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Constitution - Teamsters Local 399

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ART. X, SEC. 8-10<br />

<strong>Local</strong> Union Secretary-Treasurer and copies of the<br />

reports shall be maintained for the period of time<br />

required by law.<br />

(b). The Trustees must sign the books of the <strong>Local</strong><br />

Union if the Trustees have found them correct and the bank<br />

balances verified. In the event that a Trustee declines to<br />

sign the books, the Trustee must state in writing to the<br />

<strong>Local</strong> Union Secretary-Treasurer and to the General<br />

Secretary-Treasurer his reasons for declining to do so. In<br />

the event of the unavailability of a <strong>Local</strong> Union Trustee,<br />

the remaining Trustees or Trustee shall make the monthly<br />

examination of books and the monthly report.<br />

Deposit of Money<br />

Section 9. Subordinate bodies are autonomous and<br />

may keep their money deposited in their names in such<br />

accounts and depositories as they deem appropriate. The<br />

subordinate bodies may also invest in property, real and<br />

personal; provided, however, that all investments will be<br />

such as may be made by fiduciaries under the laws of the<br />

Commonwealth of Massachusetts. When disbursements<br />

of subordinate bodies are made by check, the check shall<br />

bear the signature of at least two (2) elected officers in<br />

the manner provided by the Bylaws of the subordinate<br />

body; when disbursements are made by cash they shall<br />

be verified by receipt or other evidence of payment.<br />

Subordinate bodies may provide for direct and indirect<br />

loans for such purposes and with such security, if<br />

any, as they deem appropriate and with such arrangements<br />

for repayment as they deem appropriate.<br />

Audit of Books of Subordinate Bodies<br />

Section 10(a). The General President or General Secre-<br />

[ 84 ]

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