Benefits are all proceeds from the disbursement of assets acquired by the People`s Funds and contributions made by the member during the period. Excluding expenses, debts or losses incurred by Stokvel in relation to the contribution. Benefits are only paid after 5 years since the beginning of the group. It is an investment Stokvel whose sole mandate is to acquire assets in the campaigns of the People`s Funds (thepeople.co.za/campaigns/). Proceeds from these assets will be used at the end of a five-year period for the inclusion of a black-held cooperative bank. Ideas on how to write the Constitution seems interesting and seem useful, I`ll implement them in our stokvel – Changes in leadership can only begin when the Stokvel is registered as a cooperative bank. The appointment of executives can only be made by a decision of the members. Changes to the management structure must be announced 60 days before the meeting and 30 days before it comes into effect. The change of management does not bind or influence the non-discretionary mandate of the group given to StokFella (Pty) Ltd (hereafter referred to as StokFella). There are no monthly meetings for this Stokvel.
A general meeting is convened by Stokvel`s Board of Directors if Stokvel can afford it. Non-members may not participate in the entire general meeting unless invited by the Executive Committee. Special meetings are convened by the Executive Committee if necessary. In the event of the closure of the Stokvel, all additional funds and assets of the Stokvel will be distributed on the Stokvel according to the contributory value of each member. Responsibility and debt are evenly distributed among the Stokvel according to the contributory value of each member if these debts are incurred by the Stokvel. After the closure of the Stokvel, StokFella will take this last statement to close the Quick Access account on the 3PIM ETF system on behalf of the Stokvel Group. The organization`s money is deposited into a Quick Access account. The president is appointed by the group and authorized to establish, on behalf of The People`s Stokvel, a relationship with StokFella. Permission to sign the electricity supply and transactions on the StokFella platform option is held by the group`s president, treasurer and secretary. Only instructions and permissions for the StokFella platform authorization procedure are executed and processed.
As members of the group, we agree with our Chair to accept StokFella`s non-discretionary mandate. If StokFella has received permission/instructions on payment of sums to third parties (person or institution who is not a member of the Stokvel) as a member on its platform, must compensate for the damages, costs and expenses that we or any other person whom we or any other person supports or who may bear, either directly or indirectly, as a result of the Stokvel, to pay all amounts (according to authorization/instructions) to a third party`s bank account. one. Chair whose duties are as follows: – The direction and preparation of the agenda of the meetings. Make sure the rules are followed. Allow the withdrawal of money with other executive members on the basis of the Stokvel`s mandate. Exploring the possibilities that would enrich the Stokvel and its members.