of any director, officer, or member thereof,
or to any individual. Upon dissolution, or winding up of the corporation, a prorated portion of it assets attributable to
dues, and remaining after payment of, or provision of payment of, all debts, and liabilities of this corporation, shall be
distributed to a nonprofit fund, foundation, or corporation which has established its tax exempt status under Section 501
(c) of the Internal Revenue Code.
Article
3
Membership and Voting Rights:
3.1 Membership:
The UAPBA shall, and until otherwise determined by a resolution
of the Board of Directors, recognize two types of memberships.
3.a Company Members:
Company Members shall be any business licensed, or otherwise approved, or established as a Bonding Company within
the state of Utah. One representative from each Member Company shall be designated as the representative of such company,
and shall be entitled to one vote on matters pertaining to the affairs of the general membership of the UAPBA.
3.b Associate Members:
Associate Members shall be any company, business, or individual
supporting the purpose, and goals of the Corporation not eligible for membership pursuant to 3.1a. Associate members do not
have voting privileges, but may serve on a committee, and attend all meetings. Associate members are designated as Insurance
Companies, and their employees, Vendors, and other interested individuals.
3.2 Voting Rights:
All Company Members in good standing at the time, or presentation of any matter to the General Membership are eligible
to cast a vote. All Members of the Corporation who have paid all annual dues at 100%, shall be considered members in good
standing for the purpose of these Bylaws.
3.3 Termination:
Upon a
resolution passed by a two-thirds vote of the membership attending any regular, or special meeting of the Corporation the
membership of any member in the Corporation may be revoked, or any renewal of such membership refused for cause involving
activities, whether or not related to the Corporation, tending to discredit the character, or honor of such member of the
Corporation. The membership of any member shall terminate upon the resignation of the member, and/ or acceptance of the President.
3.4 Quorum and Proxy Voting:
