§ 1. Name
The name of the Association shall be Africa Monetary Fund Economic Association.
§ 2. Purpose and Activities
The purpose of the Association shall be to promote the economic interest of members by providing training, counseling and creating job opportunities for the unemployed members within the Association's activities, and to establish and maintain co-operation between the members and other interest groups. Members shall participate through self-initiatives and as consumers of the Association’s services. Membership is open to other business entities and organizations.
§ 3. Seat of the Board of Directors
The Board of Directors of the AMF Economic Association shall be based within the Stockholm Municipality.
§ 4. Membership
Membership shall be open to private individuals, businesses and other associations, provided that such members adhere to the rules and regulations as well as established policies and decisions, and contribute to the realization of the Association’s overall goal. Application for membership shall be duly examined and evaluated by the Board or its designate.
§ 5. Duty of Members
Members are required to pay all stipulated deposits and fees as prescribed by the Association’s general meeting, and to fully adhere to the statute, policy and decisions of the Association.
§ 6. Deposits (only for share holders)
A share hold member shall participate in the Association’s business initiative with a deposit of SEK 1000 per share. Deposits shall be paid in cash not later than 1 (one) calendar month after obtaining membership. Deposits made may be reimbursed only in instances where the statutes governing economic associations so stipulate.
§ 7. Annual Fee
A member shall pay to the Association an annual membership fee of SEK 300, as prescribed and approved at the Association’s General Meeting. The fee shall be paid in ways and within a period as shall be determined by the Board of Directors.
§ 8. Expulsion
Any member who violates this statute or who blatantly inflicts damage upon the Association, or who opposes its interest or objectives shall be expelled by the Board.
An expelled member may seek redress at the Association’s general meeting, through the Board of Directors within one month from the date on which a notice of expulsion is sent to the member in question.
§ 9. Resignation
Except where stipulated by the law governing economic associations, resignation from the Association shall take place at the end of the financial year that follows one month after issuance of notice of resignation, be it expulsion or other circumstances resulting in such resignation.
§ 10. Board of Directors
The Board is elected at the General Meeting and shall comprise at least 3 (three) and at most 9 (nine) permanent board members, with at most 5 (five) substitute board members. Ordinary board members shall serve for a period of two years. At the formation of the Association, half of the board members are elected for a one-year term.