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SECTION 3, DISBURSEMENTS. <br /> <br />No disbursement of funds of this association shall be made except by checks drawn <br />by the treasurer and countersigned by the president. Except when issued for salaries, <br />pensions, and other fixed charges, the exact amount of which has previously been <br />determined by the Board of Trustees or the members, no check shall be issued until <br />the claim to which it relates has been approved by the Board of Trustees. <br /> <br />SECTION 4, DEPOSITS. <br /> <br />All money belonging to this association shall be deposited to the credit of the <br />association in such banks, trust companies, or other depositories as the Board of <br />Trustees may designate. <br /> <br />SECTION 5, INVESTMENTS. <br /> <br />The funds of this association may be invested by the Board of Trustees in such <br />income-paying properties and securities as may be authorized by law. <br /> <br />ARTICLE IV, MEMBERSHIP. <br /> <br />SECTION 1, APPLICATIONS. <br /> <br />Applications for membership may be made at any regular or special meeting of the <br />Board of Trustees. The application shall be accompanied by a membership fee of <br />$25.00 and then laid over for one month for consideration. During this time, the <br />Board of Trustees shall conduct an investigation to determine if the applicant, due to <br />some medically determinable physical or mental impairment or condition, would <br />constitute for the association a predictable and unwarranted risk of liability for benefits <br />at an earlier than minimum age specified for receipt of a service pension. If no such <br />impairment or condition exists, the Board of Trustees shall appoint the applicant to <br />membership in the association. <br /> <br />SECTION 2, ANNUAL DUES. <br /> <br />All members shall pay the sum of $25.00 per annum as dues. Dues shall be payable <br />at the time of the regular annual meeting. Any member failing to pay annual dues <br />within 30 days after the date of the regular annual meeting shall be mailed a written <br />notice of his/her delinquency by the secretary of the association. If the dues are not <br />paid within 30 days after this notice is mailed, his/her membership in this association <br />shall automatically terminate. Any members so dropped may be reinstated upon <br />payment of the delinquent dues and a fine of $10.00, but the application for <br />reinstatement shall fkst be approved by the Board of Trustees. <br /> <br />SECTION 3, EXPULSION OR RESIGNATION FROM MEMBERSHIP. <br /> <br />Expulsion, resignation, or not meeting the by-law requirements of the Ramsey Fire <br />Department shall terminate the membership of the member so resigning, expelled or <br />removed; provided, however, that any member who has served for at least the <br />minimum number of years required by Article VII of these by-laws for vesting of <br />pensions rights as an active member of the Ramsey Fire Department, shall retain <br />his/her membership in this association, regardless of resignation or removal, subject <br />to payment of dues and such other regulation which may from time to time be <br />imposed. <br /> <br />RAMSEY FIRE DEPARTMENT RELIEF ASSOCIATION BY-LAWS <br />Page 4 of 8 <br />11-13-90 <br /> <br /> <br />