****** Page 1 ****** Operating Procedures (DRAFT) ____________ Investment Club/Group Partnership Agreement: All Operating Procedures will be consistent with the Partnership Agreement. Amendment of Procedures: These Operating Procedures may be amended by a majority vote of the partners voting at any regularly scheduled or called meeting of the partnership. Notice of the intended change or amendment shall be given in writing not less than ten days before such meeting to each of the partners. Officers: Annually at July meeting partners shall be elected by a majority vote of one vote each to the following positions and duties: President - Duties are to preside over meetings, notify members of meetings and other activities, and see that resolutions passed by the partnership are carried out. Vice President - Duties are to take the place of the President when absent or incapacitated. Shall assign partners to report on securities for Club meetings. Shall keep records of meetings and of actions authorized by the partners. Treasurer - Duties are to keep a record of the Club's receipts and disbursements and members' interests in the Club. Prepare the Club's monthly valuation of partners' accounts, not more than ten days prior to each monthly meeting. Deposits: Each partner shall deposit into their individual account, on or before each scheduled monthly meeting, the sum of Twenty—Five Dollars ($25.00). Meetings: The Club shall hold a meeting on the fourth Wednesday of every month. Notice of each meeting shall be given by the President at least one week before the meeting. ****** Page 2 ****** Selection of Investments: The Vice President shall appoint at least one partner at each meeting to prepare a report on a security for presentation to the membership at the following meeting. The appointed member(s) shall be responsible for selecting a security, with the advice of the Vice President. It is the intent of the partnership that selection of investments be made in a humane and ecologically sensitive framework. Monitoring Investments: The Treasurer shall present a monthly overview of the aggregate holdings of the partnership and their performance. Attendance: Each member is expected to attend all regular meetings and may be subject to termination for missing two or more meetings without providing prior notification, i.e., illness or out of town. Guests: Partners may invite guests to any meeting of the Club. When consideration is given to adding partners to the Club as specified in the Partnership Agreement, anyone considered must have been a guest at one prior meeting at least.