Bear GIF Arrow and Title: Peaks and Valleys Investment Group GIF Bull GIF


Article 1: NAME
1.1 This Group shall be known as PEAKS & VALLEYS INVESTMENT GROUP.
1.2 The Group was founded in October, 1995.
Article 2: PURPOSE
2.1 To make money.
2.2 To invest surplus funds regularly for long term growth.
2.3 To learn and engage in investment techniques and principles.
2.4 To enable members to invest mutually.
3.1 Officers:
3.1.1 The Groupís officers shall include a President, a Vice President, a Secretary, a Treasurer, and a Board of Directors.
3.1.2 The Officers shall be in office until he/she decides to resign.
3.1.3 If a position becomes vacant, a new executive member shall be appointed to fill the vacancy.
3.2 Duties of the Officers:
3.2.1 The President shall preside as Chairperson at meetings, appoint committees as needed, and oversee Group activities.
3.2.2 The Vice-President shall assume the duties of the President when the President is absent or temporarily unable to serve, and shall carry out those functions as may be delegated by the President from time to time.
3.2.3 The Secretary shall keep a record of the Group meetings, report on previous meetings, maintain an attendance record and contact membership as required. The Secretary will handle the mailing of meeting minutes to the members. It will also be the duty of the Secretary to keep an up-to-date guest registry.
3.2.4 The Treasurer shall collect and disburse funds, maintain a record of the Groupís financial operations and assets as well as a record of each membersí shares and prepare monthly and annual statements of the Groupís net asset value. If required by a 2/3 majority vote, the Treasurer will arrange for the Groupís records to be audited. The Treasurer will also make records available to any member in good standing of the Group at reasonable times and upon reasonable notice.
3.2.5 The following people have cheque signing authority for PEAKS & VALLEYS INVESTMENT GROUP.

Mike Steciuk, President
Rick Holod, Treasurer
Warren Koss, Secretary
4.1 Application for membership shall be made in writing to the President or Secretary. The Secretary shall maintain an application list.
4.2 A 75% majority vote of the executive is required for the admission of new members.
4.3 The President, or any member in good standing, may propose the expulsion of any member from membership and/or elected office for any offense detrimental to the objects of the Group.
4.4 A member may resign by giving the Secretary a written notice at least 60 days prior to that time.
  • His or her shares shall be valued in accordance with the net asset value basis at the time of resignation.

  • Liquidation of the shares, or purchase of the memberís interest shall be decided by a 75% majority vote of the members present at the monthly meeting and in accordance, with any buy/sell policy then in effect.

  • If the Group incurs any commission or related charges due to a member cashing out, all fees will be deducted from the amount being paid back.

  • Any withdrawl fees are subject to executive approval.
4.5 Any person will not be considered a new member of PEAKS & VALLEYS INVESTMENT GROUP until they have read, agreed to, and signed this Charter & Constitution, and have signed all necessary forms at the brokerage firm in which the Investment Groupís assets are being held.
4.6 All members are responsible for their pro-rated portion of any outstanding debt, in the event that the brokerage firm of choice issues a margin call.
Article 5: MEETINGS
5.1 Meetings shall be called one month in advance via a newsletter. For the most part, only executive members are required to attend, however we encourage all members to attend.
5.2 The January meeting shall be designated as the Annual meeting.
5.3 A quorum at each meeting shall consist of the members personally present or represented by proxy, and include at least one executive officer. A majority vote will be determined as outlined in this document. Proxy forms will be available for members to sign.
5.4 One officer must be present at the monthly meeting, otherwise no changes (buy / sell) of any stock or bond position may occur.
6.1 Contributions:
6.1.1 Initially, the value of one investment unit shall be $50.00.
6.1.2 Subsequently, new members will purchase units on a net asset value basis (current value of shares and cash held).
6.1.3 Founding investment is whatever the new member wishes to invest.
6.1.4 Each monthly contribution is paid to purchase shares in the portfolio of the Group. The number of shares each contribution purchases each month is determined on the net asset value basis.
6.1.5 Valuations shall occur to determine the net asset value on the last business day of that month.
6.1.6 To further enhance the profitability of the Investment Group, each member is asked to make a monthly contribution, if at all possible.
6.2 Voting Procedures:
6.2.1 The Chairperson shall determine the voting procedures to be followed on any business, but the Chairperson shall not have a second or deciding vote in the event of a tie. The deciding vote shall not be less than 51% of all votes present or represented by proxy.
6.2.2 The Treasurer shall confirm the number of shares held by each member as of the last evaluation statement.
6.2.3 Proxies shall be accepted for voting in written form only and will remain the property of the Group. Official proxy forms are available from the Executive.
6.2.4 Every active member has one vote for himself or herself and one vote for each member appointing him or her as proxy regardless of shares owned.
6.2.5 No member may vote for more than one proxy unless first cleared by the President or Vice President.
7.1 Investments shall be in equity securities, providing that a minimum of 75% of the total value of remaining assets be in cash and/or short-term deposits (less than 3 months to maturity).
7.2 No new investments will occur should the margin exceed 20% of the total value of assets. All new deposits will be held in cash and/or short-term deposits until the margin percentage falls below 20%.
7.3 All group earnings (dividends, interest, and option premiums) shall be reinvested during the first 5 years of the Groupís existence.
7.4 The assets of the Group shall not be pledged as security or collateral for any loan.
7.5 Any stock holding that is in a positive cash position (after commission charges) will be voted on to have a ĎSTOP-LOSSí order placed on the stock.
7.6 The long term goal of the Group is to hold 10 to 15 core holdings and to accumulate stock when the prices fall (Valleys), and to sell the position (for a profit) when the prices rise then start to fall (peaks).
8.1 The PEAKS & VALLEYS INVESTMENT GROUP shall not be terminated by withdrawal or demise of any member.
8.2 Members may hold their membership jointly with their spouses. Joint membership shall only constitute one vote, with such vote being made by the member, and not the spouse. Only one member per joint membership shall be designated an active voting member.
8.3 Every memberís individual contributions shall be maintained as a single monetary entity constituting one and not more than one vote within the group.
8.4 In the event of the demise of a member not holding his or her shares jointly with his or her spouse, those shares shall be liquidated (as soon as reasonably possible following the date of death) and the proceeds placed in a separate bank account for distribution to his or her estate.
8.5 Should a cheque be returned NSF, the member whose cheque was not in good standing will be required to pay all associated costs, which will be deducted from the memberís holdings.
8.6 The voting will be done by the members present at the current meeting and those represented by proxy only. The percentage required for any decision vary depending on the decision required. The percentages required are outlined in this document.
9.1 This constitution may be amended by a 75% majority vote at the Groupís meeting.

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