Section 1 The aim of the Chinese Economists Society (CES) is to promote scholarly exchanges among its members and contribute to the advancement and dissemination of economics and management sciences in China. For these purposes, The CES sponsors annual meetings, conferences and publications.
Section 2 Chinese students and scholars of economics, business administration and population in North America are eligible for CES Membership by an application. Students and scholars who are interested in Chinese economic studies are also eligible for Membership through an application. Others may become Members by special permission of the President of the CES.
Section 3 Members of the CES shall elect its President. The President is responsible for the overall management of the CES and serves a one-year term. The President may be re-elected for another one-year term, either consecutively or non-consecutively. However, no member may serve as President for more than two terms. To be eligible for President, a candidate must have been a Member of CES for more than two years and must have served as a Director of the Board for at least one term.
Section 4 Members of the CES shall elect its Board of Directors, of which the President is the Chairman. Directors serve for a one-year and may be re-elected but may not serve for more than two consecutive terms. The Board supervises the activities of the CES. The Board of Directors should make a decision or call a vote within two weeks upon receipt of a bill proposed by ten or more Members in regard to an important issue of the Society or a request of a dismissal of a Director.
Section 5 The CES has Vice-Presidents who are Directors of the Board and are appointed by the President. The functions of the Vice Presidents are the same as those of the other Directors under normal conditions. One of the Vice Presidents, however, exercises the functions of the President when the President cannot execute his/her duties for various reasons.
Section 6 The CES allows senior membership. A senior member can automatically keep the membership for a number of years if a certain membership fee is paid at one time at a discounted rate. The detailed rules for the number of senior membership years and the senior membership fee appear on the Application and Renewal Form of the CES.
Section 7 The CES may designate its Members with significant professional contributions as Fellows of the Society. Fellows constitute a Fellows Committee.
Section 8 The income of the CES comes from membership dues and contributions. Those who render services to the CES may receive compensations for their and reimbursements for the expenses, as may be determined by resolutions of the Board.
Section 9 The CES functions as a professional association. Its Members are not allowed to express opinions on its behalf without the authorisation of the Board of Directors or a plenary meeting of the CES. The President and Directors should inform Members when any individuals or organizations attempt to interfere with the normal operation of the Society.
Section 10 The CES is registered in the United States and subject to the relevant US laws and regulations. With the consent of two-thirds of the Members, the Society may dissolve in accordance with procedures prescribed by relevant laws and regulations.
Section 11 When a majority of Directors approves a proposal, brought forth by at least five Members, to impeach the President, the Fellows Committee shall hold a voting among Members on the proposal. The President will be dismissed if there are more than 50 valid votes submitted and at least two-thirds of which are for the proposal. If the President is dismissed, the Board of Directors shall function as acting President until such time when a new President is elected.
Section 12 The Finance Committee of the CES manages its financial matters. A separate document passed at the tenth annual meeting details the function of the Finance Committee.
Section 13 These Bylaws are to be interpreted by the Board of Directors. They may be revised with the consent of two-thirds of votes submitted for that purpose.
(Initially adopted on May 25, 1985 and as most recently revised on November 17, 1995 during the 10th annual meeting of the Society.)
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Amendment to the CES Membership and Office (approved by the CES BOD on December 2, 2005)
Academic institutions, business firms, and other organizations, who share CES' objectives, may apply for the CES Institutional memberships. The Institution members have rights to be list in the CES brochures, to post their job advertisements and event announcements on the CES web site, with approval of the CES Office, without additional charges, to enjoy one free annual subscription to CER, and to receive two complementary annual conference registrations.
The annual institutional membership is $650 or 5,000 RMB per year, which is subject to necessary adjustment in the future.
2. Changes in the fee structure of the annual CES membership
To simplify the CES membership structure, the new CES membership fees will be:
Student membership: $10 (without subscription to CER)
Student membership: $20 (with one year subscription to CER)
Regular membership: $30 (without subscription to CER)
Regular membership: $40 (including one year subscription to CER)
3. The establishment of the CES Business Office in China
To facilitate the communication and management of the CES membership in China, the CES Headquarter will establish a business office in China (local host to be decided). The China office will report to the CES headquarter office at Michigan directly subject to the supervision of the CES board.
The above amendment will be effective from December 2, 2005
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Appendix to Bylaws. Gregory and Paula Chow Endowment for scholarly research to promote free-market economics in China
November 8, 2003
Objective of the Endowment
This fund is set up to provide financial assistance to foreign scholars to lecture, teach, promote economics education and research, or otherwise conduct scholarly activities to promote free-market economics in China. The fund will pay lump sum cash grants, or reimburse expenses and/or pay honoraria to candidates whose projects or missions are deemed as having merit by the Chinese Economist Society’s (CES) Chow Endowment Board of Directors.
This endowment was established on September 1, 2003. Disbursements from this endowment will be made on an annual basis by the Chow Endowment Board.
The original endowment consists of a donation of $208,000 paid in two parts, $12,000 and $196,000, during the calendar year 2003.
The Finance Committee chair will be responsible for managing and investing the fund. Investment revenue such as interest or dividend payments will be reinvested in the endowment to support the activities stated in paragraph 1 in perpetuity.
Board of Directors
The fund will be administered by a board consisting five members:
- Gregory Chow or a Chow family member will serve as the chair of the board
- One member will be appointed by the Chow family
- The most recent past CES president
- The current CES President
- The Chair of CES Finance Committee
Board of Directors – Terms
- The term for the chair is permanent.
- The term for the member appointed by the Chow family is determined by the Finance Committee chair after consultation with the chair of the board.
- Because the term for CES President is one year, each President will serve as a board member for two years (as the current and past president).
- The Chair of CES Finance Committee has a five-year term and can be reelected.
Applications for endowment funds must be made in writing to the Board of Chow Endowment, and must be approved by a simple majority vote by the Chow Endowment’s Board of Directors. Funds will be dispersed on a yearly basis.
The most recent past CES President will serve as the Executive Secretary of the fund and manage the application and award process.
Award and candidate selection procedure
The award and candidate selection process contains the following steps:
1. The Board decides the total amount of money that will be awarded for the current fiscal year program and inform the President.
2. The President will organize a five-member committee. The committee will submit a proposal to the board. The proposal should include detailed information about the program, including the specific aims of the award, the number of awardees, the proposed products of the awarded program or project, evaluation procedures, and the amount of financial support granted.
3. The board will review, make suggestions for revision, and approve the proposal. Once the board approves the proposal, the CES Finance Committee will disburse the fund.
4. Upon the completion of the program or project, the President will submit a report to the Board.
This organization shall use as its parliamentary authority the most recent edition of Roberts Rules of Order. In the event of a conflict between the terms and conditions outlined in the Appendix and those in the CES By
laws, the former shall prevail.
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The Bylaws of CES Finance Committee
August 1, 2003
The Finance Committee (FC hereafter) is a standing committee independent of the Board of Directors of CES. The responsibilities of FC are:
a). Enforcing the CES Accounting Regulations
b). Managing the accumulated assets of CES;
c). Supervising the financial transactions of the Board of Directors of CES;
d). Supervising other financial affairs of CES and maintaining financial records of CES activities.
The FC has five members. They are elected by CES members at the annual Meeting. The Chair of FC is elected by the FC members. The term limit is five years for the chair. There is no term limit for FC members. The FC chair automatically serves as the Treasurer of CES.
III. Recall provision.
If a simple majority of FC members vote against FC leadership, the FC Chair should resign from the post but would still keep his/her FC membership. FC would then re-elect a new Chair and issue a formal report to CES members within 30 days. The election of the new FC Chair will be supervised by the CES president. The ousted chair has the right to appeal at the CES annual meeting.
To facilitate communication and coordination, the President and the Board of Directors can be non office holding FC members without voting power.
IV. Criteria for office holders
A candidate of the Finance Committee should meet following qualifications:
a). Having a sound record in serving CES;
b). Having no history of financial wrongdoing (any member can challenge the record of a candidate if he or she has any relevant evidence);
c). Having no conflict of interest in CES. For example, current and preceding Directors cannot serve at FC until they complete their projects and close their CES accounts.
V. Accounting Regulations.
The CES Accounting Regulations are a guideline for CES financing activities and are enforced by FC. FC reviews the CES Accounting Regulations regularly and revises them as necessary. FC should send any suggested amendments to the CES Accounting Regulation to the President and the board of director for comments before making a final decision. FC has the final authority on any amendments to the CES Accounting Regulations. Amendments to the CES Accounting Regulation will be approved by a majority vote FC members.
VI. Asset Management
FC formulates the general policy regarding assets management. A conservative investment strategy is preferred. The daily management is carried out by the Chair or his/her representative. FC members receive no salary. Only operational costs can be covered by the FC. The compensation for the CES President and FC staff is decided by FC.
VII. Project Funding Criteria.
The CES fund will be used only for the following purposes:
a) Support of FC regular operations;
b) Support of projects when unexpected financing difficulty occurs;
c) Support of special tasks that aim to achieve CES’ long-term goals.
The operation guideline and major financial decisions should be approved by the majority of FC members. Any budget item of $3000 or more should be approved by the majority of FC members. Any budget item between $1000 and $3000 can be decided by the FC Chair under the condition that the chair should inform FC members within 60 days. The Chair can make a decision for items of $1000 or less.
VIII. Annual Report
The FC Chair should submit a financial report to CES annual meeting. FC should take timely action against any serious problems in financial management and inform the Board of Directors within three months.
IX. This Amendment is approved by FC and passed by the CES members at the Annual Meeting at University of Michigan, Ann Arbor, on August 1, 2003.
CES Finance Committee:
Wei Yu (Chair)
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The CES Financial Regulations
1. The CES fiscal year.
The CES fiscal year is from November 1 through October 31 of the next year.
2. Operation Funds.
To initiate fundraising and normal operations, each President can obtain an operating fund from the Financial Committee (FC). The President should return the operation fund to the FC no later than the first day of the sixth month after the term ends (May 1).
3. Accounting method.
The CES accounting system contains two major parts: the CES assets managed by the Financial Committee and the operating accounts that are managed by the president and the executive board. Each president is responsible for all projects initiated during his or her term. A president can keep the CES accounts open for ongoing
projects for up to three years after his/her term ends. If a president cannot finish all the ongoing projects by the end of the three-year period, the president should close all CES accounts and transfer the remaining funds to FC. FC will pay for these unfinished activities.
The president should send copies of all CES bank statements and canceled checks and provide information for each transaction to the FC at the end of every fiscal year.
The FC is responsible to have all CES financial transactions recorded by an independent certified accountant.
An independent professional accountant will be hired by the FC to audit financial transactions when a president has completed all the activities initiated during his or her term. The accountant will submit a report to the FC.
5. Surplus or deficit.
After projects are completed, the president should close all CES operating accounts opened during his or her term and transfer the surplus to FC. If a deficit occurs, the president should submit a request to FC for financial support. FC has the right to cut the budget for unfinished projects in order to reduce the deficit.
7. Tax Returns.
FC is responsible for filing the CES tax return. Presidents with outstanding CES accounts are obligated to maintain and produce the documents that are requested for filing tax return to FC in time. Presidents are responsible for any errors and mistakes made in reporting financial transactions under his or her supervision to the FC.
8. The CES Annual Fiscal Report.
The FC should provide an annual fiscal report before August 1 each year and publish the report on the CES website. This annual report should detail all CES financial transactions during a fiscal year, including transactions for unfinished projects conducted by ex-presidents and CES assets managed by the FC.
9. FC fund.
The use of FC fund should follow the FC Bylaw. The Finance Committee can initiate and finance activities that are directly related to CES accounting and financing management. FC will report its assets and transactions each year on the CES fiscal report. The CES President has the right to audit the FC funds.
10. Appropriate use of CES fund.
The use of all CES funds should be consistent with the CES Bylaw and its non-profit academic status. No CES funds should be used for any political purposes or for member’s personal benefits. All CES-funded activities should be open to all members.
11. This accounting regulation is approved by FC and passed by the CES members at the Annual Meeting at University of Michigan, Ann Arbor, on August 1, 2003.
CES Finance Committee:
Wei Yu (Chair)
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Amendments of the CES Bylaws
Approved by the CES Membership on December 7, 2007
Section 2 Chinese students and scholars of economics and related fields in North America are eligible for CES Membership by application. Scholars who live outside North America but have studied in North America are also eligible for Membership through an application. Others may become Members by special permission of the President of the CES.
Section 3 Members of the CES shall elect its President. The President is responsible for the overall management of the CES and serves a one-year term. The President may be re-elected for another one-year term, either consecutively or non-consecutively. However, no member may serve as President for more than two terms. To be eligible for President, a candidate must have been a Member of CES for more than two years, must have served as a Director of the Board for at least one term, and must work primarily in North America during the presidential term.
Section 4 Members of the CES shall elect its Board of Directors, of which the President is the Chairman. The majority of the Board of Directors must work primarily in North America during their term. Directors serve for a one-year and may be re-elected but may not serve for more than two consecutive terms. The President-elect is an automatic non-voting member of the Board of Directors. The Board supervises the activities of the CES. The Board of Directors should make a decision or call a vote within two weeks upon receipt of a bill proposed by ten or more Members in regard to an important issue of the Society or a request of a dismissal of a Director.
Section 7 The CES may designate a decision-making body charged with matters affecting the growth and future of the CES. This governing body will be termed as the CES Regents. The CES Regents shall appoint the Executive Director to a renewable three-year term. The Executive Director reports to the President. The CES Regents can advise, but not overrule the President and the Board on issues regarding annual operations. The CES Regents consists of three most recent past presidents, with the immediate past president as the Chair of the Regents (taking office on January 1 of the next year); the chairs of the Academic Publishing Council and the Finance Committee will be ex-officio voting members of the CES Regents, but will be required to withdraw when voting takes place regarding their respective Council/Committee affairs. In addition, two at-large members will be elected by the aforementioned five members; each at-large Regent will serve four years (with a two-year overlap). The President and Executive Director will be non-voting members of the CES Regents. The Executive Director, Academic Publishing Council, and the Financial Affairs Committee are expected to present periodic reports to the CES Regents.
Section 10 The CES is registered in the United States and subject to the relevant US laws and regulations. The headquarters office shall be located in the United States, and a majority of the Directors of Board shall work primarily in North America. With the consent of two-thirds of the Members, the Society may dissolve in accordance with procedures prescribed by relevant laws and regulations.
Section 11 When a majority of Directors approves a proposal, brought forth by at least five Members, to impeach the President, the CES Regents shall hold a vote among all CES Members on the proposal. The President will be dismissed if at least two-thirds of the vote caste is in favor of the proposal. If the President is dismissed, the designated Vice President (specified in Section 5) shall function as Acting President until such time when a new President is elected.
Amendment to the CES Institutional Membership (approved by the CES BOD on October 2, 2008)
Changes in the fee structure and service of the annual CES institutional membership
Academic institutions, business firms, and other organizations, who share CES' objectives, may apply for the CES Institutional memberships. The Institution members have rights to be list in the CES brochures, to post their job advertisements and event announcements on the CES web site, with approval of the CES Office, without additional charges, to enjoy one free annual subscription to CER, one free presentation slot at CES business meeting with the approval of the president, and to receive two complementary annual conference registrations.
The annual institutional membership is $850 or 6,000 RMB per year, which is subject to necessary adjustment in the future.
The above amendment will be effective from October 3, 2008
Amendment to the CES Membership (approved by the CES BOD on Sept 10, 2011)
1) The membership fees will be revised as follows:
$1,200 per year
$10,000 per year
$15 per year
Proof of student status (such as school registrar’s letter or copy of Student ID) may be required
$35 per year
$15 per year
Person living at the same address in a direct family of a regular member
$1,000 lump sum
$300 lump sum for senior members*
Persons who have served on the Board of Directors
2) Membership benefits
The Institution members are entitled to:
· be included in the CES Email list;
· post job advertisements and event announcements on the CES web site and CES Email net (CES-L), with the approval of the CES Office, without additional charges;
· make one free presentation slot at CES business meeting at ASSA/AEA annual meetings with the approval of the president;
· receive two complementary registrations for the CES annual conference; and
· be listed in the CES annual conference program.
The individual members are entitled to:
· be included in the CES Email list;
· voting and election rights defined in the CES bylaws;
· register for the CES annual conference at discounted early-bird registration rate;
· receive available logistic subsidies at the CES annual conference;
· propose to CES-organized panels at ASSA/AEA annual meetings without a submission fee;
· have submission fee to CER waived (pending on amendment of CES-CER Agreement);
· apply for CES-organized events such as the CES-Chow Short-term Teaching Program and be nominated for CES-administrated awards or grants such as Gregory Chow Best Paper Award; and
· join other CES events or activities that require the membership.
The above amendment will be effective from September 10, 2011.
The Bylaws of the CES Advisory Board
The Advisory Board is a consultancy body for the Chinese Economists Society (CES hereafter). The Advisory Board members provide voluntary service to CES in the nature of
a) being consulted by the CES President and Board of Directors for academic or scholarly guidance and advice;
b) making non-binding suggestions to the CES President and Board of Directors about the society’s events and activities;
c) not being involved in the management of the CES.
II. Board Membership
a) The Advisory Board consists of internationally renowned economists who have provided or have potentials to provide valuable services to the Society;
b) The Advisory Board has no more than twenty members;
c) The Advisory Board members are nominated on the consent of the nominee by the President and approved by the Board of Directors;
d) The President shall notify the Regents of the nomination and respond to the Regents about the ground of nomination.
e) Each Advisory Board member’s term is of three calendar years, renewable at the end of the term. The President is responsible of keeping a record of Advisory Board members’ terms with the advice of the Regents.
III. Termination of Board Membership
Membership of the Advisory Board may be terminated by any of the following events:
a) lack of continuous interest by the member to renew the term;
b) resignation by the member;
c) decease of the member;
d) a decision made by the Board of Directors in consulting with the Regents.