VIII. FINANCES 

 

 

 

Article 64 – Business year

The business year shall start on 1 January and finish on 31 December. Each year, at the end of the business year, the account books shall be closed. The Executive Committee shall give an account of the year and the budget for the following year and submit them for approval by the Ordinary General Meeting.

When preparing the annual budget, the Executive Committee shall decide on the use of the funds collected or to be collected, should there be a positive balance after the auditing of the administration and running costs. 

The NFB reserves the right to claim the funds paid or obtain them through the courts, should their use not correspond to what had been planned by the NFB. 

 

 

 

Article 65 – Annual subscription

1. Membership subscriptions are due on 1 January of each year. The annual subscription for new members for the year in question shall be paid within 30 days of the close of the General Meeting at which they were admitted.

 

2. The Executive Committee shall fix the amount of the annual subscription. 

 

 

 

Article 66 - Settlement

NFB may debit any member’s account to settle claims.