2. AGENT
    

   The registered agent of the PLVC shall be the current Secretary.

The PLVC bank account(s) and/or CDs are held with:

American Marine Bank
9500 Oak Bay Road
Port Ludlow, Washington
(360) 437-8805
 

The signatories on the account(s) and/or CDs shall be the President, the Vice-President, the Secretary and the Treasurer.

Checks in the amount of one thousand dollars or less will bear the signature of one officer. Checks in the amount of more than one thousand dollars shall require two signatures from among the authorized signatories.

All checks will be printed and identified with the name and address of the Council.

No checks shall be made out to "cash"'.

No member or Director shall obligate PLVC to any commitment, financial or otherwise without the approval of the PLVC Directors, with the following exceptions:

1. The PLVC President may obligate the PLVC to an amount not to exceed $500 without the approval of the PLVC Directors or its membership during any given year.
   
    
2. The PLVC Vice-President may obligate the PLVC to an amount not to exceed $250 without approval of the PLVC Directors or its membership during any given year.
   
    
3. The PLVC Secretary and Treasurer may obligate the PLVC to an amount not to exceed $150 without the approval of the PLVC Directors or its membership during any given year.

Notwithstanding the above. no one including the Directors shall obligate the PLVC membership to an amount exceeding the financial assets of the PLVC.

As per the Articles of Incorporation of the PLVC, a 60-percent affirmative vote of the Voting Membership is required for the Corporation to obtain title to, sell, or lease real property or to establish or levy assessments on the Voting Membership.

The Port Ludlow Village Council fiscal year runs from October 1 through September 30.

The PLVC Directors may establish a reserve account without incurring penalty as a non-profit corporation provided the funds are dedicated to and identified for specific use.

The Treasurer shall maintain an Income and Expense accounting of each PLVC committee.

4. PAYMENTS TO BUSINESSES AND/OR INDIVIDUALS

   An itemized statement reflecting the date and nature of services performed, and/or specifying the item(s) purchased shall be presented to the PLVC Directors in order for payment to be made.

   Individuals may be compensated for expenses related to business and/or activities performed on behalf of the PLVC by submitting an itemized statement or itemized receipts.

5. CONTRACTS

   All contracts obligating the PLVC must be ratified by the PLVC Directors as stated relative to "commitments" under "Budget and Finance".

   All contracts involving the PLVC shall be submitted in writing and shall be made available for review by the PLVC Directors prior to the meeting at which the contract shall be discussed and voted upon.

6. PLVC MEMBERSHIP RECORD

   The PLVC Directors shall compile and maintain a record of the PLVC membership in accordance with the requirements in the bylaws

7.  CORRESPONDENCE

   All correspondence, including billing statements, sent out by the Port Ludlow Village Council shall be identified with PLVC and the permanent mailing address.

   The PLVC has and shall maintain an inventory of letterhead and envelopes for the use of Directors and committees to accommodate this identification.

8.  INSURANCE

   The PLVC insurance policy is held with:

   Homer Smith Insurance Inc.
   804 Water Street
   Port Townsend, WA 98368
   (360)385-3711
   
    

   The current liability insurance covers the Board and Officers, and all committee members and Port Ludlow property owner volunteers involved in PLVC endeavors for "Errors and Omissions" only.

   The insurance policy runs with the PLVC fiscal year from October 1 through September 30.

   The insurance policy is negotiable and the PLVC Directors may entertain other competitive bids prior to roll over.

Committee Guidelines

1. Committees shall maintain a complete and current roster of active committee members.  Changes in committee membership shall be sent to the Council Secretary who shall update the Committee roster.

2. Committee shall be responsible for minutes of all meetings reflecting issues of discussion and any positions taken by vote.  Minutes shall be provided to the PLVC Secretary for inclusion in the Councils records. 

3. Committee shall present a written report to the PLVC at its monthly General Meeting and provide a copy of this report to the Secretary for inclusion in the Council minutes. 

4. Committees shall bring all proposed positions to the PLVC for a final vote prior to representing a position to any individual or organization.  Such position proposal or request for action by the Council shall be in writing.

5. Committee correspondence shall be presented to PLVC for approval, signed by the committee chairman and/or the PLVC President as deemed appropriate.

6. Committees shall submit a budget proposal for the following fiscal year, every August, to the PLVC Treasurer for inclusion in the PLVC budget considerations.

7. Committee Chairman must approve expenditures from the allotted budget and inquire from the Treasurer whether funds are available.  Invoices or similar proof of expenditure must accompany request for payment of expenses or reimbursement. 

8. The President of the Council shall appoint committee Chair annually.  Members of committee shall be residents of Port Ludlow.  At least two members of each committee will be Council members, who will have a vote the same as any other committee member.

11. DOCUMENTARY EXHIBITS

    A chart reflecting the annual cycle of activities and financial obligations on a month-by-month basis shall be compiled and revised as necessary by the Treasurer.

    A master record of major or historic position statements ratified by vote of the PLVC Directors or membership shall be compiled by the Secretary.

13.  ELECTIONS FORMAT

    —to be prepared later by the Membership & Elections Committee—