Meta Ruins of Myvolia
The Company Bank Contract
THE COMPANY BANK
As per the contract of membership regarding THE COMPANY OF THE MANTICORE (HERETOFORE to be known as THE COMPANY) a regulation of profit, exchange and maintenance shall be enforced. Any discrepancies of this agreement shall be enforced through a quorum (62%, currently 5) vote consisting of all ACTIVE (see membership) members present. The vote shall be directed by the acting TREASURER and all distribution and exchange shall be notated as per the directives of TREASURERSHIP (see membership executive).
Any member may initiate a clause or vote to accommodate a discrepancy.
1) Acquisition. All monies recovered through ADVENTUREING (see membership) not consisting of private enterprise or holding shall be immediately dispensed evenly amongst ACTIVE members minus a 10% tithe to THE COMPANY’s FUNDS (see membership). All items of value shall be collected and jointly maintained in THE COMPANY’s INVENTORY (see membership). The acquisition of any item by an ACTIVE member of THE COMPANY discovered through ADVENTURING shall be considered the sole and primary property of THE COMPANY. The penalty to support this directive shall be enforced through MARTIAL COMBAT or EXPULSION from THE COMPANY adjudicated by a quorum vote of all ACTIVE members. The vote shall be directed by the acting COMPANY LEADER as per the directives of LEADERSHIP (see membership) and accountable to all directives of succession.
The acquisition of LAND during ACTIVE membership in THE COMPANY shall be considered the property of THE COMPANY. All profit and loss of the holdings shall be administered by the acting TREASURER. A secondary BANK shall be created containing 2% of the current value of the properties: this BANK shall be populated by up to 75% of THE COMPANY BANK and personal payments from all ACTIVE and NONACTIVE members of THE COMPANY. The absence of equal payments shall be garnisheed by 30% of all shares until payment is completed. The secondary BANK shall be the sole exchange for monies and maintenance concerning the properties. If after the winter season, and the passing of a full year, a profit over the margin of 2% of the value of the property has been accumulated: even shares of the monies may be dispersed to all ACTIVE members of THE COMPANY as per the duties of the TREASURER.
The acquisition of TITLED LAND during ACTIVE membership in THE COMPANY shall remain the sole property of the member bestowed the property. The TITLED member of THE COMPANY shall be responsible to tithe to THE COMPANY an annual sum of 4% of all taxes collected or 10% of all profits collected from the holding (whichever is greater). The tithe will remain in perpetuity and transfer with new ownership of TITLE and LAND as per an amendment to the DEED. The profit THE COMPANY receives from the tithe shall be distributed equally among ACTIVE and NONACTIVE members annually starting one full year after the possession of the ACTIVE member’s TITLE and LAND.
2) Transactions. All INVENTORY owned by THE COMPANY may be sold for profit and shared equally between all ACTIVE members of THE COMPANY. Any transactions implemented immediately invoke the acquisition of the monies clause; thereby triggering the tithe of 10% to THE COMPANY’s FUNDS. A quorum vote must be maintained by ACTIVE members of THE COMPANY before any transaction can take place. This is to be administered and recorded by the TREASURER as per the directives of TREASURERSHIP. The TREASURER has the right to appoint any ACTIVE or NONACTIVE member as a representative to facilitate any transactions. Any EXECUTIVE (see membership) member may veto the appointment of a representative.
Due to the nature of product and inventory the TREASURER retains the right and directive to spend THE COMPANY’s FUNDS on maintenance, lodging and transport relating to the wellbeing of THE COMPANY and its ASSETS. In the event that the scale of transaction and inventory become too great for the TREASURER to maintain, he may appoint a QUARTERMASTER to protect, reconcile and distribute ASSETS of THE COMPANY. Any EXECUTIVE member may veto the appointment of a QUARTERMASTER.
Any 3rd party storage, lending or protection concern may be employed to facilitate THE COMPANY’s ASSETS given the agreement of all ACTIVE members through a quorum vote.
3) Lending. INVENTORY may be used by ACTIVE or INACTIVE members of THE COMPANY through a temporary loan. The property must be permanent in nature (non-expendable) and actively not pursued by any other member. Lending in this fashion costs the LENDEE 20gp per month per item. If there is a second party pursuing the loan, a vote by the EXECUTIVE shall determine the LENDEE. Any member of the EXECUTIVE may revoke the loan immediately without recompense for monies collected. If said property is damaged or lost, the LENDEE is responsible for the full assessed value of the property or like replacement of the property. Payment shall be made immediately or garnisheed by up to 30% of all shares until payment is completed. INVENTORY that has been made available to purchase immediately cancels any lending; bidding may commence as per Member Purchase.
THE COMPANY may lend monies to any ACTIVE or NONACTIVE member with the approval of a quorum vote. The lending shall not exceed 50% of the value of THE COMPANY’s ASSETS. The loan shall be repaid before the end of one year with an interest of no less than 10%. Failure to repay the loan will increase the interest to 20% (or double of the agreed upon interest) and invoke a 50% garnishee from the LENDEE’s shares until full payment is completed.
4) Gifting. INVENTORY may be gifted to ACTIVE or INACTIVE members of THE COMPANY through a quorum vote of all ACTIVE members. A gift in this fashion is never considered a share of acquisition and may never be revoked through vote or EXECUTIVE. The property is solely the property of the member.
5) Proxy Share. INVENTORY may be substituted for a share of acquisitions if all ACTIVE members agree to the exchange. The value of the INVENTORY shall remain at assessed rates without discount. The value of the property may not exceed the value of the share; else see Member Purchase. [While this may seem foolish for purchase, it is very convenient for the distribution of expendable items]
6) Member Purchase. INVENTORY may be made available for membership purchase through a quorum vote. The availability of purchase opens up the potential for ACTIVE and NONACTIVE membership bidding on the property. The starting price of the property shall be one half of the assessed value. ACTIVE members have the option to pay with installments while NONACTIVE members must pay in full.
An installment purchase may only be initiated by a successful bid with a down payment of 10% of the final bade price. Installments may be made through 12 equal monthly payments or through a 50% tithe per share until payment is complete.
7) Company purchase. While the TREASURER has discretionary spending authority, any purchases that don’t fall under maintenance, lodging and transport require an EXECUTIVE vote or an ACTIVE member quorum vote. Any purchase under 1000gp may be handled by an EXECUTIVE vote; while any purchase of 1000gp or greater requires an ACTIVE member quorum vote. If this leads to THE COMPANY purchasing property from an ACTIVE or NONACTIVE member, all purchases are limited to 50% of the assessed value of the item.
8) Member Death. In the event that an ACTIVE member dies THE COMPANY immediately claims ownership of all the deceased possessions on person—including mounts, luggage and corpse. THE COMPANY will assume the responsibility of all reasonable funerary costs including transport and disposal of the corpse. THE COMPANY will make an effort to administer any last requests or statement of WILL; but, does not guarantee full compliance. Should the resource and will be available, resurrection magic may be employed through a unanimous vote by all ACTIVE members. The value of the resources used to resurrect shall be paid by the newly resurrected member through a 50% garnishee on all shares until payment is completed. The repayment of resources used may be adjusted by any unanimous vote of all ACTIVE members.