ARTICLE X - MISCELLANEOUS

Answer

The Club year shall be the same as the fiscal year of the Club and shall run from January 1 to December 31.

The President, or the Vice President, and the Chief Financial Officer or the Secretary, or such other officers as the Board of Directors may select for that purpose, are authorized to vote, represent, and exercise on behalf of this corporation all rights incident to any and all voting securities of any other corporation or corporations standing in the name of this corporation. The authority granted in these bylaws to the officers to vote or represent this corporation arising from any voting securities held by this corporation in any other corporation or corporations may be exercised either by the officers in person or by any person authorized so to do by proxy or power of attorney duly executed by the officers.

The Club shall maintain one bank checking account and one bank savings account. Only the Chief Financial Officer, President or the Secretary shall be authorized to sign checks, drafts or orders for the payment of money on behalf of the Club from the checking account, which shall maintain a maximum balance of $15,000.00 and shall be replenished as needed from the savings account. Only the President or the Executive Vice President shall be authorized to transfer funds from the savings to the checking account. All monies received shall be deposited into the savings account, except for event attendance fees. No monies can be withdrawn directly from the savings account.

The President shall designate a Member of the Club, preferably someone with a legal background, to review all agreements and contracts of the Club prior to their execution. All such agreements and contracts must be signed by an Officer of the Club to be legally binding.

Club Members have the right to receive a copy of the bylaws of the Club upon request to the Secretary.


The foregoing Restated Bylaws were adopted at a meeting of the members of The Wharton Club of Southern California held on September 21, 2006.