GENERAL RULES. RULE I. GOVERNMENT AND ELECTIONS. of the Asso SECTION 1. The government of the Board of Government Trade of the City of Chicago, and the control and ciation. management of its Real Estate (including all of the authority and power heretofore vested in the Board of Real Estate Managers), are hereby vested in a How vested. President, two Vice-Presidents and fifteen Directors, who, including the President and Vice-Presidents, shall be known as the Board of Directors, all of Board of whom shall have been members of the Association Qualifications. for at least one year, next preceding their election. The President, one Vice-President, and five Direc tors, shall be elected annually. The President shall Directors. Quorum. hold his office for the term of one year, or until his Term of office. successor is elected and qualified; the Vice-Presidents, in like manner, shall hold their offices for the term of two years, and the Directors, in like manner, for the term of three years. Ten members of the Board of Directors shall constitute a quorum for the transaction of business, but a less number may adjourn from time to time, to any fixed date preceding the next regular meeting of the said Board. Arbitration and SEC. 2. There shall also be elected by the mem- Committees of bers of the Association a Committee of Arbitration Appeals. and a Committee of Appeals, consisting of ten members each, who shall hold their respective offices Term of office. for the period of two years. Five members of each committee shall be elected annually. The qualifica- Qualifications. Annual election. Commence ment of official term. Requirements of an election. Failure to elect. Subsequent trials. Failure to elect, and vacancies. Notice, how published. Tellers of election. Duties. tions for election to either of these committees shall shall, at the same time, be a member of both com- SEC. 3. The annual election for all elective officers not otherwise provided for, shall be held in the Exchange Hall on the first Monday after the second day of January in each year, between the hours of ten o'clock A.M. and two o'clock P.M., and all voting shall be by ballot. The official term of all officers shall commence on the Monday succeeding their election. SEC. 4. For President and Vice-Presidents, a majority of all the votes cast shall be necessary to a choice; but for all other elective officers, a plurality shall elect. SEC. 5. In case of failure to elect any officer voted for on the first trial, another election, in like manner, shall be held on the succeeding day, and if there shall again be a failure to elect, then, upon a third trial, held in like manner, on the day following, a plurality shall elect. SEC. 6. If from any cause an election of officers is not had at the regular annual election, or in case of the death, resignation, or removal of the President, either of the Vice-Presidents, Directors or members of either of the committees of Arbitration or Appeals, it shall be in the power of the Association to fill such vacancies for the remainder of the official term at any regular or special election thereafter; provided, notice of said special election shall have been announced on 'Change at least three days immediately preceding such election. SEC. 7. It shall be the duty of the President, prior to any election to be held by the Association, to appoint or cause to be appointed a sufficient number of tellers, who shall have charge of the ballot boxes and poll lists of the Association, and who shall receive consecutively, and place the same in writing. the ballot box, all ballots of members who shall be in good and regular standing, who shall have paid all dues and assessments. They shall keep a record of all members voting, and opposite each name shall place the number of the ballot deposited by said member. Three of the tellers shall constitute a Quorum. quorum for receiving and recording the votes. No ballot box shall be opened, nor shall any votes be counted, except in the presence of at least four of their number. They shall make all returns in writing to the President of the Association, duly signed Returns in by at least four of their number, and the Secretary shall preserve all the ballots for the period of at oras least one month, for further examination, if the same shall be ordered by the Board of Directors, to May be verify the correctness of the returns of said tellers. examined. SEC. 8. In the hearing or trial of any case or controversy before the Board of Directors, or before any ors or members committee of the Association, no Director and no member of any such committee shall serve or act in such hearing or trial who has any financial interest or concern in the result of such hearing or trial, or who shall be a business partner of any party thus interested. Preservation of ballots. subsequently Disqualifications of Direct of committees. RULE II. DUTIES OF THE PRESIDENT. SECTION 1. It shall be the duty of the President Executive to act as general executive officer of the Association powers. and of the Board of Directors, respectively; to pre- To act as preside at all meetings of either of these bodies, and to siding officer. direct the proceedings of each in accordance with the Rules, By-Laws, and Rules of Order governing the same; he shall have power to call special meetings of To call special the Board of Directors, and of the Association; and meetings. upon the written request of twenty-five members, he Object to be stated. To preserve order in the Exchange Room. Penalty for disorderly conduct. Power to fill vacancies and to appoint committees. shall call special meeting of the Association, which shall be done by causing notice of the same to be publicly announced on 'Change; provided, such request shall state the object for which such meeting is to be called, and is made at least three business. days preceding the said meeting. SEC. 2. It shall be the duty of the President to preserve order and proper business decorum in the Exchange Rooms of the Association during all business hours; and in case any member or other person shall be guilty of any disorderly, boisterous, or offensive conduct while in the Exchange Rooms, he shall for that offense be suspended from the privilege of admission to said rooms for such time as may be determined by the President, subject, however, to appeal to the Board of Directors; but pending such appeal the suspension shall not be enforced. SEC. 3. It shall be the duty of the President to temporarily fill any vacancy which may occur in any appointive office of the Association, and to appoint all committees whose appointment is not otherwise provided for. RULE III. VICE-PRESIDENTS— DUTIES. First and second VicePresidents. Respective duties. SECTION 1. The Vice-President serving upon the last year of his official term shall be the first VicePresident, and the Vice-President serving upon the first year of his official term shall be the second VicePresident. It shall be the duty of the Vice-Presidents, respectively, in this order, to perform the duties of the President, in case of his absence or disability. RULE IV. POWERS AND DUTIES OF THE BOARD OF DIRECTORS. financial how managed. SECTION 1. All the business and financial con- Business and cerns of the Association shall be managed and con concerns, ducted (in accordance with the Charter, Rules, Regulations, and By-Laws of the Association) by or under the direction of the Board of Directors. of officers and of officers and SEC. 2. The Board of Directors shall, on the Tuesday succeeding each annual election, or as soon thereafter as may be practicable, appoint a Secretary, an Appointment Assistant Secretary, a Treasurer and such Inspectors, employes. Gaugers, Weighers, Measurers, and other officers, clerks, assistants, and employes as they may consider necessary for the purposes of the Association, and they may establish such regulations for the direction Compensation and government of such appointees as they may think appointees. proper; and may fix their compensation, and deter- Terms of mine by whom the same shall be paid. The term officers. of office of all such appointees shall commencé on the Tuesday succeeding their appointment, or at such other time as the Board of Directors may designate, and shall continue for one year, or until their successors are appointed and assume their duties; but all such appointments shall be revocable at the will Appointments and pleasure of the said Board. appointed revocable. SEC. 3. The Board of Directors may require of all Oath of office. appointees an oath to well and faithfully perform all and singular the duties of their office, and a good Bonds. and sufficient bond to secure such performance. meetings of SEC. 4. The Board of Directors shall hold stated stated meetings every Tuesday, except when Tuesday shall Directors. fall upon a legal holiday, in which case the meeting for that day may be omitted. SEC. 5. The Board of Directors shall cause to be Announcement. of appointannounced on 'Change all appointments of public ments and concern which they shall make, and all revocations. revocations. |