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Constitution - Teamsters Local 399

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ART. VII, SEC. 5-7<br />

months prior to the first day of the month in which the<br />

Convention is convened. However, in cases of the splitoff<br />

of <strong>Local</strong> Unions occurring during the two-year period,<br />

the per capita averaging for each <strong>Local</strong> Union<br />

involved shall be based upon the period beginning with<br />

the date of the split-off and ending three (3) months preceding<br />

the first day of the month in which the Convention<br />

is convened. Where the split-off occurs within<br />

eight (8) months of the opening day of the Convention,<br />

and the General Executive Board, pursuant to Article III,<br />

Section 3(c), has determined that the newly chartered<br />

<strong>Local</strong> Union is entitled to full representation at the<br />

Convention, the per capita averaging for both <strong>Local</strong><br />

Unions shall be based upon the period from the date of<br />

split-off through the third month immediately preceding<br />

the month of the Convention.<br />

Finances<br />

Section 6(a). The General Secretary-Treasurer shall<br />

receive moneys due from all sources and in the case of<br />

subordinate bodies shall give his receipt therefor. All<br />

moneys shall be placed in banks, depositories, or vaults<br />

approved by the General Executive Board in the name of<br />

the International Brotherhood of <strong>Teamsters</strong>.<br />

(b). At least twenty-five percent (25%) of the assets<br />

of the International Union (exclusive of real estate,<br />

buildings, and furnishings) shall be maintained in interest-bearing<br />

bank accounts and short-term investments as<br />

directed by the General Executive Board.<br />

International Auditors and Audits<br />

Section 7(a). The books of all <strong>Local</strong> Unions may be<br />

audited to the extent prescribed by the General<br />

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