of the Association, the Board
of Directors shall call a special meet
ing to consider a specific subject. No
tice for any special meeting to be given
in the same manner as for the annual
meeting, except that three (3) days’
notice only shall be necessary.
' Sec. 4. Quorum. Twenty ( 20 )
members present at any meeting of the
Association shall constitute a quorum,
and in case there be less than this num
ber, the presiding officer may adjourn
the meeting not longer than twenty
( 20 ) days.
Section 1 . The annual dues for
each active member of the Association
shall be Fifty Dollars ($50.00), pay
able in advance.
S ec . 2. The annual dues of mem
bers are payable on the 1st of the
month following the month in which
elected and annually thereafter upon
the 1st day of the month in which the
initial payment became due.
Sec. 3. Members who fail to pay
their dues within thirty (30) days
from the time the same became due
shall be notified by the Secretary, and
if payment is not made within the next
succeeding thirty (30) days, shall be
reported to the Board of Directors as
in arrears, and if so ordered shall be
dropped from the rolls and thereupon
forfeit all rights and privileges of
membership.
Sec. 4. Associate. The annual dues
for each associate member of the As
sociation shall be Twenty-five Dol
lars ($25.00), payable in advance.
Article V. Meetings
Section 1 . Annual. There shall be
an annual meeting of the Association
on the first business Thursday of De
cember, unless otherwise ordered by
the Association or on recommendation
of the Board of Directors, for election
of members of the Board of Directors
and for receiving annual reports and
the transaction of other business, and
notice of such meeting, signed by the
Secretary, shall be mailed to the last
recorded address of each member at
least five (5) days before the time ap
pointed for the meeting.
Sec. 2 . Regidar. Regular meetings
of the Association sliall be held on the
first business Thursday of March,
June and September upon the same
notice of time and place being given as
provided for the annual meeting.
Sec. 3. Special. Special meetings of
the Association may be called by the
Article VI. Annual Election
Section 1 . At the annual meeting
next held after the adoption of these
By-Laws, there shall be an election by
ballot for five (5) Directors of the As
sociation, two ( 2 ) of whom shall be
elected for a term of one year, two ( 2 )
for two years, and one ( 1 ) for three
years. At each annual meeting there
after a number of Directors equal to
that of those whose terms have expired
shall be elected for a term of three (3)
years. At the expiration of the said
term of three (3) years any Director
may be re-elected.
.
Sec. 2 . The Board of Directors
shall elect one of their members for
President, and three others as Vice
Presidents of the Association for a
term of one year. A majority or a quo
rum present shall be necessary to con
stitute an election.
February, 1932
Sec. 2. Duties. The Board of Di
rectors have the power to hold meet
ings at such times and at such places
as they may think proper; to admit
members and suspend or expel them by
ballot; to appoint committees on par
ticular subjects from the members of
the Board or from other members of
the Association; to audit bills and dis
burse the funds of the Association; to
print and circulate documents and
publish articles; to carry on corre
spondence and to communicate with
other associations interested in the
coin machine industry; to employ
agents; and to devise and carry into
execution such other measures as they
may deem proper and expedient to
promote the objects of the Association
and to best protect the interest and
welfare of the members.
Sec. 3. Meetings. Regular meetings
of the Board of Directors shall be held
immediately succeeding the annual
election in December and on the first
business Thursday of each month, and
notice of such meeting, signed by the
Secretary, shall be mailed to the last
recorded address of each member at
least ten ( 10 ) days before the time ap
pointed for the meeting; but the Presi
dent may when he deems necessary, or
the Secretary shall, at the request in
writing of five (5) members Of the
Board, issue a call for a special meet
ing of the Board, and only five (5)
days’ notice shall be required for such
special meetings.
Sec. 4. Quorum. Three (3) mem
bers of the Board of Directors shall
constitute a quorum for the transac
tion of business. In the absence of the
President and Vice-President the quo
rum present may choose a chairman
for the meeting.
Sec. 5. Absence. Should any mem
ber of the Board of Directors absent
Article VII. Board of Directors
himself unreasonably from three con
Section 1 . Government of Associa . secutive meetings of the Board without
tion. The property, affairs, business
sending a communication to the Presi
and concerns of the Association shall
dent or the Secretary stating his rea
be vested in a Board of Directors, con
son for so doing, and if his excuse
sisting of all the Directors. The mem
should not be accepted by the mem
bers of the said Board shall, upon
bers of the Board, his seat on the
election, immediately enter upon the
Board may be declared vacant, and
performance of their duties and shall
the President may forthwith proceed
continue in office until their successors
to fill the vacancy.
shall be duly elected and qualified.
Sec. 6 . Vacancies. Any vacancies
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