ARTICLE EIGHT– FINANCIAL

The charter members of the league have paid a franchise fee of $750.00 and a performance bond of $500.00. These funds will be maintained by the Treasurer in an account separate from the league’s operating account, and will be accessed only if a team must forfeit their performance bond or if a team leaves the league. Forfeiture of the franchise fee and the performance bond, or a portion thereof shall only occur pursuant to a meeting the Board of Directors duly called, and upon a majority vote as defined herein in Article 4-2.

The amount of the franchise fee and performance bond for new members of the SHL shall be decided upon by the Board of Directors at the time it receives an application for membership to the SHL.

8-3 All member teams shall pay to the SHL a sum of money for operating expenses, which sum shall be decided at the annual general meeting of the Board of Directors. The operating expenses shall be paid prior to the commencement of the first league game, whether or not the team paying the operating expenses is participating.

ARTICLE NINE – OFFICERS AND THEIR DUTIES

The executive of the SHL shall consist of a President, Vice President, Secretary-Treasurer, League Advisor, Director of Operations, Statistician and Media Relations Officer, and shall be known collectively as “the Executive” or the “Officers” and individually as an “Officer”.

The President shall chair all league meetings and conduct the day to day business of the league with the assistance of the other officers as he sees fit. He shall also represent the league at HNB and the NBHOA and ensure that all member teams are aware of all pertinent HNB regulations, deadlines, and discipline codes.

The Vice President shall assume all duties deemed necessary by the President and will act as President in his absence.

The Secretary is responsible for the recording and timely distribution to all members of the Board of Directors of the minutes of all league meetings and other documents as may be determined to be in the general interest of the league.

The Treasurer shall administer the league funds and be prepared to offer a financial report at any league meeting. He/she shall maintain two separate bank accounts at a recognized Canadian banking institution, each of which shall have at least two (2) signatories. One account shall be for the deposit of the franchise fees and performance bonds paid by member teams, and the other, which shall be known as “the operating account”, shall have deposited to it the yearly operating expenses paid by each member team, and any fines or revenues from any other source.

The Secretary and theTreasurer can be one or the same person.

The Statistician/Media Relations Officer, shall keep accurate records of all league games, provide game results and league news to the media, and communicate suspensions, memos, and other correspondence to league members as directed by the President.

The Director of Operations shall, whenever requested by the President, convene a meeting (conference call) of the members of the disciplinary committee to rule on any question of discipline that may come before it as outlined in By-Law 4.

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