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CHAPTER III: FINANCIAL RESOURCES

Article 12 Financial Principles

EUGIN will be run on a non-profit and low financial risk basis and will not incur debt without the prior approval of the Council.

 

Article 13 Financial Resources

The financial resources of EUGIN consist of:

-      The initial admission fee payable by the Members Institutes;

-      An annual membership fee;

-      Settlements of grants and donations which the law allows;

-      Income from the goods or assets of EUGIN;

-      Income from other activities authorised by Council.

 

Article 14 Admission Fee

The amounts of the admission fee and of the annual membership fee are determined by the Council and payable in Euros.

 

Article 15 Exceptional Fees

By decision of the properly constituted General Assembly, an exceptional fee may be charged on all Executive Members. Such a decision must be made unanimously.

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