Chapter Bylaws

 

NATIONAL INVESTOR RELATIONS INSTITUTE (NIRI) TWIN CITIES CHAPTER BYLAWS

[Adopted May 9, 2000; Reviewed 10/23/2012]

ARTICLE I. PURPOSE

NIRI Twin Cities (hereafter referred to as ‘Chapter’) is a not-for-profit professional organization functioning as a chapter of the National Investor Relations Institute. Its purpose is to promote the common interests of individuals engaged in the profession of investor relations — including IR education, career development and peer group communication and networking — and to recognize and support the objectives of the National Investor Relations Institute.

ARTICLE II. MEMBERSHIP

Membership Qualifications

There is a single class of membership in the NIRI Twin Cities Chapter. Membership in the Chapter shall be open to all members of NIRI National who are in good standing who desire to be affiliated with the Twin Cities Chapter and who agree to pay the prescribed dues of the Chapter. The Chapter recognizes dual-membership; that is, a member may belong to the Twin Cities Chapter and also to a sister chapter.

Lapsed Membership

Membership in the Chapter will extend ninety (90) days from the time that invoices are issued for the new Chapter year. Unless membership is renewed by dues payment during the aforementioned ninety days, membership status will be considered lapsed.

Individual Membership

Chapter memberships are held in the name of the individual. Memberships automatically accompany the individual member should he or she accept a position at another company during the membership year.

Termination of Membership

  • Members of the Chapter who, after being accepted to membership, cease to be members of NIRI National for any reason shall cease to be members of the Twin Cities Chapter. This may be overturned only by a specific action of the board of directors.
  • Members wishing to resign from the Chapter should notify the Vice President, Membership.
  • Dues must be paid regularly for members to remain “in good standing.” Default on dues payment by any member for more than ninety (90) days from date of invoice shall result in termination of membership.
  • The Board of Directors will have the power to suspend or withdraw the privilege of membership in the Chapter or take other appropriate disciplinary action with regard to a member if they demonstrate behavior that is inconsistent with NIRI National’s “Code of Ethics” or these bylaws. This action must be approved by at least two-thirds of the members of the Board of Directors.

ARTICLE III. BOARD OF DIRECTORS AND OFFICERS — DEFINED

Board of Directors

The Board of Directors consists of not more than eighteen (18) members, including up to ten (10) Officers and eight (8) Directors at Large.

New Board positions can be established by a simple majority (50 percent plus one) vote of the officers and directors. Board member candidates are selected by a Nominating Committee and are elected by the membership in an annual vote held each May (see “Election of Officers”). Any member in good standing with both the Twin Cities Chapter and NIRI National may stand for election to the Board.

Officers

The Officers of the Chapter shall be:

  • President
  • President-Elect
  • Vice President/Mentoring and Professional Development
  • Vice President/Secretary
  • Vice President/Treasurer
  • Vice President/Communications & Marketing
  • Vice President/Technology
  • Vice President/Membership
  • Vice President/Programs & Seminars
  • Directors at Large (up to eight)
  • Director/Programs & Seminars
  • Other

To be considered as a candidate for President, the member must be a senior representative of the Twin Cities IR community. To fill the President position, the Nominating Committee will most strongly consider individuals who have served as an Officer on the Board for at least two (2) consecutive years and held positions in at least two (2) of the following three (3) groups:

  • VP/Treasurer, VP/Technology, VP/Secretary or VP/Membership;
  • VP/Programs & Seminars or VP/Communications & Marketing, and
  • VP/Mentoring and Professional Development.

Any Chapter Officer who has held a position on the Board for at least one year may serve as President-Elect. The Nominating Committee will choose an appropriate candidate for this position. In addition to the position of President-Elect, this Chapter Officer will hold an additional position on the Board during this term. If the previous year President-Elect cannot accept or is unable to fulfill the duties of President, the Nominating Committee will choose an alternate appropriate candidate for this position.

The immediate past President of the Chapter may serve in a different Officer position or as a Director at Large if he or she chooses to do so. Officers serve one-year terms, as do Directors at Large, but may be reelected for additional one-year terms.

No individual may serve more than two consecutive years in the same position, whether by election, appointment, or resumption of office, except when approved by at least two-thirds (2/3) of the members of the Board of Directors. However, an individual may serve two consecutive year terms in one officer position and then stand for election to a different officer position again for not more than two consecutive year terms. Since the President-Elect automatically becomes President the following year, individuals may not serve consecutive years in that office, unless the President-Elect is unable to fulfill the duties of and serve in the President position when designated to do so, at which time the Board may approve the serving of consecutive years in these positions or direct the Nominating Committee to choose another appropriate individual for President. For purposes of the two-year limitation on term of office, the year or any part thereof, in which any officer is appointed, rather than elected, to the officer position shall count toward and be included in the calculation of the two-year limitation.

ARTICLE IV. ELECTION OF THE BOARD OF DIRECTORS AND OFFICERS

Nomination

A Nominating Committee consisting of at least three Chapter members shall be appointed annually by the President, subject to majority approval by the Board, to nominate candidates for the Board of Directors and candidates for election as Officers for the ensuing Chapter year. In a timely manner prior to the Annual Meeting, the Nominating Committee shall file with the Vice President/Secretary a list of the nominees for election. The Vice President/Secretary shall record the nominees on a ballot. At least two weeks prior to the meeting date, the Vice President/Secretary shall mail, fax or email the ballot and notice of the Annual Meeting to all Chapter members. This notice shall include the provision that additional nominations (write-ins) may be made. Ballots may be returned to the Vice President/Secretary prior to the Chapter’s Annual Meeting, or they may be voted on at the Annual Meeting. Newly elected officers should be immediately advised so that they are prepared to participate in planning for the ensuing year. The election results will be announced by the standing President at the Annual Meeting of members.

Election

Directors and Officers nominated shall be approved by a simple majority vote of the Chapter members voting by proxy or in person at the election meeting. Elected Directors shall take office on June 1.

Term and Term Limits

The term of each Director shall be one (1) year or until the successor assumes the duties of the positions. No Officer of the Chapter will exceed seven (7) consecutive years of service, including serving as a Director at Large. Term limits are established in order to attract new candidates to the Board and keep programming and ideas fresh and current.

Vacancies

If for any reason a Director at Large or Officer of the Chapter cannot complete the term of office designated, a successor shall be elected by the Board of Directors to serve until the term expires. The Nominating Committee shall submit a nomination to the Board of Directors for consideration. If this nomination is approved by a majority of the Board of Directors, the nominee shall fill the vacancy until the expiration of the original term of office. If the majority of the Board of Directors does not approve this nomination, the above procedure shall be repeated until the vacancy has been filled.

Removal of Officers or Directors

Any Officer or Director at Large of the Chapter may be removed at any time for misconduct or neglect of duty in office by a vote of at least two-thirds (2/3) of the Board of Directors (present or by proxy). An opportunity for a hearing before the Board shall be given if requested by the Officer or Director being removed from office. Officers or Directors may be removed from office at any duly called meeting of the Board, provided that notice of the proposed removal is contained in the notice of such meeting.

ARTICLE V. DUTIES OF OFFICERS AND DIRECTORS

Duties of the Board of Directors

The Board of Directors shall manage all the property, affairs and business of the National Investor Relations Institute – Twin Cities Chapter, as well as perform such other duties as specified in these Bylaws including, but not limited to, the following:

  1. The Board of Directors shall attend not less than 50 percent of all Board and general membership meetings and scheduled conference calls.
  2. The Board of Directors shall approve by a simple majority (50 percent plus one) of all Directors present and voting any major projects, programs or non-routine expenditures for the Chapter, as well as the adoption of a change in these Bylaws and/or a change in chapter dues.
  3. The Board of Directors shall authorize the President and Treasurer to jointly execute contracts and obligations in the best interests of the Chapter. In the event of an emergency, the President-Elect may stand in for the President or the Treasurer.
  4. The Board of Directors shall adopt Policies to implement and clarify these Bylaws and may amend the Policies at any regular or special meeting of the Board. A simple majority vote of those Directors present and voting shall be required to adopt or amend Policies.
  5. The Board of Directors shall make all final decisions on questions of interpretation of the Chapter’s Bylaws, Policies and Procedures.
  6. The Board of Directors may reorganize the composition of the Board, or create, dissolve or reorganize committees as it deems necessary for conducting the business of the Twin Cities Chapter.
  7. The Board of Directors shall perform any other duties as directed by the membership.

Duties of Officer and Director Positions

Officers and Directors at Large of the Chapter shall have the following duties and responsibilities:

  • President — The President is the chief executive officer of the Chapter and is responsible for providing overall leadership and direction of Chapter affairs. He or she is principally responsible for assuring continuing Chapter leadership development and orderly officer succession. The President shall preside over and vote at Board meetings, is responsible for development and maintenance of the Chapter’s Bylaws, shall preside over Chapter meetings, lead annual planning sessions, lead the nominating committee and officer election process and shall coordinate activities with and among Chapter officers. He or she, along with the Vice President/Mentoring and Professional Development shall build relationships with local media, colleges and other professional organizations. The President, along with the Treasurer, shall sign and deliver all contracts and obligations authorized by the Board of Directors. The President is the principal representative of the Chapter in all matters related to its dealings and relationships with the National Investor Relations Institute. The President may appoint such committees as the Board of Directors has approved, and may delegate to other Officers duties in addition to those specified in these Bylaws. The President shall supervise administrative staff working for the Chapter.
  • President-Elect — The President-Elect shall use the year to learn all aspects of the President’s job, thereby ensuring a smooth transition, as he or she shall automatically become the President for the next year. He or she will assume additional responsibilities designated by the current President in order to be fully prepared upon taking the office of the President. As President-Elect he or she shall, in absence of the President, perform the duties and exercise the powers of the President. The President-Elect, shall also perform such other duties as the Board of Directors and/or the President may assign.
  • Vice President/Mentoring and Professional Development — The Vice President/Mentoring and Professional Development shall work as a liaison between the Twin Cities Chapter and other professional groups and societies to establish relationships, joint programs, educational opportunities for Chapter members, and an expanded sense of community. To address the continuing educational needs of all members of the Chapter, he or she shall have the responsibility to seek out and further educational opportunities with both sister chapters and universities. This may include initiating contact with local universities to encourage their sponsoring an Investor Relations program, as well as developing or guiding curriculum. He or she shall be the primary source of communication for the Chapter regarding university and continuing education programs already in existence, and how best to access them. He or she, along with the President, shall build relationships with local media, colleges and other professional organizations.
  • Vice President/ Secretary — The Vice President/ Secretary is the recorder of all Chapter records. He or she shall record all monthly Board meetings, special Board meetings (as necessary), and the Chapter Annual Meeting. The Vice President/Secretary will prepare a transcript of each Board meeting, and issue this transcript to all Board members for their review and approval. He or she will maintain a file of all approved Board minutes, and make them available to current Board members on request. He or she will also maintain all other Chapter records, including Bylaws and copies of surveys, Chapter meeting notices, conference brochures, and other reports that may be presented at monthly Board meetings. The Vice President/Secretary shall perform such other duties as the Board of Directors shall prescribe.
  • Vice President/Treasurer — The Vice President/Treasurer is the custodian of all funds, accounts and financial records of the Chapter. He or she is responsible for budgeting and maintaining an accurate accounting of the Chapter’s income, expenses, and profitability. The Vice President/Treasurer will maintain the Chapter’s bank account, and will make recommendations to the Board regarding billing, collections and investment. The Vice President/Treasurer will submit to the rest of the Board monthly statements of profit and loss and annual financial statements to NIRI National. He or she will coordinate with the Vice President/Membership, Vice President/Programs and Seminars to ensure good fiscal management for all Chapter events. The Treasurer, along with the President, shall sign and deliver all contracts and obligations authorized by the Board of Directors. The Vice President/Treasurer shall oversee all assessments and collections of dues and other fees, and shall handle all deposits and pay all obligations of the Chapter. He or she shall perform such other duties as the Board of Directors shall prescribe.
  • Vice President/Communications and Marketing — The Vice President/Communications and Marketing has principal responsibility for ensuring a consistent, two-way dialog with the membership. In addition, the Vice President/Communications and Marketing shall aggressively promote the Chapter’s programs and workshops to appropriate audiences beyond the scope of the Chapter’s members. He or she will work closely with the Programs Committee and will employ the latest services and technologies to ensure that members are notified in a timely and effective manner regarding Chapter meetings and other special events. He or she is in charge of the annual member survey. The Vice President/ Communications and Marketing shall build relationships with the local media, colleges and other professional organizations. He or she shall perform such other duties as the Board of Directors shall prescribe.
  • Vice President/Technology — The Vice President/Technology will manage the development and maintenance of the Chapter Web site, including the supervision of the Webmaster and management of the Chapter’s job bank. He or she shall perform such other duties as the Board of Directors shall prescribe.
  • Vice President/Membership — The Vice President/Membership is responsible for recruiting of new members to the Chapter and for maintaining membership records. He or she will publicize Chapter services to both members and non-members to create awareness of the benefits of membership at both local and national levels. The Vice President/Membership will update and distribute membership materials via the Chapter web site and at monthly Chapter meetings, including NIRI literature and membership forms. Additionally, the Vice President/Membership will track Chapter demographics and coordinate with NIRI National to ensure timely updating of Chapter membership records, as well as identify member prospects. The Vice President/Membership will maintain membership information on the Chapter web site. He or she shall organize new member orientations or other new member activities. He or she shall perform such other duties as the Board of Directors shall prescribe.
  • Vice President/Programs and Seminars — The Vice President/Programs and Seminars shall drive the development and execution of all monthly Chapter programs, seminars and conferences and develop a program calendar, soliciting ideas from the Board of Directors (and other members) and gaining the Board’s final approval on selected topics. He or she is also responsible for coordinating Board member, vendor and participant support, and for assigning all tactical responsibilities. He or she shall design and write the content of program notices and coordinate mailing and fax broadcasts. The Vice President/Programs and Seminars shall select the meeting site, with input and guidance from the Board. The Vice President/Programs and Seminars shall arrange for speakers, either contacting them directly or asking another Board member or Program/Seminar Coordinator to do so. The Vice President/Programs and Seminars shall work with the Program Coordinators to manage room reservations, catering and registration. The Vice President/Programs and Seminars will welcome and introduce speakers, and will thank the speaker with a closing gift and follow-up letter.
  • The Vice President/Programs and Seminars shall review each meeting’s outcome, and summarize this information for the Board to promote awareness and quality control. He or she is the principal liaison with hotel catering for the event. He or she will also coordinate Board planning sessions to determine the seminar venue, theme and agenda and conduct publicity and manage the invitations for each event. The Vice President/Programs and Seminars will manage or direct the management of event registration, badges, and fee collection and work with the Vice President/Treasurer on post-event collections and a final financial accounting for each event. He or she shall perform such other duties as the Board of Directors shall prescribe.
  • Director(s) at Large — The Director(s) at Large are key advisors to the Board and active participants in ongoing Board and Chapter activities. Each Director at Large may have a specific assignment to serve on the Board and must attend the monthly Board meetings. Along with the President, the Directors at Large define their specific assignments for the year and will frequently volunteer to assume other tactical responsibilities for projects or other Board work. The Directors at Large will vote on all Board matters, and will lend their expertise to Board work and other Chapter and community interactions. They shall perform such other duties as the Board of Directors shall prescribe.
  • Director/Programs & Seminars – The Director/Programs & Seminars is principally responsible for the successful execution of monthly Chapter meetings, seminars and conferences. He or she shall assist the Vice President/Programs and Seminars to arrange for speakers, manage room reservations, catering and registration. Once the speaker is confirmed, he or she shall prepare and distribute the meeting notices, and perform such other duties as the Vice President/Programs & Seminars and/or the Board of Directors shall prescribe.
  • Committees — The President may appoint committees as the Board of Directors has approved to assist in any regular or special purpose.
  • Delegated Administrative Assistance — The Board of Directors, at their discretion, may delegate certain administrative duties to an outside paid office manager or a volunteer administrative committee, which reports to the President. Duties may include:
  1. Managing the Chapter office
  2. Accepting reservations for Chapter meetings, conferences and other events
  3. Working with Vice President/Programs on room logistics and catering
  4. Preparing name badges and other check-in materials
  5. Registering attendees at each meeting or conference
  6. Managing postage and coordinating correspondence by mail, facsimile or email
  7. Reconciling collections against advance reservations
  8. Delivering collections to the Vice President/Treasurer promptly. Also providing information to the Treasurer on no-shows and anyone else that may need to be billed for the meeting.
  9. Preparing and distributing a monthly program report to the Board of Directors
  10. Maintaining the Chapter Library
  11. Performing such other duties as the Board of Directors and/or President shall prescribe

ARTICLE VI. BOARD OF DIRECTORS MEETINGS

Board meetings will be held once per month at an established date and time. This date and time will be approved by the Board at the beginning of the Chapter year and will be consistent throughout the year to allow for improved planning and attendance.

A meeting of the Board of Directors may be held entirely or partially by any means of communication through which the Directors may hear each other, provided there is a sufficient number of Directors to constitute a quorum. Participation by such means shall constitute presence for purposes of determining the existence of a quorum.

Board members who are not able to attend a Board Meeting should convey their written agenda items to a Board member designate, and notify the President regarding the nature of these items so they can be included in the formal Board Meeting Agenda. This should be done no later than three (3) days in advance of the Board meeting, thus allowing the attending Board members to address all outstanding issues on a timely basis.

If the Vice President/Secretary is unable to attend a meeting, the Secretary should assign a Board member designate to record notes. This will ensure a record of each meeting and decisions reached at that meeting. Written minutes should be distributed to all Board members before the next scheduled Board meeting.

The Board may agree to hold Special Board Meetings to address critical or time-consuming issues. Likewise, the President may convene short Conference Calls for this same purpose. The cost of these Special Board Meetings or Conference Calls will be borne by the Chapter. All Board members are encouraged to attend these meetings whenever possible.

ARTICLE VII. MEMBERSHIP MEETINGS

The Twin Cities Chapter shall meet not less than four times in any calendar year at such times and in such places as shall be determined by the Board of Directors.

Annual Meeting

The Annual Meeting of the members of the Chapter for the election of its Board and Officers, and for the transaction of other business shall be held at such date, place and hour as designated by the Board of Directors.

Notice of Annual Meeting

Notice of the time and place of each Annual Meeting shall be given to Chapter members personally or by email, facsimile or U.S. mail at least two (2) weeks before such meeting occurs.

Voting

Each member of the Chapter in good standing shall be entitled to vote in person or by official proxy at all meetings, to hold office and to participate in all Chapter affairs.

Quorum

Fifty percent plus one or more members of the Chapter present in person or by official proxy shall constitute a quorum for the transaction of business. If less than a quorum is present at any Annual Meeting that has been duly called, a new meeting date shall be set. A simple majority (50 percent plus one) of Directors at Large and Officers present in person or by proxy shall constitute a quorum for transaction of business at Board meetings. All Directors at Large and Officers shall be notified of Board meetings at least five days in advance of the meeting.

ARTICLE VIII: MEMBER CONDUCT AT CHAPTER MEETINGS

NIRI chapter meetings provide educational and networking opportunities for their members in a collegial, corporate environment. Members new to IR are encouraged to build professional relationships and network freely with more experienced chapter members regarding their professional needs. Those who seek to be better informed and who want to raise their IR competency will find a warm reception. NIRI’s mission and goals focus on elevating the practice of investor relations, enhancing the stature of its members and meeting member needs.

Attendees are encouraged to participate appropriately in chapter activities. Marketing of products and services or overtly seeking employment are strictly prohibited at all chapter-related functions.

Enforcement

A letter welcoming new consultants and associate members will outline the various opportunities sanctioned by the chapter, while providing a “heads-up” about conduct that might be received negatively. Misperceptions are resolved by early, clear communication.

If violators continue to pursue marketing agendas at chapter meetings, even after receipt of the standard welcoming letter, a board member will have an informal conversation about chapter policy, and assure them that a “no selling” approach will get them better results. The board member can also remind them about other, more positive ways the firm can get its services in front of the membership and refer them to the NIRI national office. All consultants and vendor members receive a media kit upon joining NIRI, and once a year there after.

If blatant violations continue, the President will write a personal letter citing the behavior and the chapter policy. If this effort is unsuccessful, and the behavior continues, the chapter board has the authority to bar that member from meetings. This extreme decision may be decided by a unanimous board discussion. If this should occur, NIRI national should be informed.

The Chapter may choose to offer local sponsorships and exhibit opportunities for consultant and associate members to showcase their products and services.

ARTICLE IX. DUES

The Board of Directors shall establish annual dues for membership for each fiscal year, January 1 to December 31. The Board will announce dues for the coming fiscal year to the members no later than November 15th of the prior year. In addition, the Board will set fees to members for all regular and special meetings and events as considered necessary.

Twin Cities Chapter dues will be billed through NIRI National on a “member anniversary” basis. Dues income will be sent from NIRI National to the Chapter, along with dues reports indicating paid and non-paid status.

ARTICLE X. RATIFICATION AND AMENDMENT OF BYLAWS

These Bylaws will be ratified and may be amended or provisions may be repealed by a s two-thirds (2/3) vote of the Board of Directors, present or by proxy, at any meeting of the Board. Changes become effective immediately.

Proposal

An amendment or a repeal of one or more provisions of the Bylaws of the Twin Cities Chapter may be proposed by a simple majority of the Board of Directors or by a written request signed by a minimum of 10 percent (10%) of the general membership.

Adoption of an Amendment or Repeal of Bylaw Provision

These Bylaws may be amended or repealed by a two-thirds (2/3) vote of the full Board of Directors of the Twin Cities Chapter, provided a quorum (a super majority) is present in person or by proxy.

Technical Changes

The Vice President/Secretary shall have the authority to make necessary technical and typographical changes in the Bylaws to ensure editorial continuity with substantive changes approved by the Board of Directors. Such changes must be reported to and approved by the Board of Directors.

Precedent

The Bylaws of NIRI National shall have precedent over conflicting or incongruous Chapter Bylaws.