Phi Chi Medical Fraternity: STATUTE II -- ORGANIZATION

STATUTE II -- ORGANIZATION

(a) The Phi Chi Welfare Association, The Phi Chi Welfare Association shall be incorporated as a direct subsidiary of The Phi Chi Medical Fraternity, Inc.

(b) The Association's transactions, decisions, organization and financial structure, except as may be herein defined and limited, shall be autonomous and, except for the naming of its Board of Directors, independent of the control of The Phi Chi Medical Fraternity, Inc.

(c) Although autonomous, the Association's objectives shall be consistent and compatible with the principles of fraternalism set forth in the Phi Chi Constitution and Statutes and the Ritual.

(d) The Association shall receive for appropriate consideration and review, any recommendations, proposals, requests or suggestions from any active member, component chapter or the Grand Chapter of The Phi Chi Medical Fraternity, Inc., provided, however, that it shall be under no obligation whatsoever to accept, grant, approve, give credence to, support or endorse any matter so received.

SECTION 2: The avowed purposes of the Phi Chi Welfare Association, Inc. shall be:

(a) To loan funds on an equitable basis to worthy and needy students, insofar as finances permit.

(b) To aid and assist chapters in chapter house building, acquisition or improvement, insofar as finances permit.

(1) All loans made to students or chapters shall be at a reasonable fraternal rate of interest, as determined by the Board of Directors.

(d) To foster and establish, when finances permits permanent archives for the preservation of historical events of medicine, in the form of libraries, museums and repositories, for both medical lore and scientific achievements.

(e) To initiate, develop and promote programs of benefit and improvement for the members of the Fraternity, individually and collectively.

(f) To provide moral and financial support and assistance to The Phi Chi Medical Fraternity, Inc., for its preservation, development, improvement, expansion and all other objectives deemed appropriate and desirable by the Board of Directors, insofar as finances permit. Decisions of this nature shall be by a majority vote of the Association's Directors.

(g) To establish and promote projects and programs related to medical education and research for benefit of mankind, as the Board of Directors may from time-to-time authorize, as finances permit.

(h) To solicit contributions from Phi Chi alumni.

SECTION 3: Membership categories:

(a) Annual Members -- those who contribute a stipulated amount each year, as determined by the Board of Directors.

(b) Sustaining Members (Life Members) -- those who have achieved a Life Membership by consecutive annual contributions for fifteen (15) years, or those who have subscribed to a regular life membership.

(c) Honored Associate Members -- those persons or organizations, other than sustaining members, as shall be elected as such from time to time by the Board of Directors, from contributors or donors (financial or otherwise) to the corporation and those who have in like manner assisted in the promotion of its aims and purposes.

(d) Brotherhood Founder Members -- those members or individuals who have contributed or donated to the Association sums of money or the monetary equivalent of $1,000 or more.

SECTION 4: Officers and Directors

(a) The directors of the Association shall be five in number, two of whom will automatically be the Grand Secretary-Treasurer and Chairman of the Executive Trustees, of The Phi Chi Medical Fraternity, Inc. The remaining three shall be elected by the Grand Chapter of The Phi Chi Medical Fraternity, Inc.

(b) The term of office, for the Grand Secretary-Treasurer and the Chairman of the Executive Trustees, shall be ten (10) years.

(d) The officers of the Association shall consist of a President, Vice-President, and a Secretary-Treasurer, selected by the directors from their own group.

(e) In the event of death, serious illness, or other inability to serve of one of the directors, the remaining directors shall name a replacement to fill the unexpired term, if it is six (6) months or more, the replacement shall serve until the next meeting of the Grand Chapter, when it shall elect an individual for the unexpired term.

(f) The Board of Directors shall manage the property, business and affairs of the Association and shall establish By-Laws to effect such management. It is provided, however, that no enactments shall be made which would be counter to the moral principles, ethics of medicine, or fraternal brotherhood established by the Constitution and Statutes of The Phi Chi Medical Fraternity, Inc.