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7 <br /> Adopted by the UNRBA Board of Directors Feb. 16,2011 <br /> Membership dues for services provided shall be determined as follows: <br /> 1. Dues. Members shall pay annually to the Association an amount in accordance with the <br /> current dues formula attached as Appendix A. <br /> 2. Dues Proration for New Members. New Members joining after July 1 of any year shall pay <br /> prorated dues for their first year of membership based on the number of quarters of such year <br /> in which they were a Member. <br /> 3. Dues Changes. The Board of Directors shall determine what, if any, changes shall be made in <br /> the dues formula effective as of July 1 during subsequent years. Any changes made to the <br /> dues schedule will be reflected in Appendix A. <br /> Special assessments may be made for undertaking special initiatives or projects from time to <br /> time subject to approval of the Directors. No special assessment will be due and payable for 180 days <br /> unless it is approved unanimously by all of the Directors in attendance at a properly noticed and called <br /> meeting at which a quorum of the Directors is present. <br /> The fiscal year of the Association shall end on June 30 of each calendar year unless <br /> otherwise determined by the Board of Directors. <br /> ARTICLE VI—APPLICATION AND USE OF FUNDS j <br /> Revenues received by the Association shall be held in an account (or accounts) in the name of <br /> the Association in such location(s) as may be designated by the Board of Directors. The Association <br /> shall hold, manage, invest and reinvest its funds in accordance with the investment policies of the <br /> Association and shall collect and receive the income therefrom. After deducting all necessary expenses <br /> incident to the operation and administration of the Association, such funds shall be utilized in <br /> accordance with the purposes set forth in these Bylaws and the Articles. The Board of Directors may <br /> establish a committee of Directors for the purpose of supervising and managing investments. All such <br /> revenues received and held by the Association shall be distributed to such persons and in such amounts <br /> as the Board of Directors of the Association shall deem appropriate in keeping with the purposes of the <br /> Association. <br /> The Association shall be solely responsible for the application and use of its assets, including <br /> payment of its expenses in accordance with such operating guidelines as may be established by the <br /> Board of Directors, and shall operate as an independent and autonomous entity for the purposes of <br /> meeting its financial obligations. <br /> Notwithstanding any other provision of these Bylaws, no expenditure shall be made in any <br /> manner or for any purpose whatsoever that may jeopardize the status of the Association as an <br /> organization under Section 501(c)(3) of the Internal Revenue Code and the regulations thereunder. <br /> ARTICLE VII—BOARD OF DIRECTORS <br /> 7.1. General Powers. The business and affairs of the Association shall be managed under the <br /> direction of its Board of Directors, which is vested with the powers and authority to do and perform all <br /> 3 <br />