ARTICLE 72 SURPLUS ASSETS OF LOCALS 1 A local may deposit surplus assets with the International. Locals 2 making such deposits shall be responsible for the pro rata share of 3 expenses incidental thereto. 4 The Board of Trustees shall be the custodian of such assets 5 deposited. The deposits shall be placed in a suitable safety deposit box. 6 At least two (2) members of the Board of Trustees shall be present 7 when assets are deposited or the deposit box is opened. 8 The General Secretary and Treasurer shall maintain a record of the 9 deposits and attend to the collection of any income due thereon and 10 remit same to the local involved. 11 Assets deposited with the International must be shown by the 12 Treasurer as part of the balance on hand to the credit of the local. 13 Deposits may be withdrawn at any time upon submitting to the General 14 Secretary and Treasurer a resolution adopted by local action, signed by 15 the President and Treasurer, and bearing the local seal. |