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Statutes

6. Finance

  1. The financial resources of the Society shall consist of membership dues, donations, contributions and income, if any, from other sources.
  2. The membership dues to be paid by members shall be determined by the Executive Committee. The rates may be different for regular members from different countries and for institutional members.
  3. The Officers of the Society and members of the Council shall serve without compensation. They may be reimbursed for travel expenses associated with official functions at rates approved by the Executive Committee in advance of their commencement.
  4. The funds of the Society may be used for the following purposes subject to approval by the Executive Committee:
    1. To pay for the travel expenses of speakers, whether members of the Society or not, invited to present papers at the scientific meetings of the Society subject to the availability of funds and the approval of the Executive Committee.
    2. To pay for research or development projects consistent with the objectives of the Society subject to the availability of funds and the approval of the Executive Committee.
    3. To cover the costs of lunch, coffee break or other reasonable meals for Council and Executive Committee meetings.
  5. The Society may undertake the administration and expenditure of grants or funds for purposes consistent with the objectives of the Society.
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Statutes

6. Finance

  1. The ISI Permanent Office shall administer the funds, maintain the accounts and provide the financial records of the Society in collaboration with the President-elect of the Society.
    1. To pay for direct non-trivial Section costs, at the discretion of the President of the Society, as well as indirect Section costs (in alignment with the 'overhead cost agreement' between the ISI Permanent Office and ISI Sections) as specified by the ISI Permanent Office, at the discretion of the President of the Society.
  2. The Society shall indemnify and hold harmless the Council Members and Officers of the Society, their heirs, executors and administrators, and estates and effects, respectively from time to time and at all times from and against
    1. All costs, charges and expenses which the Council Member or Officer sustains or incurs in or about any action, suit or proceeding brought, commenced or prosecuted against him or her or in respect of any act, deed, matter of thing whatsoever, made, done or permitted by him or her, in or about the execution of the duties of his or her offices or in respect of such liability; and
    2. All other costs, charges and expenses that he or she sustains, or incurs in or about or in relation to the affairs thereof, except if such costs, charges or expenses as are occasioned by his or her own willful neglect or default.
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