Statutes of “Baltic Economic Association”
1. The name of the association
1.1. The name of the association is “Baltic Economic Association”, short name is “BEA” (hereinafter – ASSOCIATION).
2. The objectives of the ASSOCIATION
2.1. The objectives of the ASSOCIATION are:
2.1.1. to contribute to the development and application of economics as a science in the Baltic States;
2.1.2. to develop personal contacts and to promote joint scholarly research and intellectual exchange between economists of the Baltic States;
2.1.3. to support the professional development and international visibility of Baltic States economists;
2.1.4. to contribute to the development of the Baltic Journal of Economics (hereinafter – BJE).
3. The activities of the ASSOCIATION
3.1. In order to fulfil the objectives mentioned in paragraph 2.1. of these Statutes, the ASSOCIATION shall perform the following activities:
3.1.1. to organize the annual Baltic Economic Conference (hereinafter – BEC);
3.1.2. to organize other workshops, including PhD and specialized workshops;
3.1.3. to distribute the information about main activities related to the economic research field in the Baltic States, including information on
conferences, seminars and PhD courses.
4. The due date of the ASSOCIATION
4.1. The ASSOCIATION is established for an indefinite period of time.
5. Membership provisions
5.1. The are two categories of members in the ASSOCIATION:
5.1.1. members (hereinafter – INDIVIDUAL MEMBERS);
5.1.2. institutional members.
5.2. Any adult natural person can become an INDIVIDUAL MEMBER of the ASSOCIATION if it wishes to act according to the objectives of the
ASSOCIATION.
5.3. Any legal person registered in Baltic States can become an institutional member of the ASSOCIATION if it wishes to materially support the ASSOCIATION and act according to the objectives of the ASSOCIATION. Each
institutional member of the ASSOCIATION appoints its representative for an indefinite term. The representative of the institutional member becomes the INDIVIDUAL MEMBER of the ASSOCIATION.
5.4. To become a member of the ASSOCIATION it is necessary to submit an application to the Board. The form of the application and the list of submitted
documents is determined by the Board.
5.5. The Board decides on the membership of the new member according to the set of rules that may differ by categories of members. The application should be considered during the earliest Board meeting, but not longer than in two months after the receipt of all necessary documents. The applicant should be informed about decision of the Board no later than one week after the decision was made.
5.6. The applicant has the right to appeal the negative Board’s decision to the General Meeting. If the General Meeting rejects the appeal, the applicant does not become the member of the ASSOCIATION.
5.7. The membership of the ASSOCIATION is related to membership fee that may differ by categories of members.
5.8. A member has the right to withdraw from the ASSOCIATION at any time by submitting an application to the Board. A member has no rights to claim on paid fees after the withdrawal from the ASSOCIATION.
5.9. A member can be excluded from the ASSOCIATION by a resolution of the Board if he/she:
5.9.1. does not pay the membership fee by the time determined by the Board;
5.9.2. does not fulfil the decisions of the Board or the General Meeting;
5.9.3. does not act in compliance with the statutes of the ASSOCIATION;
5.9.4. has provided false information by intention while becoming a member.
5.10. The question about the exclusion from the ASSOCIATION should be considered during the earliest Board meeting, inviting the excluded member or his/her representative to the meeting in order to provide him/her the opportunity to express own view. If excluded member or his/her representative does not attend the Board meeting, this should not be seen as an obstacle for the decision about the exclusion. The excluded member should be informed about decision of the Board not later than in five days after the decision was made.
5.11. In case of exclusion, the excluded member of the ASSOCIATION has the right to appeal the Board’s decision to the General Meeting of the ASSOCIATION and to demand the repeal of the exclusion decision by the General Meeting.
5.12. The membership rules are suggested by the Board and approved by the General Meeting. Any modification of membership rules should receive the approval of at least two third of the votes during the General Meeting to come in force.
5.13. The amount of membership fees and the order of payment is suggested by the Board and approved by the General Meeting.
5.14. The Secretary of the Board manages the record of the members of the ASSOCIATION.
6. Branches of the ASSOCIATION
6.1. The General Meeting can decide to establish territorial branches of the ASSOCIATION or other branches.
6.2. The General Meeting of the ASSOCIATION approves the regulation of the ASSOCIATION’s branch that regulates the activity, rights and obligation of the branch.
7. Rights and obligations of members
7.1. INDIVIDUAL MEMBERS have the right
7.1.1. to participate and vote in the General Meeting;
7.1.2. to be elected to the Board of the ASSOCIATION or other bodies;
7.1.3. to participate in the annual BEC;
7.1.4. to receive information about the activities of the ASSOCIATION;
7.1.5. to use the other rights provided by the Statutes.
7.2. Institutional members have the right
7.2.1. to delegate their representatives to the Advisory Board;
7.2.2. to attend the Board meeting through their representatives;
7.2.3. to participate in the annual BEC through their representatives;
7.2.4. to receive information about the activities of the ASSOCIATION;
7.2.5. to use the other rights provided by the Statutes.
7.3. Members are obliged:
7.3.1. to comply with the statues of the ASSOCIATION and resolutions of the Board and the general meeting of the ASSOCIATION;
7.3.2. to support the activities of the ASSOCIATION in order to fulfil its objectives;
7.3.3. to pay the annual membership fee by the time determined by the Board without delay;
7.3.4. to announce the Board about any changes of his/her contact information;
7.3.5. to avoid behaviour that may taint the reputation of the ASSOCIATION.
8. The general meeting
8.1. The highest body of the ASSOCIATION is the General Meeting.
8.2. All members of the ASSOCIATION can participate in the General Meeting.
8.3. All INDIVIDUAL MEMBERS of the ASSOCIATION have one vote in the General Meeting.
8.4. The General Meeting of the ASSOCIATION is annual and takes place during the BEC:
8.4.1. to draw up a plan of activities;
8.4.2. to elect the members of the Board and to approve the Auditor of the ASSOCIATION.
8.5. To convene a General Meeting the Board is obliged to send to each member an announcement by email at least two weeks before the General Meeting, stating the meeting time, place and agenda. The Board has to convene an extraordinary General Meeting if requested by at least 1/10 of INDIVIDUAL MEMBERS of the ASSOCIATION in writing indicating the reason.
8.6. The General Meeting is competent:
8.6.1. to elect and to recall the members of the Board;
8.6.2. to approve the Auditor of the ASSOCIATION;
8.6.3. to approve the membership fee and the membership rules;
8.6.4. to amend the Statutes of the ASSOCIATION.
8.7. The General Meeting has a quorum if more than thirty percent of the INDIVIDUAL MEMBERS participate or are represented according to paragraph 8.8. in the General Meeting.
8.8. Each INDIVIDUAL MEMBER has the right to give a written authorization to another INDIVIDUAL MEMBER of the ASSOCIATION to participate and vote in the General Meeting. Each INDIVIDUAL MEMBER can be delegated no more than one vote of another INDIVIDUAL MEMBER.
8.9. A resolution of the General Meeting is adopted if over one-half of the votes cast are in favour of the resolution. To amend the articles of the Statutes, to decide on the termination or continuation of the ASSOCIATION activities, or to amend the membership rules, the consent of at least two thirds (2/3) of the votes is required.
9. The Board
9.1. The ASSOCIATION has a Board that is the executive body of the ASSOCIATION. The Board consists of six members who have to be legally competent natural persons and INDIVIDUAL MEMBERS of the ASSOCIATION. Representatives of the institutional members cannot become Board members.
9.2. Each member of the Board has the right to represent the ASSOCIATION.
9.3. The members of the Board are elected by the General Meeting that takes place during the BEC. The term of the member of the Board starts on the next day of the current BEC and ends on the last day of the BEC that is organized after three years.
9.4. Board member candidates can be appointed by the Board, the Advisory Board, or at least five INDIVIDUAL MEMBERS. Candidates shall be appointed at least two days before the General Meeting, notifying the Board via email.
9.5. There are two rounds of voting if there are more than two candidates for a vacant position in the Board. The two candidates that received the largest number of votes participate in the second round of the voting, if no one received more than half of the votes during the first round.
9.6. Each Baltic State can be represented by no more than two members of the Board.
9.7. Every year at least two members of the Board shall be renewed. If not enough Board members are at the end of their term or have resigned, a random draw shall indicate the Board members to be replaced. If two members of the Board shall be chosen by the random draw, both members cannot be from the same Baltic State. The random draw is organized by the Board.
9.8. The Board shall:
9.8.1. ensure the implementation of the decisions adopted by the General Meeting;
9.8.2. to ensure the exchange of information within the ASSOCIATION;
9.8.3. to overview the developments of the BJE;
9.8.4. to validate the appointment of new members of the Editorial Board of the BJE;
9.8.5. the remaining activities that are necessary for the functioning of the ASSOCIATION and that will not contrary to the General Meeting decisions, these Statutes and the laws of the Republic of Latvia.
9.9. The decisions of the Board:
9.9.1. The Board has a quorum if more than half of the Board members participate in the meeting. The Board meeting can be held digitally;
9.9.2. To adopt a Board decision, it is necessary to have a majority of votes of the Board members;
9.9.3. Irrespective of paragraphs 9.8.1. and 9.8.2., the Board can make the decision without a meeting if more than half of the Board members vote for the decision via email;
9.9.4. The Board meeting of the ASSOCIATION shall be recorded in the minutes by the Secretary. The minutes of the meeting shall contain the
decisions made, indicating the vote of each Board member.
9.10. The Board elects the Chairman of the Board (hereinafter – PRESIDENT), the Secretary and the Treasurer.
9.11. The PRESIDENT, the Secretary and the Treasurer of the ASSOCIATION shall be elected from the Board members, who’s remaining term is at least two years. The President should come from the Baltic State that is going to organize the upcoming BEC.
9.12. The PRESIDENT, the Secretary and the Treasurer are elected for one year, starting from January 1st of the next year.
9.13. The President of the ASSOCIATION shall preside over the Board meetings and the General Meeting, and is responsible for the organization of the upcoming BEC.
9.14. The Secretary of the ASSOCIATION shall be in charge of the secretariat, draft the list of members, keep the records of the ASSOCIATION, and record the minutes of the Board meeting.
9.15. The Treasurer of the ASSOCIATION is responsible for the day-to-day financial affairs of the ASSOCIATION and shall report on these at least once a year to the General Meeting.
9.16. If the PRESIDENT, the Secretary, or the Treasurer of the ASSOCIATION resigns, the Board elects a new PRESIDENT, Secretary, or Treasurer who performs the respective duties until December 31st of the current year.
10. The Advisory Board
10.1. The ASSOCIATION has an Advisory Board that performs supervisory functions. Each institutional member of the ASSOCIATION can delegate one representative to the Advisory Board.
10.2. The Advisory Board has rights to:
10.2.1. appoint the Auditor of the ASSOCIATION to the General Meeting;
10.2.2. appoint the new members of the Board to the General Meeting;
10.2.3. to participate in the Board meeting;
10.2.4. to request an extraordinary Board meeting.
10.3. The decisions of the Advisory Board:
10.3.1. The Advisory Board has a quorum if more than half of the Advisory Board members participate in the meeting. The Advisory Board meeting can be held digitally;
10.3.2. To adopt an Advisory Board decision, it is necessary to have a majority of votes of the Advisory Board members;
10.3.3. Irrespective of paragraphs 10.3.1. and 10.3.2., the Advisory Board can make the decision without a meeting if more than half of the Advisory Board members vote for the decision via email.
11. Management and personnel
11.1. To fulfil the objectives of the ASSOCIATION, the Board can employ technical or administrative personnel. Employees can be paid or can be hired as volunteers.
11.2. The Board decides on the position, wage and tasks of the employees.
11.3. Members of the Board cannot receive a salary.
12. Financial assets
12.1. The income and financial assets of the ASSOCIATION will be gathered from:
12.1.1. the membership fees;
12.1.2. donations of natural and legal persons, sponsorship and other appropriations;
12.1.3. arranging events and providing services;
12.1.4. other incomes what are generated with activities that are in accordance with the interests of the ASSOCIATION and with the law of the Republic of Latvia.
12.2. The use of the ASSOCIATION funds:
12.2.1. assets may be used to achieve the objectives of the ASSOCIATION, to pay salary to employees and to pay remuneration of contracted work;
12.2.2. to pay members of the ASSOCIATION reimbursements for their expenses in connection with the ASSOCIATION’s activity;
12.2.3. give out rewards to the winners of competitions.
12.3. The Treasurer of the ASSOCIATION is responsible for the use of the financial assets. The use of assets is controlled by Auditor.
13. Auditor
13.1. The use of the ASSOCIATION assets is made by the Auditor. The Auditor is appointed by the Advisory Board and approved at the General Meeting for a one year term. The Auditor shall not be the member of the Board and shall not be the employee of the same institution as the Treasurer of the ASSOCIATION.
13.2. Auditor:
13.2.1. makes an audit of all ASSOCIATION’s documents and assets;
13.2.2. prepares a statement about the budget and annual report of the ASSOCIATION;
13.2.3. evaluates the bookkeeping of the ASSOCIATION;
13.2.4. provides suggestions regarding the improvement of the ASSOCIATION’s activities.
13.3. The Auditor makes the audit at least once a year, respecting the terms defined by the General Meeting.
13.4. The General Meeting approves the annual report of the ASSOCIATION only after receiving the statement of the Auditor.
14. Merger, division and liquidation
14.1. The merger, division and liquidation of the ASSOCIATION take place pursuant to the laws of the Republic of Latvia.
14.2. Liquidators of the ASSOCIATION may be members of the Board or persons who have been appointed by the General Meeting.
Statutes are approved in Vilnius, Lithuania, on June 12, 2018