ALBERTA AUCTION MARKETS’ ASSOCIATION

Incorporated 1955

Code of Ethics and Constitution

NAME

1.       The name of the association shall be The Alberta Auction Markets’ Association

2.       The association shall be incorporated under the Alberta Societies Act.

AIMS – OBJECTS – ETHICS

3.       To promote the general welfare of the members in regard to business, social, recreational and all other activities pertaining to the general improvement of the Auction Markets.

4.       Factual, accurate and honest market reporting with actual volume and prices.

5.        To provide open and fair competition.

6.       To give equal treatment to all contributors and buyers.

7.       To work in co-operation with all governing bodies, at all levels.

8.       Honest service shall be given to all patrons of auction markets.

MEMBERSHIP AND VOTING

9.       Active membership with voting privileges shall consist of paid membership for each auction market owned, leased or operated by a company, partnership or individual.  Proxy votes will not be allowed.

10.   Membership fee shall be set a general meeting, passed by two thirds majority of members present, providing there is a sixty percent attendance of member auction markets at the meeting; then, and only then, a two thirds majority will decide.

OFFICERS

11.   All officers of the organization shall be elected at the Annual General Meeting, which shall be held at the pleasure of the President, approved by the Executive.

12.   Officers shall be President, Vice President, Executive Secretary, and as many other officers as desired.

13.   Financial statements should be prepared each calendar year by a Chartered Accountant firm appointed by the Board of Directors and their report be presented at each Annual General Meeting.

14.   All officers and chairmen of committees shall present written reports at all Annual Meetings.

15.   The Province shall be zoned into five parts, with one director for each zone.

16.   There shall be a standing committee named “The Grievance Committee” comprised of three members, including the Executive Secretary.  All grievances shall be submitted in writing to the Secretary, accompanied with a certified cheque of $50.00 for good will and shall be refunded if grievance is substantiated.  If not, the $50.00 will be forfeited to the Association.  The aggrieved parties have the right to appeal to a General Meeting if not satisfied with the finding of the Committee.

DUTIES OF OFFICERS

17.   The President shall preside at all meetings of the Association and shall also be chairman of the Executive.  The Vice President shall perform the office of the chairman at the President.

18.   The Executive Secretary shall keep the minutes of the proceedings of the Association in a book, the property of the Association; shall keep a list of the members and receive additions to the list; shall carry on the correspondence of the Association; and shall fulfill such other duties as usually pertain to this office; and shall handle all monies of this Association, to keep a record of all money received, paid out, and hand on; and to report the state of the treasury whenever officially called upon to do so.  All bills shall be paid by cheque.  The Association shall control all monies coming in directly or indirectly to the Association proper.  All monies received or paid out must pass through the Association Secretary Treasurer.  All monies received shall be deposited in a Chartered Bank or Alberta Government Treasury Branch, and all cheques shall be signed by the President and Treasurer.

19.   A petty cash allowance may be allowed to the Treasurer upon approval of the Executive in an amount sufficient; and all petty cash expenditures shall be accounted for to the Executive and included in the Treasurer report at each Annual General Meeting.

MEETING

20.   At least one annual and one or two general meetings shall be held during the year.

21.   A quorum at a general meeting shall consist of one third of members.

22.   Ten paid up members have the privilege of requesting a special member’s meeting, providing the reason is specifically stated on the petition forwarded to the Secretary.

23.   All meetings shall be conducted in the usual Parliamentary procedure.