ARTICLE 9 SGEU ASSETS

9.1 The Contingency Fund

9.1.1 The SGEU Contingency Fund, shall receive credit for all interest earnings and capital gains accruing from such monies of the fund as may be invested. The Annual Convention may recommend additional sums of money be allocated to the fund from time to time.

9.1.2 The monies credited to this fund shall be deposited in the authorized depository under an account in the name of SGEU Contingency Fund

9.1.3 Expenditures shall be made from the fund for routine administrative purposes and for special purposes as defined and declared by the Provincial Council.

9.2 The Defense Fund

9.2.1 The SGEU Defense Fund shall receive credit for interest earnings and capital gains accruing from such monies of the fund as may be invested. The Annual Convention may recommend additional sums of money be allocated to the fund from time to time.

9.2.2 The monies credited to this fund shall be deposited in an authorized depository under an account in the name of the SGEU Defense Fund.

9.2.3 Expenditures shall be made from the Defense Fund for strike purposes or for defense of members through campaigns. All expenditures from the Defense Fund must be authorized by the Administration Committee or Provincial Council.

9.2.4 Provincial Council is authorized to access the Defense Fund, as may be needed, to fund the legal challenge against the Essential Services legislation.

9.3 Board of Trustees

9.3.1 Board members shall be the 1st Vice-President and three (3) other Provincial Council members/member-elect, which shall be elected by the Convention, two positions in even years and one position in the odd year Nominees shall accept in person, or shall have indicated in writing, their willingness to accept nomination.

9.3.1.1 Two alternates will be elected at Convention in the even years and one in the odd years to avail themselves to the Committee should there be a vacancy or the inability for a member to attend the meeting.

9.3.2 The Chairperson of the Board shall be the 1st Vice-President of the Union.

9.3.3 Three (3) members of the Board shall constitute a quorum for the conduct of business.

9.3.4 Copies of the minutes of all meetings of the Board shall be filed with the Provincial Council at the next meeting of the Provincial Council.

9.3.5 The Board shall make an Annual Report to the Convention of all business transacted in connection with the Contingency Fund, the Defense Fund and the assets of the Union under its administration.

9.3.6 The function of the Board of Trustees shall be:

9.3.6.1 To ensure the prudent investment of the monies of the Contingency and Defense Funds.

9.3.6.2 To administer the assets of the Union.

9.3.6.3 To hold the assets of the Union, as and when required, in trust for the membership, and report to and be responsible to the Provincial Council.