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STATUTE VII - REVENUES

SECTION 1: Revenues of the Fraternity shall consist of two components, Registration Fees and Chapter Dues.

(a) The amount of the Registration Fees shall be established by the Grand Chapter.

(b) Chapter dues shall be established by By-Law in each chapter and shall be no less than the amount necessary to defray all expenses incident to the chapter's operation.

SECTION 2:

(a) The Registration Fee, for initiation and lifetime membership into The Phi Chi Medical Fraternity, Inc., shall be a one-time payment of one-hundred twenty-five dollars ($100.00) (U. S. currency).  This one-time total payment of Registration Fee shall be paid to the Chapter Treasurer at the time of initiation and forwarded to the Central Office with Form 3.

(b) The Registration Fee, established by the Grand Chapter, shall be paid prior to initiation, and be sent with Form 3 to the Central Office of Phi Chi immediately after the initiation ceremony.

(c) All Registration Fees or other monies collected by the Chapter Treasurer, on behalf of the Central Office, shall be forwarded to the Central Office along with the proper Form 3, by the Chapter Secretary not later than five (5) days after the collection dates; provided that, in the instance of initiation, remittance shall be not more that five (5) days after the formal initiation.

(d) Upon receipt of the proper Registration Fee, the Grand Secretary-Treasurer will issue a numbered official membership card for each initiate.

SECTION 3:

(a) Chapter dues, paid on an annual basis, shall be paid to the Chapter Treasurer no later than October 1 and February 1.

(b) Houses must be covered by insurance.

This page was last updated on: March 29, 2015
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