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Constitution - Teamsters Local 399

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ART. X, SEC. 15-ART. XI, SEC. 1<br />

whenever the Board determines that such waiver is in the<br />

best interest of the International Union.<br />

The General Executive Board shall have the power to<br />

waive the payment of any fees to the International Union<br />

or any subordinate body to implement any arrangement<br />

with any other international union providing for the<br />

transfer of members or the acceptance of members who<br />

may be on withdrawal card status.<br />

Article XI<br />

FINANCE COMMITTEE DUTIES<br />

Section 1. There shall be a Finance Committee consisting<br />

of seven (7) members of the General Executive Board,<br />

namely, the General President, the General Secretary-<br />

Treasurer, and five (5) Vice Presidents selected by the<br />

General Executive Board. A quorum of the Finance<br />

Committee shall consist of any five (5) members thereof.<br />

The General Executive Board shall have the power to<br />

remove any selected member of the Finance Committee by<br />

a majority vote. It shall be the general function of the<br />

Finance Committee, by majority vote, to pass upon and<br />

approve all investments of the funds of the International<br />

Union, and no investment of such funds can be made without<br />

such approval. It shall, however, be the specific function<br />

of the General President and the General Secretary-<br />

Treasurer to make all investments of the funds of the<br />

International Union, subject to the subsequent approval of<br />

the Finance Committee, and the General Secretary-<br />

Treasurer shall at all times keep the General Executive<br />

Board advised of all such investments.<br />

All investments will be such as may be made by fiduciaries<br />

by the laws of the Commonwealth of Massachusetts.<br />

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