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November 2012


Bylaws of the Nicaragua Study Group

Article I - Name

The name of the organization shall be “Nicaragua Study Group” and its journal shall be named “Nicarao.”

Article II - Purpose

The organization’s purpose shall be to study the postal and fiscal emissions of Nicaragua and its postal history and fiscal history and to disseminate the results of such study among its members, other philatelists and the general public.

Article III - Members

Any natural person may become a member of the organization on payment of its annual calendar-year dues, as established by the officers. The fiscal year of the group shall match the calendar year.

Article IV - Officers

The organization’s officers shall include a president, a secretary-treasurer and an editor, but the officer positions may be combined or be held by the same person as necessary, as determined by the president.

The president shall preside over the group’s affairs and may appoint officers, committees and heads of committees as the president deems necessary. The president shall fill any vacancies as the president deems necessary.

The secretary-treasurer shall maintain a list of the group members and a file of the group’s publications, shall receive any ballots and announce their results in the group’s journal, shall advise members when annual dues are payable; shall receive and deposit such dues and other group income in a chartered bank or chartered credit union; shall pay from such funds any correct and invoiced obli­gations of the group, including reimbursing officers for out-of-pocket expenses; shall maintain a budget for the group; shall publish an annual treasurer’s report in Nicarao, and shall report the fiscal status of the organization as required by law.

The editor shall produce the group’s quarterly journal, shall solicit articles and other content for it and edit it, shall arrange for printing the journal or creating other necessary files, and shall distribute the journal to members and others. Quarterly issues shall be dated January, April, July and October, or some similar sequence. In conjunction with the group’s purpose, additional issues or other publications may be published at the discretion of the officers.

Article V - Elections

The group shall conduct elections only as necessary. By February 1 of any year, a minimum of two members may nominate in writing any one or more of themselves as an officer or officers of the group. This offer shall name the candidate or candidates for the office or offices and shall state their willingness to serve. If any sitting officer or officers do not defer to the offer, then an election shall be held by ballot distributed with the July issue of the group’s journal, the results shall be published in the October issue, and anyone newly elected shall begin in office as of November 1.

Article VI - Tenure of Officers and Emergencies

Each officer shall serve an open term and as necessary shall recruit a replacement for that office, usually with the help of the president and subject to the approval of the president. If the group is unable to fill the position of president, the group may continue to function as the members see fit.

If the group has no members willing to serve as editor and secretary-treasurer, then within 12 months one or two members may reinstitute themselves as those two officers and shall act in accordance with the purpose of the organization and these bylaws.

In the event that the group formally dissolves, members may receive reimbursement of no more than their current year dues and paid-up future dues, but no reimbursement is guaranteed. Any remaining funds shall be donated to the American Philatelic Society.

Article VII - Not for Profit

No income or profit from the operation of the group, aside from reimbursement of correct and invoiced out-of-pocket expenses, shall inure to any officer or member of the group.

Article VIII - Amendments and Ballots

The secretary-treasurer shall distribute to all members a ballot for any amendment to these bylaws or for any election. A majority of those returning ballots to the secretary-treasurer shall determine the outcome of any ballot. The president shall break any tie vote.

The bylaws are as revised in 2012 and adopted by the mem­bership in summer 2012 (previous bylaws published in 1997)