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MINNETONKA POWER SQUADRON BYLAWS Page 22 Section 11.06 The Educational Officer and the Assistant Educational Officer, if any, are Officers of the USPS Educational Department, and shall be nominated by the Nominating Committee and elected by the Active Members of the Squadron only after their qualifications have been approved by the Director of Education or his designee. ARTICLE XII MISCELLANEOUS Section 12.01 Any person collecting monies for any activity of the Squadron shall be prepared at all times to make a full and complete accounting of the same to the Commander and to the Executive Committee. Section 12.02 No officer or Member shall contract any bills in the name of the Squadron unless previously authorized by the Executive Committee or by the approved budget. Section 12.03 When any account authorized by the Executive Committee or by the approved budget is closed, the excess funds therein shall be turned over to the Treasurer at once with a complete accounting. Section 12.04 No Member shall commercialize any USPS activity for his personal gain or renumeration, either directly or indirectly. Section 12.05 The fiscal (business) year of the Squadron shall be for twelve (12) consecutive months beginning on 1 December and ending on the last day of November. Section 12.06 All publications or notices of any nature issued by the Squadron shall have the prior approval of the Commander or Executive Committee before being sent to Members or to the public. ARTICLE XIII DISCIPLINE Section 13.01 Hatters of discipline shall be considered and handled in accordance with the policy and authority of USPS. -22- MINNETONKA POWER SQUADRON BYLAWS Page 23 ARTICLE XIV RULES AND REGULATIONS: INSIGNIA AND FLAGS Section 14.01 Flags, uniforms, insignia, and all other matters of etiquette shall conform to the policy and authority of USPS. ARTICLE XV SQUADRON PUBLICATION Section 15.01 The official publication of the Squadron shall be known as "TonkaNAUTS," ARTICLE XVI DISTRIBUTION OF ASSETS AFTER TERMINATION Section 16.01 No Member of the Squadron shall have, as an individual, any interest in or title to the assets of USPS, of any District, or of the Squadron; and such assets shall be devoted exclusively to the purposes of USPS, the District, and the Squadron, Section 16.02 In the event of dissolution and voluntary surrender or revocation of the Squadron's Charter, all assets then belonging to the Squadron shall be assigned to USPS or to an organization which qualifies for tax exemption (under Section 501(c)(3) of the Internal Revenue Code of 1954, as from time to time amended, and any rules and regulations promulgated thereunder; or such other Section of the Code by which USPS is exempt) as selected by the Executive Committee or other comparable body of the Squadron. If no such body exists or no selection is made, the assets of the Squadron shall be assigned to USPS. ARTICLE XVII AMENDMENTS Section 17.01 These Bylaws may be amended, or new Bylaws enacted, subject to the approval of the Governing Board of USPS or its designee, by a two-thirds (2/3) vote of the Active Members present and voting at any regular or special meeting of the Squadron, provided that a quorum is present at the time the vote is taken; M!Q (a) the proposed amendments or new Bylaws are -23-