CONSTITUTION OF THE UP JUNIOR FINANCE ASSOCIATION

PREAMBLE We, the members of the University of the Philippines Junior Finance Association, desirous to create an association that shall embody our hopes and aspirations, to promote business in general and finance in particular, to uphold the highest standards of moral, social, intellectual, and personal growth, and to nurture the common ties that bind us in the spirit of fellowship and camaraderie, do hereby bind ourselves to ordain and promulgate this Constitution.

ARTICLE I NAME AND PLACE OF BUSINESS The Organization shall be known as the University of the Philippines Junior Finance Association (UP JFA), which shall maintain its office at the College of Business Administration (CBA), University of the Philippines Diliman (UP-Diliman), Diliman, Quezon City.

ARTICLE II PURPOSES The main purposes of UP JFA shall be:

a.

to engage in activities that would foster educational advancement in the field of finance by organizing services and activities, such as seminars, symposia, conferences, conventions, etc.; to provide a training ground for members to prepare them to engage in financial market activities; to expose the members to the actual practice of finance in the business community and to promote long-term relationships among finance associations in different schools by participating in the activities set by the following institutions or its members: 1. CFA Society of the Philippines (CFA Philippines); and, 2. Junior Confederation of Finance Associations in the Philippines (JCFAP); and, to instill integrity, uphold excellence, promote leadership, and advocate service.

b.

c.

d.

ARTICLE III DEFINITION OF TERMS Section 1. The Organization refers to UP JFA. Section 2. The Association refers to the collective of all resident members, which includes active, inactive, and honorary members. Section 3. Two-thirds (2/3) of those who are given notices for meetings shall constitute a quorum. Failure to constitute a quorum shall render the meeting void. Section 4. Fifty percent plus one (50% + 1) shall be deemed as the majority. Section 5. A plurality is achieved by a certain option or alternative when it receives the greatest number of votes in an election with two (2) or more options or alternatives.

ARTICLE IV MEETINGS Section 1. Semestral Meetings The Association shall hold a semestral meeting at the end of each semester. The Chief Executive Officer (CEO) shall render his/her semestral report to the members regarding the activities of the Organization. Section 2. Special Meetings Special meetings shall be called by the CEO or upon petition of one-third (1/3) of the Association as the need therefor arises. Section 3. Notices Notices of the time and place of semestral meetings shall be given to the Association at least one (1) week before the date set for such meeting. The notices for special meetings shall be given in advance and state the purpose or purposes of the meetings. Section 4. Quorum A quorum for any meeting may decide on matters presented at the meeting, except those matters where the Corporation Code requires the affirmative vote of the greater proportion. Section 5. Order of Business The order of business at the semestral meeting of the members shall be as follows: a. Proof of presence of a quorum; b. Report of the CEO and/or Executive Committee; c. Other matters. Section 6. Voting Proxy Each member shall be entitled to one vote, and he/she may vote either in person or by proxy, which shall be in writing and filed with the Deputy Operations Officer (DOO) of the Organization before the scheduled meeting.

ARTICLE V ADVISERS Section 1. Adviser(s) The Executive Committee shall choose at least one (1) adviser. At least one of these advisers must be chosen from the faculty of the CBA, UP-Diliman. Section 2. Functions The Board of Advisers shall have the following functions: a. to link the academic and business worlds through constant interaction between these two sectors; and, b. to provide counsel regarding legal, financial, and administrative matters concerning the Organization.

ARTICLE VI EXECUTIVE COMMITTEE Section 1. Executive Committee The businesses, affairs, and properties of the Organization shall be managed and directed by an executive board composed of nine (9) Officers: the Chief Executive Officer (CEO), Chief Operations Officer (COO), Chief Financial Officer (CFO), Chief Investments Officer (CInvO), Chief Information Officer (CIO), Deputy Operations Officer (DOO), Deputy Financial Officer (DFO), Deputy Investments Officer (DInvO) and Deputy Information Officer (DIO). Section 2. Exclusivity No member of the Executive Committee shall, during his/her term, hold any position in any other associations within University of the Philippines System and/or in JCFAP. Section 3. Meetings The Executive Committee shall meet at least twice a month. Special meetings of the Committee shall be held at the call of the CEO or upon written request of at least one-half (1/2) of the Committee. Section 4. Decisions Voting shall be done viva voce unless the Executive Committee agrees to conduct the same by secret balloting. Any decision of majority of the quorum is deemed to be the decision of the Executive Committee. Section 5. Term of Office All members of the Executive Committee shall serve for a period of one (1) year and may be re-elected for another year. They shall immediately serve their term of office until after the turnover ceremonies. A special meeting shall be called for such purpose. Section 6. Vacancies and Delegation of Powers In the occurrence of vacancy in the Office of the CEO by death, resignation, expulsion, physical and psychological incapacity and/or disability before the expiration of his/her term, the COO shall assume the role of the CEO. In the occurrence of any vacancy in any other Chief position, the respective Deputy shall assume the position. In the occurrence of any vacancy in any Deputy position, an election shall be held. In case of temporary absence of any Executive Officer, for any other reason that the Executive Committee may deem sufficient, the Executive Committee shall delegate for the time being the powers and duties of the absent member to any other qualified Executive Officer.

ARTICLE VII FUNCTIONS AND POWERS OF THE EXECUTIVE COMMITTEE Section 1. Executive Committee The Executive Committee shall have the following duties and powers: a. to oversee that the articles set forth in this Constitution are upheld; b. to guarantee that any decision made by the Association shall not be in conflict with this Constitution and related rules, and must prejudice neither the rights of any of its members nor the welfare of the Organization; c. to standardize the performance evaluation system used to ensure fair grading of the Organizations members and applicants; d. to determine the membership status of each and every member at the start of a semester; e. to form and dissolve committees necessary in performance of activities that are in alignment with the Organizations purposes, as provided in Article II, except those committees required under Article VIII; f. to delegate to any member the powers and duties necessary in performance of activities that are in alignment with the Organizations purposes, as provided in Article II; and, g. to represent the Organization in all public or private functions where the interests of the Organization are involved. Section 2. Chief Executive Officer (CEO) The CEO shall: a. represent the Organization in all official activities; b. prepare the agenda and preside over all meetings of the Executive Committee; c. prepare, along with the Executive Committee, a semestral program of activities and a master budget of the Organization; d. supervise the Executive Committee; e. sign and execute on behalf of the Organization all contracts and agreements into which the Organization may enter; f. sign all official documents and papers of the Organization and, subject to the countersignature of the Deputy Financial Officer (DFO), sign and/or deliver all checks and sums of money for payments on behalf of the Organization; g. verify all reports submitted to him/her by the other Chief Officers; h. submit an annual report of the operation of the Organization to the Executive Committee and such other items as the latter may request, and an annual report to the Association; and, i. exercise such other powers and perform such other duties as the Executive Committee may from time to time delegate to him/her. Section 3. Chief Operations Officer (COO) The COO shall: a. facilitate all internal activities of the Organization; b. take charge of the socio-civic affairs of the Organization; c. spearhead the Organizations recruitment efforts; d. spearhead performance evaluations by the directors of the teams to ensure a fair grading system of members and applicants;

e. f. g. h.

communicate the concerns and other pertinent matters of the Association to the Executive Committee; motivate the Association to participate actively in all the undertakings of the Organization; verify all reports submitted to him/her; and, exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO.

Section 4. Deputy Operations Officer (DOO) The DOO shall be the official custodian of the Organization's files and records and shall: a. issue notices for regular and special meetings of the Executive Committee and the Association and keep full minutes of all meetings; b. prepare the letters and all documents necessary for the conduct of the Organizations business; c. take charge of keeping official records, documents, papers of the Organization, including the JFA letterheads and the logbook; d. prepare reports on the operations of the Organization, including recommendations regarding acceptance of new applicants; and, e. exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO. Section 5. Chief Financial Officer (CFO) The CFO shall: a. take charge of the financial and corporate affairs of the Organization by coordinating activities; b. maintain the official financial records of the Organization; c. spearhead all fundraising efforts of the Organization; d. render financial reports of the Organization at least once every semester; e. audit all reports submitted to him/her; f. serve as a link between the Organization and the business/government sectors; g. ensure that sponsorship contracts are met; h. verify documents prepared in connection with disbursements made under the name of the Organization; and, i. exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO. Section 6. Deputy Financial Officer (DFO) The DFO shall: a. take custody of all the Organizations funds; b. collect all fees, charges, dues and/or assessments from the members; c. deposit, in the name of the Organization, to the bank designated by the Committee, all money, funds belonging to the Organization, which may come under his/her control or possession; d. render monthly cash receipts and disbursement statements, supported by monthly bank statements, and such other reports as the Executive Committee or the CEO may require; e. disburse funds for and in behalf of the Organization for authorized expenditures, provided that all disbursements shall be supported by vouchers, official receipts, or other supporting documents that will form part of the Organizations records;

f. g.

receive and give receipts for all money paid to the Organization from any source whatsoever; and, exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO.

Section 7. Chief Investments Officer (CInvO) The CInvO shall: a. take charge of the investing activities of the Organization; b. verify reports of the Organizations investing activities; c. spearhead activities or programs that would be helpful in fostering academic advancement in the field of finance; and, d. exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO. Section 8. Deputy Investments Officer (DInvO) The DInvO shall: a. coordinate with the CInvO regarding the financial securities and investments of the Organization; b. prepare reports on the Organizations investing activities at least once every semester; and, c. exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO. Section 9. Chief Information Officer (CIO) The CIO shall: a. disseminate information on recent business developments through the official publication and publicity materials of the Organization; b. represent the Organization and coordinate the activities of the Organization with that of JCFAP; c. establish contact with the Organizations alumni and be able to solicit their support in the various undertakings of the Organization; d. update the alumni files of the Organization; e. coordinate the activities for the Alumni Homecoming; and, f. exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO. Section 10. Deputy Information Officer (DIO) The DIO shall: a. ensure that the proper communication channels are used to coordinate and promote the Organizations activities; b. take charge of all published material requirements of the Organization; c. coordinate with the proper entities regarding the Organizations participation in inter-organizational activities; and, d. exercise such other powers and perform such other duties as may be delegated to him/her by the Executive Committee or the CEO.

ARTICLE VIII THE COMMITTEES AND THEIR CHAIRPERSONS Section 1. Director The chairperson of each committee, appointed by the Executive Committee, shall be called a director. Section 2. Committees As a minimum, the committees shall include the following: a. Internal Affairs; b. Treasury Operations; c. Corporate Relations; d. External Affairs; e. Publicity; f. Academics; g. Special Projects and Logistics; and, h. Portfolio Management. Section 3. Qualifications The director should be a bona fide member of the Organization. Section 4. Functions The directors will serve as secretariats to the Executive Committee. Section 5. Term of Office The directors will serve the Organization for the whole semester in which they are appointed. Section 6. Expulsion The Executive Committee shall have the power to remove a director from his/her position if it deems it necessary to do so. He/she shall then be replaced by a person appointed by the Executive Committee.

ARTICLE IX ELECTIONS Section 1. Elections The election of members of the Executive Committee for the next academic year shall be held at the end of the second semester of the current academic year. Section 2. Qualifications for Candidacy Only those members who meet all the qualifications required by the office in which they are interested to assume, shall be considered eligible to run for that office. a. The nominees for the office of the CEO must, at the time of their candidacy: 1. be at least an incoming senior with at least one (1) year remaining residence in their respective college; and, 2. have served the Organization as an officer for at least two (2) consecutive semesters. b. The nominees for the office of the COO must, at the time of their candidacy: 1. be at least an incoming junior with at least one (1) year remaining residence in their respective college; and, 2. have served the Organization as an officer or higher for at least two (2) consecutive semesters.

c.

d.

e.

f.

g.

h.

i.

The nominees for the office of the DOO must, at the time of their candidacy, have: 1. at least one year (1) remaining residence in their respective college; and, 2. served the Organization as an officer or higher for at least one (1) semester. The nominees for the office of the CFO must, at the time of their candidacy: 1. be at least an incoming junior with at least one (1) year remaining residence in their respective college; 2. have served the Organization as an officer or higher for at least two (2) consecutive semesters; and, 3. have successfully completed either Accounting 1 or the BA 99 series. The nominees for the office of the DFO must, at the time of their candidacy, have: 1. at least one (1) year remaining residence in their respective college; 2. served the Organization as an officer or higher for at least one (1) semester; and, 3. successfully completed either Accounting 1 or the BA 99 series. The nominees for the office of the CInvO must, at the time of their candidacy, have: 1. at least one (1) year remaining residence in their respective college; 2. served the Organization as an officer or higher for at least two (2) consecutive semesters; and, 3. successfully completed BA 141 and BA 142. The nominees for the office of the DInvO must, at the time of their candidacy, have: 1. at least one (1) year remaining residence in their respective college; and, 2. served the Organization as an officer or higher for at least two (2) consecutive semesters. The nominees for the office of the CIO must, at the time of their candidacy: 1. be at least an incoming junior with at least one (1) year remaining residence in their respective college; and, 2. have served the Organization as an officer or higher for at least two (2) consecutive semesters. The nominees for the office of the DIO must, at the time of their candidacy, have: 1. at least one (1) year remaining residence in their respective college; and, 2. served the Organization as an officer or higher for at least one (1) semester.

Section 3. Electoral Board An independent body shall be created by the CEO to act as the electoral board. This body shall be known as the Commission on Elections (the COMELEC), to be headed by a Chairperson. The COMELEC shall be composed of five to ten (5 10) members, none of whom shall be running for office. Incumbent members of the Executive Committee who are no longer qualified to run for office shall automatically form part of the COMELEC. Section 4. Election Proceedings The COMELEC shall coordinate and prepare the election activities, including: the determination of qualified votes, the nominations of candidates, the campaign, the convocation(s), and the elections proper. Section 5. Notice of Elections At least one week before the election date determined by the COMELEC, the Association shall be notified of the election proceedings and the corresponding schedule of activities.

Section 6. Qualified Votes The COO shall provide the COMELEC with the list of the active members of the Organization. Only the members included in this list will be considered by the COMELEC as qualified to vote. Section 7. Screening of Candidates The COMELEC must ensure that the nominees meet the requirements set forth in Article IX, Section 2 for them to be considered qualified candidates. Section 8. Campaign Period The campaign period shall be held on the week prior to the announced election date. Section 9. Quorum and Failure of Elections For the elections and the results therefrom to be deemed valid and binding, at least two-thirds (2/3) of the qualified voters shall have registered their vote in person during the determined date and time at the designated place. In the absence of quorum, the COMELEC shall declare failure of elections, in which case the COMELEC shall hold a second election within three days after the first election. If the second election also fails, the COMELEC shall re-open the nominations and hold another election within one week after the second election. Section 10. Determination of Elected Officials Winners of the elections are determined by plurality. Section 11. Losses due to Abstention and Special Elections Where only one candidate runs for a certain office, at least two-thirds (2/3) of the registered voters must not have abstained for that candidate to be duly elected. Otherwise, he/she loses the election due to abstention, in which case a special election shall be held within three days after the general elections. If, in the special election, less than two-thirds (2/3) of the qualified voters registered their votes, or more than one-third (1/3) of the registered voters abstained, the candidate again loses the election due to abstention. The COMELEC shall re-open the nominations and hold another special election within one week after the first special election.

ARTICLE X MEMBERSHIP Section 1. Membership Membership shall be open to all bona fide undergraduate students of UP-Diliman who are not in the last semester of their respective degree program. Section 2. Composition At least sixty percent (60%) of the Association shall be students of CBA, UP-Diliman. Section 3. Duties and Obligations Members must show their commitment to the Organization by fulfilling their duties and obligations through: a. active participation in the Associations and or its teams activities and meetings; and, b. payment of the semestral membership fee and all other pertinent fees.

Section 4. Rights of Members Regular, probationary, and honorary members of the Organization are entitled to all benefits offered and rights promulgated by it, such as: the use of the Organizations tambayan, the right to participate in training activities, the right to vote in the elections, and other benefits and rights so decided by the Executive Committee. Section 5. Membership Evaluation The members and applicants of the Organization shall be evaluated based on their participation in and contribution to the activities of the Organization. Section 6. Application Requirements The applicants are required to submit an application form, pay the corresponding fee, and fulfill the minimum requirements by going through a semesterlong application process. They shall not miss the formal interview. Failure to comply with any of these requirements shall mean the automatic deferral of their application. Section 7. Acceptance of Applicants The acceptance of applicants shall be decided upon by the Executive Committee, upon the recommendation of the DOO. Section 8. Activity of New Members - Newly accepted members are required to be active in the semester wherein their membership takes effect. Section 9. Membership Status Membership status is determined at the start of the semester based on the Executive Committees deliberations of each members performance during the preceding semester. Members may be classified as regular, probationary, inactive, or honorary. They may also be expelled, subject to the conditions of Article XI, Section 2. a. Regular membership shall be granted to old and new members who had at least a satisfactory performance during the previous semester. b. Any member placed under probation at the start of the semester is subjected to a mid-semester evaluation, after which he or she is either expelled or granted regular membership. c. Regular members who wish to apply for inactivity must submit a Letter of Request addressed to the COO not later than two weeks after the Recruitment and Reaffirmation (R&R) period. They shall state the reason(s) for their desired inactivity status. Failure to do so will automatically mean that they will be classified as regular members for the whole semester. Members cannot apply for inactivity for two consecutive semesters. d. Honorary members are members of the Organization who are entitled to special privileges because of their past or present positions in the Organization or in other University-recognized associations. 1. A former member of the Executive Committee of the Organization shall be automatically considered an honorary member and shall not be subjected to evaluation. However, any Executive Officer who seeks re-election reverts to being a regular member. 2. To be considered honorary members, regular members who will assume office in any other association should so inform the DOO not later than two weeks after the R&R period; failure to do so shall mean automatic forfeiture of the privilege. They shall revert to being regular members of the Organization once their terms in those other associations end.

Section 10. Alumni - A member of the Organization automatically becomes an alumnus of the Organization if he/she graduates from the University as a regular or honorary member of the Organization.

ARTICLE XI EXPULSION AND IMPEACHMENT Section 1. Expulsion of Members Members deemed by the Executive Committee unworthy of membership to the Organization, in accordance with Article XI, Section 2, shall face expulsion. All rights that have previously accrued to them by virtue of their membership shall be considered forfeited. They cannot apply for reconsideration, except in special cases determined at the discretion of the Executive Committee. Section 2. Grounds for Probation or Expulsion Any of the following shall be a sufficient ground for the probation or expulsion of members: a. any act violative of this Constitution and the policies, rules, and regulations set by the Organization, the University, and the Government of the Philippines; b. conviction for any crime committed; c. performance in one semester deemed unsatisfactory by the Executive Committee; or, d. failure to pay the membership fee and other payable accounts to the Organization, even after the grace period granted by the Executive Committee. Section 3. Expulsion Procedures The Executive Committee shall handle the expulsion procedures upon the recommendation of the COO. Section 4. Impeachment of Members of the Executive Committee Members of the Executive Committee may be impeached, subject to the conditions of Article XI, Section 5. Should they be impeached, they lose all the benefits and rights that have previously accrued to them by virtue of their position, and they are disqualified from running for any office in the Organization. They may or may not be expelled, subject to the conditions of Article XI, Section 2. Section 5. Grounds for Impeachment Any of the following shall be a sufficient ground for impeachment of any member of the Executive Committee: a. three (3) unexcused accumulated absences from regular meetings; b. gross neglect, grave misconduct, or abuse of authority in the discharge of his/her functions; or, c. enrollment in more than twenty one (21) academic units per semester during their term in office. Section 6. Investigation of the Executive Committee Complaints and motions for impeachment proceedings shall be directed to the Executive Committee. Investigations and deliberations shall be conducted by the Executive Committee, excluding the member(s) being subjected to the impeachment proceedings. If the complaints and motions are reckoned to be founded on sufficient grounds, the Executive Committee shall handle the procedures for delegation of powers during vacancies, in accordance with Article VI, Section 6.

ARTICLE XXII ACTIVITIES OF THE ASSOCIATION Section 1. Executive Planning Seminar The Executive Committee, after their election, shall plan for the activities that the Organization will undertake within their term. This is to be made during the Organizations Executive Planning Seminar (EPS). Section 2. EPS Activities and their Evaluation Each proposed activity shall have a Concept Paper and a Project Feasibility Report (PFR), which includes the budget for the proposed activity. A Project Accomplishment Report (PAR), which contains information on actual revenues and expenses, must be prepared at the end of each project. Section 3. Calendar and Budget The Schedule of Activities and the Master Budget for the Association shall be approved by the Executive Committee.

ARTICLE XIII FUNDS Section 1. Funds The funds of the Organization shall be derived from admission fees, annual dues from and special assessments of members, gifts, donations, and/or income generated by financial projects undertaken. Section 2. Disbursements Withdrawal from the funds of the Organization, whether by check or any instrument, shall be signed by the DFO, verified by the CFO, and countersigned by the CEO. Section 3. Fiscal Year The fiscal year of the Organization shall be from April 1 to March 31 of the following year.

ARTICLE XIV ORGANIZATIONAL SEAL Section 1. Form The corporate seal of the Organization shall be in such form and design as may be determined by the Executive Committee.

ARTICLE XV AMENDMENTS Section 1. Amendments Amendments on the by-laws, or any provision thereof, may be proposed at any meeting called for the purpose. Proposed amendments shall be approved by twothirds (2/3) of the quorum.

Section 2. Effects Any amendment before the first school day of the semester shall take effect immediately. Any amendment during the semester shall take effect on the following semester upon the approval of Executive Committee.