Resolution of the Board of Assistants of the Society of Mayflower

Descendants in the State of Delaware Regarding Dues and Fees

Schedule of Dues and Fees

Annual Membership Dues ……………………………………………………………………………$40.00

Life Membership Fee (one-time fee):

Under Age 18 (Junior Life Membership)

20 times Annual Membership Dues……………………………………………………………$800.00

Age 18 through Age 34

20 times Annual Membership Dues……………………………………………………………$800.00

Age 35 through Age 54

16 times Annual Membership Dues…………………………………………………………..$640.00

Age 55 and over

12 times Annual Membership Dues…………………………………………………………..$480.00

Junior Membership Application Fee…………………………………………………………….$10.00

Application Fee (Non-refundable)……………………………………………………………..$100.00

Supplemental Application Fee (Non-refundable)………………………………………$100.00

Members transferring into or applying for dual membership in the Delaware Society prior to September 30 shall pay only the current year’s dues.

Reinstatement fee for Regular Member who resigned in good standing……………..None

Reinstatement fee for Regular Member who was dropped from membership….$40.00

Effective Date Fee Schedule: September 19, 2015        Andrew W. Edmonds, Jr., Treasurer

Under authority granted to it by Article VII of the Bylaws (the “Bylaws”) of the Society of Mayflower Descendants in the State of Delaware (the “Society”), the Board of Assistants of the Society hereby enacts the following resolution regarding membership dues and fees for the Society.  This shall govern all membership dues and fees for the Society until amended by the Board of Assistants (including any amendment of Appendix A hereof).  Capitalized terms not otherwise defined herein shall have the meaning ascribed in the Bylaws.

RESOLVED:  Annual Membership Dues; Notices; Payment.  The Treasurer shall arrange for Dues Notices to be sent out before October 1st of each year and they shall be payable by November 1st of each year.  The annual membership dues shall be set forth in Appendix A hereof.  The membership of any Regular Member whose annual membership dues have not been received by the Society by December 31st will be terminated, except as otherwise provided in Section 7.7 of the Bylaws, and thereafter will be reinstated upon that Regular Member paying the dues and fees as set forth in Section 7.6 of the Bylaws.  Life Members, Junior Members, and Junior Life Members are exempt from the payment of the annual membership dues.

RESOLVED:  The Finance Committee shall include the Governor, Treasurer, Finance Committee Chair, and any other persons selected by the current Governor. Money shall be invested according to the recommendations of the committee, requiring signatures of the Governor and Treasurer for any adjustments. Funds are currently invested in two separate funds at The Vanguard Group, Valley forge, PA; one for Life memberships, one for Investment funds. Both are invested conservatively in Vanguard Balanced Index fund investor Shares (VBINX), which maintains a ratio of roughly 60% in U.S. stock market, 40% in U.S. bond market.

RESOLVED and VOTED that the fee schedule for the fiscal year commencing October 1, 2014 and ending September 30, 2015 shall be as stated in the attached Appendix A hereto.

Certified as a true copy of the resolution adopted by the Board of Assistants of the Society on the 19th day of September 2015.

Christine W. Lassen, Secretary