Article I – Name
Section 1: The name of the club will be Laker Asset Management (LAM).
Article II – Purpose
Section 1: The purpose of the Laker Asset Management club will be to give members the opportunity to effectively apply the theoretical skills they have learned throughout their business courses into the stock market. Members will also develop personal skills, such as appropriate self-presentation and self-marketing that will assist them in future business related events. Students can gain a deeper understanding of the world of finance and economics through experiences with this club. All activities and programs carried out by the club will help promote intellectual growth while maintaining ethical standards to ensure members develop into future leaders.
Article III – Membership
Section 1: Membership of this club will consist of regularly enrolled full-time undergraduate students of Mercyhurst University.
Section 2: Members do not need to be business majors.
Section 3: Non-discrimination clause. Mercyhurst University values diversity and is committed to the goal of achieving equal opportunity for all. For that reason, Mercyhurst abides by federal, state and local law in admissions, employment and all services and programs provided. Mercyhurst does not unlawfully discriminate on the basis of race, color, religion, creed, sex, citizenship status, ancestry, national or ethnic origin, age, familial status, sexual orientation, physical or mental disability, military or veteran status or any other legally protected characteristic or because of any individual’s legally protected activities. Mercyhurst complies with federal, state and local legislation and regulations regarding nondiscrimination. This policy applies to faculty, administration and staff, applicants for employment, students and applicants for educational programs and activities.
Article IV – Board.
Section 1: The board must consist of a minimum of three members and as many as seven maximum.
Section 2: The election of new board members must be done via unanimous vote from the current board.
Section 3: President and Vice President must be on the board.
Article V – Duties of the board members
President
- Must be elected from the board
- Serve as the point person in meetings and keeping them on track
- Communicate with each Director on a weekly basis to touch base on their sector’s progress
- Reserve rooms for weekly meetings at least one week ahead of time
- Serve as a liaison with the club adviser
- Consistently keep portfolio up to date, especially after transactions in the portfolio
Vice President
- Must be elected from the board
- Presiding over the club meetings in the absence of the President
- Assuming the duties of the President on an interim basis if the President is unable to complete his or her term
- Be the liaison between the club officers and the board
- Assist the president in contacting the adviser, finance department, and endowment committee
- Take attendance in absence of Secretary
Board members
- Set overall strategy for the club
- Day-to-day operations
- Portfolio management
- Create and govern bylaws and policies
- Serving as principal liaison with Mercyhurst University and the Mercyhurst Alumni Community
- Assist sectors in performing research
- Organize speakers for upcoming meetings
- Give in-class presentations to increase enrollment into the club
Article VI – Election of officers
Section 1: Club members can voice themselves as candidates for a position as an officer to a board member via email.
Section 2: Officer positions are re-elected each semester by majority vote of the board.
Section 3: Voting occurs after the third club meeting of the semester.
Section 4: Officers shall retain their positions until the next voting period. A secondary replacement will be put in place if an officer resigns.
Article VII – Duties of officer positions
Treasurer
- Approving distribution of funds on properly authorized orders or invoices
- Maintaining the permanent record of all financial matters regarding day-to-day operations
- Assisting in preparation of event-based budgets and related record keeping
- Spending money for club meetings
- Take on fundraising
Secretary
- Giving notice of the meetings via email to all club members
- Taking notes and attendance at the meetings
- Maintaining a permanent record of all club meetings and events
- Updating website and updating PowerPoints
- Retrieve new club member’s emails
Chief of Marketing
- Build the club as a brand on social media 2-4 times a week
- Twitter, Instagram, LinkedIn
- Organizing club fair activities
- Create posters and fliers for advertising meetings and events
Article VIII – Advisor
Section 1: The advisor must be an active members of the faculty, staff, or administration of the main campus of Mercyhurst.
Section 2: A person may not advise more than two RSCOs.
Section 3: The advisor must take an active role in assessing the needs of the club.
Section 4: The advisor will act as a liaison between Mr. Myron and the Laker Asset Management club. He will also provide guidance and insight when necessary to the club members.
Section 5: The advisor holds the power to break a tie in the event of a stalemate vote within the board.
Article IX – How trades will be executed
Section 1: Each investment decision needs a 75 % approval from the board.
Section 2: Each board member signs the letter stating the trade, with their respective vote
Section 3: Club President will contact the advisor and get his approval and signature.
Section 4: When the advisor approves he will send the letter to Mr. Myron, who will execute the trade.
An example of this letter can be found on the next page
Article X – Changes in Constitution
Section 1: Changes in the constitution must be approved by 75 % of the board members.