March 19, 2021   by
An image of members creating a constitution

Is a constitution important in a Chama? To create a successful Chama, it is important for its members to have a constitution. These are the guidelines of how the Chama will be governed. A constitution is also critical as it helps resolve queries in an Investment club. Below is a sample of a Chama or Investment club Constitution. To learn more about Chamas and why you should join them, click here and here.

Article I of the Chama Constitution: Investment Group’s Name

This step is the first and most basic of all the Chama constitution guidelines. It should clearly state the legal and official name of the investment club. For instance, the first article can be: The name of our organization will henceforth be the Wakanda investment Club.

Article II of the Chama Constitution: Vision Mission and Objective

The second part of the constitution is to state a clear vision, mission, and objective of the Chama. The article can include details such as the group’s main reason for the foundation. Here is an example of the second article. The Wakanda club was founded to serve as an opportunity for all the work members, who are interested in investing to develop their knowledge in this field. It will also be a formal way for all members to pool money and grow financially through our investment club.

Article III: Membership and Membership Fees

The third part of the article helps clarify details about membership in the club. It answers questions such as who can be a member and the terms of their membership. For instance, We the Wakanda Chama will accept any potential members from our firm. This is irrespective of race, gender, and social class. Additionally, membership fees will be determined as per the membership comitees decision.

Article IV: The Executive Committee

The Executive Committee is a group of people that are responsible for making sure the Chama runs smoothly. This part of the constitution is important as the officials run the Chama. The control and management of the club shall vest in the Executive Committee. They shall constitute the officers of the Association. There will be 8 officers, whose overall qualifications will be decided upon by the club. The general duties of the officers are as follows:

Section 1: Co-Chairs

The three co-chairs will facilitate all gatherings of the club and they will be the official representatives of the Wakanda club. The co-chair(s), with the approval of the Executive Committee, will assemble standard and special meetings of the club. They will equitably delegate the obligations of orchestrating speakers and visits. They are also in charge of publicizing the group, enlisting individuals and new members, and making important arrangements for future occasions. These obligations will be sharable similarly by all members of the Executive Committee.

Prior to the club registration deadline set by the Office, the President, in consultation with the other officers shall appoint a Nominating Committee who shall be responsible for presenting a slate of Nominees for the respective offices of the Club a minimum of one week before the Annual Meeting.

Section 3: Recruiter

Recruiter: The recruiter is in charge of initiating all members into the group. The recruiter should also collect dues. They must ensure payment is made on time by all current members of the investment group.

Section 4: Public Relations Officer

The individual in charge of Public Relations shall be responsible for the Investment Club’s monthly newsletter. The member shall be responsible for the Investment Club’s publications. Therefore, such members shall also be responsible for coordinating the planned activities of the group.

Section 5: Treasurer

The treasurer shall be responsible for keeping records of all the receipts and expenditures of the club. He or she shall be responsible for the monthly audits and any special audits. They will ensure they report to either or both Senate Club Auditors.

Section 6: The Secretary

The secretary will be in charge of all the meetings. The member will also keep all official minutes of the business meetings of the club and notify members of the regular and special meetings.

Section 7: Coordinator

The coordinators shall be responsible for offering and coordinating social and service activities for club members. The coordinator shall be responsible for helping the board plan the activities of the club. He/she is accountable for setting up the meeting place, the equipment, and materials needed for the meeting, and purchasing any additional items for the meeting. Also, she or he will also be responsible for writing thank you letters to anybody the club invites on campus as their guests. They will also write invitation letters to all public speakers invited to the meeting.

Article V: Elections

Chama Constitution: A person voting by secret ballot

Members will elect an officer for a one-year term beginning and ending in the spring semester of the academic year. Officers may stand for re-election if they are still an employee of the company. The election of the officers will occur at an Annual Meeting of the Club called for the explicit purpose of conducting such elections. The members should give the office notice within a minimum of one week before the actual meeting. The Co-chair shall fill, by appointment, any vacancies that occur on the Executive Committee.

Section II: The Impeachment process of officers is as follows:

Members can impeach an officer at any meeting of the Club by a two-thirds (2/3) vote of the total regular members of the investment club. This will be provided that a seven (7) days written notice of the proposed impeachment has been given to the member. Impeachment may be proposed by the Board of Directors, the club advisor, or by more than half of the members signing a petition for that purpose.

Section III: Addition of Officials

The Club’s membership may, from time to time, elect such other officers as the members deem desirable to assist in carrying out the business and affairs of the Club. Such assistant officers shall have the power and duties of other officers who they elect. The power should be in use to assist in their responsibilities. The members shall authorize and delegate to such assistant officers. This is together with such other powers and duties.

You can read the second part of the Chama constitution here.

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This post was written by Cynthia Njoki

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