4.4. SR 12-07-2015 - Laserfiche WebLink

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BYLAWS Elk River Fire Department Relief Association 7. Unfinished business 8. Election of Officers or Trustees (annual meeting) 9. New business 10. Adjournment 4.8 Voting. Each active member in good standing shall be entitled to vote on any matter which the members vote upon. Neither cumulative voting nor voting by proxy shall be allowed. All votes, unless specified prior to the vote, shall be by voice vote. If a majority cannot be determined by voice vote, the chair shall call for a show of hands or conduct a vote by ballot. AUTrr1.F. V FUNDS 5.1 Funds required. The Association shall maintain in its treasury a General Fund and a Special Fund. 5.1.1 General Fund. The General Fund shall be credited all moneys received from fines, entertainment revenues and any moneys or property donated, given, granted or devised by any person for unspecified uses. The General Fund may be used for any purpose including but not limited to the following: expenses of entertainment, dinners, dances, games, flowers for the sick or deceased members, expenses of administering the fund and for any and all purposes reasonably related to the welfare of the Association or its members as authorized by action of the Board of Trustees or by a majority of the members present and voting at any annual or special meeting of the members. 5.1.2 Special Fund. The Special Fund shall be credited with all fire state -aid moneys received pursuant to law, all taxes levied by or other revenue received from the City pursuant to law providing for municipal support for the Association, any moneys or property donated, given, granted or devised by any person which is specified for use for the support of the Special Fund, and any interest earned upon assets of the Special Fund. No disbursement shall be made from the Special Fund for any purpose except a purpose for which such Special Fund is held in trust consistent with provisions in the Articles of Incorporation or Bylaws, and administrative expenses as limited by Minn. Stat. §69.80. All other expenses of the Association shall be paid out of the General Fund. 5.2 Deposits. All money belonging to this Association shall be deposited to the credit of the association in such banks, trust companies or other depositories as the Board of Trustees may designate. The Board of Trustees shall make deposits in conformance with state statutes, the Bylaws and the investment policy. 5.3* Disbursements. No disbursement of the funds of this Association shall be issued until the claim to which it relates has been approved by the Board of Trustees. (1) All Special Fund checks or expenditures drawn by the Treasurer must be countersigned by the President or Secretary. ARTICLE VI BENEFITS 6.1 Service Pensions. 6.1.1* Eligibility requirements. To be eligible to receive a service pension, a member must meet all of the following requirements: (1) Be at least 50 years of age; (2) Have separated from active service with the Elk River Fire Department of the municipality of Elk River and ceased to perforin or supervise fire suppression duties; (3) Have at least five (5) years of active service with such department before retirement; and (4) Have been a member of the Association in good standing at least five (5) consecutive years prior to separation from service, other than time on suspension and approved Leaves of Absence. 6.1.2 Service pension. Because of varying circumstances in each member's retirement planning, optional benefit payment methods are offered. Selection should occur after consultation with a tax consultant, financial planner, or an attorney. Each member meeting the requirements of 6.1.1 shall be entitled to a lump sum service pension. 20 years of service shall be the base service pension. At the time of application for retirement, a qualified member shall be entitled to payments from the Special Fund according to the following tables attached * Refer to Policies of the Board Page 6