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April 2020

AMERICAN BEARING MANUFACTURERS ASSOCIATION, INC.

BY-LAWS

Article 1 - MEMBERSHIP

Section 1. Membership in the corporation is open to:

 

                (A) Primary members, as defined below;

                (B) Associate members, as defined below; and

                (C) Academic Institution members, as defined below.

 

Subsection A – Primary Members - Every bona fide person, firm, corporation (or one or more corporate divisions or subsidiaries carrying on business in the division or subsidiary name), a substantial part of whose business is the manufacture by it in the United States of bearings, or finished components of bearings, who shall subscribe to the purposes of this corporation and shall pay an initiation fee of one thousand dollars ($1,000) upon notification of approval of the application, shall be eligible to membership therein, with full rights and obligations as herein provided.If a membership lapses and application is thereafter made for re-affiliation, the applicant shall pay the required initiation fee before again becoming a member.

 

Subsection B – Associate Member – Every bona fide person, firm, corporation (or one or more corporate divisions or subsidiaries carrying on business in the division or subsidiary name), a substantial part of whose business is or intends to be supplying goods or services to manufacturers of bearings or finished components of bearings in the United States, who shall subscribe to the purposes of this corporation shall be eligible to membership therein, with rights and obligations as herein provided.  Notwithstanding the foregoing, the person, firm, corporation, division or subsidiary shall not be eligible for Associate Membership if it is directly or indirectly controlled by or under common control with a person, firm, corporation or entity that is a manufacturer of bearings or finished components of bearings, unless such person, firm, corporation, division or subsidiary is also directly or indirectly controlled by or under common control with a Primary Member.

Subsection C – Academic Institution Member – Every United States college, university or other secondary institution of higher education, including community colleges and trade schools, shall be eligible for membership.  Such Academic Institution shall pay a reduced initiation fee of seventy-five dollars ($75.00) and upon notification of approval of the application, shall be eligible for membership therein, with rights and obligations as herein provided.

If a membership lapses and application is thereafter made for re-affiliation, the applicant shall pay the required initiation fee before again becoming a member.

 

Section 2. Voting rights are given to all Primary Members.  Associate Members and Academic Institution members have no voting rights on any matters.  The voting rights of each Primary Member at meetings of the corporation shall be on the basis of one vote for each member. Each member shall appoint and certify to the Secretary of the corporation a person or persons from its own organization to be its representative or representatives in the corporation who shall represent, vote and act for the member, and who shall be eligible to hold office in the corporation.

 

Section 3. Any person, firm, corporation, or corporate division eligible for membership under these By-Laws, on making written application therefore, may be elected to membership. For such election, a majority of votes of the entire membership of the Board of Directors shall be required. The Board of Directors may, in its discretion, deny any application for membership if there remain outstanding any unpaid dues or assessments owing by the applicant to the corporation from a prior period during which the applicant was a member.

Section 4. Duration of Membership. Membership in this corporation may terminate by death, dissolution, voluntary withdrawal as herein provided, or otherwise, pursuant to these By-Laws. The right of a member to vote and all other rights, title and interest of the member in or to the corporation, its rights, privileges and property, shall cease on the termination of its membership. Any member may, by giving written notice of such intention, withdraw from membership. Such notice shall be presented to the Board of Directors.  Termination of membership shall not relieve the member of the obligation to pay any dues, assessments, or other charges theretofore accrued and unpaid.

Section 5. Termination of Membership. Any membership may be terminated for cause, including non-payment of dues. Such termination shall be by a two-thirds vote of the entire membership of the Board of Directors, provided that a statement of the charges shall have been delivered to the member at least fifteen days before final action is taken thereon. This statement shall be accompanied by notice of the time and place of the meeting of the Board of Directors at which the charges shall be considered, and the member shall have the opportunity to appear and present any defense to such charges before action is taken thereon.

Section 6. Suspension of Membership Benefits. The benefits of membership are subject to suspension, upon thirty days advance written notice, for non-payment of dues or assessments for a period of 180 days.

Section 7. The corporation may organize within its membership groups of manufacturers making similar products and having common interests, but before any action taken by any such group shall become effective, it shall first have received the approval of the Board of Directors of the corporation.

Section 8. Any statistical report or other statistical information prepared by the corporation shall be distributed to the members of the corporation that have contributed data for inclusion in such report and those companies that do not produce bearings in the categories collected.  Academic Institution members shall not receive  statistical reports or information unless authorized by action of the Board of Directors.


Article II - MEETINGS

Section 1. Annual Meeting. The annual meeting of the members of the corporation shall be held once a year and shall be determined by the Board of Directors at least 30 days in advance thereof. Notice of such meeting shall be sent to each member at least ten days before the time appointed for the meeting.

Section 2. Election of Directors. At such annual meeting to be designated by the Board of Directors, the successors to the directors whose terms shall expire that year shall be elected for a term of three years. Directors shall be elected from a list of nominees reported by the nominating committee and of any individuals who may be nominated from the floor.

The division of the Board into groups upon adoption of this By-Law revision shall be done by the Board.

Section 3. Nominations.

Subsection A – Primary Member Representation.  A Nominating Committee shall be appointed by the Chairman. The list of nominees shall include each officer of the corporation in the group whose term is expiring. If five, or more than five, maximum dues class members are willing to serve on the Board, the Nominating Committee shall nominate those required to bring the number of maximum dues class members on the Board to not less than five.

Subsection B – Associate Member Representation. One additional board member shall be an associate member nominated for a one-year term by the Associate Council from among its members. The election to the Board of such nominee shall be subject to a vote by the membership. Upon election, such nominee shall have all the rights and privileges of a Board member.

Subsection C – Academic Institution members are not eligible to be on the Board of Directors.

Section 4. Other meetings. Other meetings of the members of the corporation may be called by the Chairman or by order of the Board of Directors, at any time, either at the principal office of the corporation or elsewhere, and notice of such meeting shall be delivered by the Secretary to each member at least ten days before such meeting. It shall be the duty of the Chairman to call a special meeting of members upon written request by members of the corporation holding at least twenty-five percent of the total votes in the corporation.

 Section 5. At any meeting of the members of the corporation at which one-fifth of the primary members are represented in person or by proxy, a quorum for the transaction of business shall be declared present.

At any meeting at which a quorum is present action shall be taken by the vote of a majority of those present in person or by proxy, except as otherwise specifically provided.  Members may vote by proxy, in accordance with applicable laws.

Section 6. Action by Ballot. The members may take action without a meeting by casting a vote by ballot.   A ballot may be in paper or in electronic format, such as by e-mail or other on-line format and shall set forth each proposed action.  Approval by ballot shall be valid only when the number of votes cast by ballot equals or exceeds the quorum required to be present at a meeting authorizing the action, and the number of approvals equals or exceeds the number of votes that would be required to approve the matter at a meeting authorizing the action.

Article III - BOARD OF DIRECTORS

Section 1. The property and business of the corporation shall be vested in and controlled by the Board of Directors who shall serve without compensation.

Section 2. The Board shall consist of directors from Primary Members.  The number of directors shall be determined by the Board, provided that the number is not less than seven. They shall be divided into two class, each class to consist of directors whose terms of office expire the same year. There also shall be one director from an Associate Member.

Section 3. The Board of Directors may set up such regulations for its own proceedings and governance as it may deem expedient.

Section 4. The Primary Member Directors shall serve for terms of three years or until their successors are appointed and qualified.  The one Associate Member Director shall serve for a term of one year or until his or her successor is appointed and qualified.  Directors may succeed themselves in office.

Section 5. Meetings of the Board of Directors may be called on four days' notice by the Chairman, the Secretary or any two directors.

Section 6. Any vacancies that may occur in the Board by reason of death, resignation, or otherwise, may be filled by the Board of Directors for the unexpired term.

Section 7. The presence of a majority of directors shall constitute a quorum of the Board.

Section 8.  The act of a majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board of Directors, unless the act of a greater number is required by law or by these Bylaws.


Article IV - OFFICERS

Section 1. The officers of the corporation shall be a Chairman, a Vice-Chairman, a President, a Secretary and a Treasurer.  The Chairman, Vice-Chairman and Treasurer shall be elected annually by the Board of Directors from its membership and shall serve without compensation.  The Board of Directors shall also appoint a President and Secretary who shall serve at the pleasure of the Board. The offices of President and Secretary may be held by the same person.

Section 2. The Chairman shall be the chief executive officer of the corporation and shall preside at all meetings thereof. He shall also serve as Chairman of the Board of Directors.

Section 3. The Vice-Chairman shall perform the duties of the Chairman in the latter's absence.

Section 4. The President shall, subject to the Chairman and the Board of Directors, act as manager of the corporation, manage its central office, perform such services as are customary to that office, and perform such other duties as may from time to time be assigned to him by the corporation or the Board of Directors.

Section 5. The Secretary shall keep the minutes of all meetings of the corporation and the Board of Directors, shall have charge of the records of the corporation and perform such other duties as may from time to time be assigned to him by the corporation or the Board of Directors.

Section 6. The Treasurer of the corporation shall perform such duties as are customary to that office. The Treasurer shall supervise the collection of all dues, the keeping of proper books of account, and render such statements thereof as may be required by the Board of Directors.


Article V – COMMITTEES

Section 1. The Board of Directors may appoint such committees, establish such offices and engage such employees, contractors, and/or counsel as in its judgment may be required for the promotion of the objects of the corporation.

Section 2. The Board may appoint an Executive Committee from its own membership which shall have the power to act as expressly authorized from time to time by the Board, subject to applicable law.

Article VI – DUES & ASSESSMENTS

Section l. Annual dues for members of corporation shall be established by the Board of Directors.

Section 2. The Board of Directors shall have power to levy assessments, payable on notice, to cover extraordinary expenses of the corporation.

Article VII - Amendment

The Certificate of Incorporation of the corporation and/or the By-Laws of the corporation shall be subject to amendment by the members of the corporation upon a vote of majority of those present at any meeting called for that purpose and attended by a quorum, provided the notice of the meeting shall contain a statement of the proposed amendment.

 

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