BYLAWS OF THE INSURANCE AUDITORS ASSOCIATION OF THE CENTRAL STATES

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AS AMENDED 8/14

 

 

 

ARTICLE I - NAME

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Section I:          This Association shall hereby be known as THE INSURANCE AUDITORS ASSOCIATION OF THE CENTRAL STATES.

 

 

ARTICLE II - PURPOSE

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Section I:         To provide a forum for the exchange of technical information.

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Section II:         To contribute to the insurance industry the knowledge and experience of the professional insurance auditor.

 

Section III:       To provide and maintain ethical standards of conduct and professionalism.

 

Section IV:       This Association will not involve itself in any type forum for the purpose of bargaining with the employers of its membership.

 

Section V:        This Association will not permit discussion at any meeting or sanctioned function of the Association of confidential information pertinent to any insurance company, insured, local or national insured association.

 

Section VI:      To promote N.S.I.P.A., (National Society of Insurance Premium Auditors).

 

Section VIl:     To promote and support local chapters of the Insurance Auditor's Association of the Central States.

 

ARTICLE III - FISCAL YEAR

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Section I:         The business year of the Insurance Auditors Association of the Central States (the 11Association") shall be from July I through June 30.

 

 

ARTICLE IV - MEMBERSHIP

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Section I:         Association membership shall be open to all insurance premium auditors and premium audit personnel from both insurance carriers and independent service companies.

 

Section II:        A member of good standing may bring in his/her company guests for the seminar portion of the meeting; however, said guest shall not be allowed voting privileges at the business meeting.

 

Section III:       All members in good standing at time of retirement from employment shall be considered as members in good standing with all Association rights and privileges. Members as indicated in this section will not be required to pay dues. Upon retirement, members will have 60 days to notify IAACS, in writing or by email, if they desire to remain on the mailing List.

 

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ARTICLE V - DUES

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Section I:        The amount of annual dues for each fiscal year shall be established by a majority vote of those members present at the Annual Meeting prior to said fiscal year.

 

 

Section II:       The annual dues for each member shall be payable to the regional Treasurer by October I of the business year.

A)    Local Associations shall pay membership dues based on their active roster as of June 30th of the proceeding business year. In the event that an active Local Association is not available within a I 00-mile radius, an individual may pay dues directly to the regional Treasurer.

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​B)    The regional Treasurer shall bill the local Association by September 1. Payment shall be due as of October 1.​

 

C)    Local Associations shall be considered delinquent if dues are not paid by October 1.

 

D)    Status of delinquent chapters will be reviewed for appropriate action at the Annual Board Meeting.

 

Section III:         Addendum

A) Due to COVID19’s stay at home mandates a motion was put before the members to eliminate dues for the 2020/2021 fiscal year. The motion passed 45 to 7 on October 23, 2020.

B) Dues payable to the regional treasurer on October 1, 2021 will be $0

 

 

ARTICLE VI - MEETINGS

 

 

Section I:       The Annual Seminar Meeting of the Association shall be held prior to the end of the fiscal year; each May or at such other time as fixed by the Board. If approved by the board, the Annual Seminar Meeting may be held after the end of the fiscal year, but before October 15th following the end of the fiscal year.

 

A)    This meeting shall be scheduled so as not to conflict with the testing schedules of the Insurance Institute of America or the Chartered Property and Casualty Underwriters.

 

B)    A written or electronic request shall be submitted to the Board prior to the end of the current or previous fiscal year, to request "such other time".

 

C)    Such request shall be decided upon by the Board at either the semi-annual Board meeting, the annual Board meeting or Special Meeting of the Board.

 

D)    At no time shall the Annual Seminars be held less than 7 months apart nor shall there be more than one seminar per calendar year.

 

 

Section II:        One year prior to their sponsored convention, the host chapter shall submit a tentative guideline of their program to the Executive Board of the Association for approval.

 

Section III:      Reservation packets (including seminar and lodging fees and a program listing) shall be mailed or electronically transmitted by the host chapter at least 90 days prior to the beginning date of the seminar. The packets shall be mailed or electronically transmitted to each member of the Association individually (with spare packets being mailed to each local chapter) OR by bulk mailings.

 

Section IV:       Upon written or electronically transmitted request, seed money (in an amount to be determined by the Board) will be provided to the host chapter up to two years prior to the Annual Seminar Meeting being sponsored. A signed agreement indicating the host chapter's acknowledgment that this seed money must be repaid (along with any profits as prescribed by the Bylaws) will be required. Any extraordinarily large amounts requested (over $500) must be accompanied by supporting documentation.

 

Section V:       Profit and loss resulting from the chapter hosting the Annual Seminar Meeting shall be limited to the following:

 

A)   Profits over $1,000 after all expenses shall be turned over to the regional Treasurer.

 

B)   Losses up to $1,000 shall be reimbursed to the local chapter by the regional Treasurer.

 

C)   Losses over $1,000 shall be the responsibility of the chapter hosting the Annual Seminar Meeting.

 

D)   A financial report to the regional Treasurer will be due within 90 days after the convention from the hosting chapter with the above financial adjustment made at that time.

 

ARTICLE VII - OFFICERS

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Section I: The officers of this Association shall be President, Vice President, Secretary and Treasurer.

 

A)    These officers shall perform the duties prescribed by these Bylaws and by parliamentary authority adopted by this Association.

 

B)    Within 30 days following the Annual Seminar, a list of the duly elected officers and directors and their contact information shall be electronically transmitted to the President or Liaison of each local chapter of the Association.

 

Section II:  The four officers shall constitute the governing body and shall serve a term of one (1) year beginning July l through June 30.

 

A)     No elective officer shall hold more than one (1) office concurrently.

 

B)     The offices of President, Vice President and Secretary cannot be held by the same individual for more than two consecutive terms. However, the office of Treasurer can be held by the same individual for an unlimited number of years as long as the Board and the Members of the Association elect the Treasurer by majority vote.

 

C)     No person shall be nominated who, if elected, would cause the Board to be comprised of more than two persons employed by the same company or affiliated group of companies. Additionally, if two officers are from the same company, then these two officers shall not be members of the same local chapter.

 

D)   Article VII, Sec. II-C shall not apply to officers who change employers or change their chapter affiliation during their elected term.

 

Section III:       The President shall preside at all meetings and his/her duties shall be those usually pertaining to this office.

 

A)        In the absence of the President, the Vice President shall preside at the meeting and take over any duties of the President at that time. In case neither is present, then the Chairman shall be the Secretary or Treasurer, in that order.

 

Section IV:     The Vice President shall be responsible for monitoring the Annual Seminar development and shall report to the Executive Board as required. Insure the distribution of the registration packets no later than 90 days prior to the Annual Meeting.

 

Section V:       The Secretary shall take care of all correspondence, take the minutes of the meetings, prepare and submit any reports demanded of this office. Said minutes of all meetings to be distributed to each local Association within 30 days.

 

Section VI:      The Treasurer shall be responsible for all finances of the Association, and keep a roster of paid members. The Treasurer shall prepare a fiscal YTD financial statement for presentation at the Annual Meeting of the Executive Board and the Annual Business Meeting. The Treasurer shall prepare a fiscal year-end financial statement and mail it to the new treasurer for presentation at the Semi-annual Meeting of the Executive Board.

 

Section VII:     The Vice President shall become President, if the office of President becomes vacated. Any vacancy among the other offices shall be filled by appointment by the Executive Board. The Executive Board shall be bound by all provisions of these Bylaws in making any appointments.

 

Section VllI: The President, upon expiration of his/her term, shall become also a member of the nominating Committee of the National Society of Insurance Premium Auditors (NSIPA). This person shall act as the Regional Representative to the NSIPA Nominating Committee for two years. If unable to complete the full term on the Committee, the President shall appoint a person to so serve.

 

 

ARTICLE VIII - EXECUTIVE BOARD

 

Section I:         The officers of the Association, including the Directors, shall constitute the Executive Board.

 

A)    The Executive Board shall consist of the two immediate past Presidents - now known as Directors, the four current elected officers, the Financial Director and the Database Coordinator.

 

B)    Each Director shall serve a term of two years unless otherwise stated herein above.

 

Section II:       The Executive Board shall have supervision of the affairs of the Association between its business meetings, to pick the date and location of the Annual Meeting, make recommendations to the Association and shall perform such other duties as are specified in the Bylaws.

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Section Ill:      There shall be at least two regular meetings, one to be held in connection with the Annual Meeting and another before December 1. Special meetings of the Board can be called by the President or a majority of the Executive Board members.

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Section IV:      In the event a position becomes vacated, causing a reduction of the members of the Executive Board, the open position shall be appointed by the President of the Association with Executive Board approval for the remainder of the term. The President in his/her appointment of this office, shall be bound by these Bylaws.

 

Section V:       The Financial Director will be an appointed position by the Executive Board. The Financial Director will be responsible for maintaining the financial wellbeing of the Association and handling of all filings as relate to the Association's taxes of non-profit status.

 

Section VI:      The Database Coordinator will be an appointed position by the Executive Board, at the Annual Board Meeting. The Database Coordinator will be responsible for maintaining a membership database of all the Association members, containing mailing addresses and other pertinent information, and for updating the Officer' s & Director's Handbook. The Database Coordinator will use this database to provide mailing labels to the local associations upon request and to provide nametags and a mailing list to the host chapter of the Annual Seminar Meeting upon request.

 

ARTICLE IX - NOMINATION AND ELECTION OF OFFICERS

 

Section I:         The Nominating Committee shall meet prior to the end of the fiscal year. The meeting may be held by conference call, if desired. The Committee shall consist of one representative of each local Association, and shall adopt a slate of candidates from the nominations presented.

 

Section II:        The nominees shall be presented to the membership either by email or at the Annual Business Meeting. Additional nominations shall be accepted by write-in vote or from the floor. Officers shall then be elected by ballot sent by email prior to the end of the fiscal year or by vote of the membership at the Annual Business Meeting.

 

Section III:       A nominee shall be considered elected when receiving a majority of the member's votes. Section IV:     The newly elected officers shall assume their duties effective July 1.

 

ARTICLE X - AMENDMENT OF BYLAWS

 

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Section I:          The Bylaws of the Association can be amended at the Annual Meeting by a two-thirds vote of the membership, provided:

 

A)    That said amendment has been submitted in writing or electronically to the Secretary of the Association 60 days prior to the Annual Meeting and to each local Association 30 days prior to the Annual Meeting.

 

B)     That the Bylaws Committee will agree to accept, reject, and/or modify the proposed amendment. No new amendment proposals may be brought before the committee. Those amendment proposals that have been accepted will be presented by the committee at the annual meeting.

 

Section II:            The Bylaws Committee shall meet one day prior to and in connection with the Annual Business Meeting. The committee shall consist of one representative of each local Association.

 

ARTICLE XI - JAMES BOUTRESS AWARD

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The James Boutress Award is to be presented from time to time at the annual meeting of the association. The award recognizes the achievements of an individual who has served the Premium Audit profession above and beyond the call of duty. Candidates who meet or exceed the award qualifications may be nominated by a local IAACS chapter in accordance with the award rules and guidelines. The award qualifications, rules, and guidelines will be maintained by the association and will be reviewed from time to time. Copies will be provided to each IAACS local chapter every year, 90 days prior to the annual meeting.

 

ARTICLE XII - PARLIAMENTARY AUTHORITY

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The Association shall adhere to Robert's Rules of Order, newly revised, except as otherwise not inconsistent with these Bylaws and special rules the Association may adopt.

ARTICLE XIII - STAFF MEMBERS

 

Section I:         The Executive Board may employ under contract a management company. Said Management Company shall receive such remuneration as the Board may determine and shall serve at the pleasure of the Board in accordance with the provisions of the employment contract. A representative of that management company will be known as The Executive Director.

 

Section II:        The duties of the Executive Director shall be as provided in the management contract.

 

Section Ill:       The Executive Board may, from time to time, authorize the Executive Director to appoint or employ other staff members as the requirements of the Association may dictate. Such appointees shall be under supervision and direction of the Executive Director who will present a written job description to the Executive Board for approval.

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ARTICLE XIV - LOCAL CHAPTER SUPPORT

 

Section I:          The Association may provide financial support to local chapters for other events not described in Article VI - Meetings.

 

Section II:        No more than one request for funding will be granted per fiscal year per local chapter.

 

Section Ill:      Financial support will be provided on an as-needed basis provided:

 

A)     The local chapter submits a written request for financial aid to increase the value of the organization (i.e. speakers, education, etc.). The request will include:

 

1. Purpose

2. Expected impact to the organization

3. Proposed budget outlining financial details

 

B)    The local chapter will submit an article for publication in the Central States newsletter providing the details of the event.

 

C)    Following the event, the local chapter will submit a full accounting of the use of the funds.

 

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