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documents:manual:finance [2021/09/17 17:47 UTC]
wikiperson209 ↷ Links adapted because of a move operation 		documents:manual:finance [2023/05/21 19:18 UTC] (current)
ezgi [Due Dates, Late Fees, and Financial Standing]
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   * Dues are to be deposited on or before the 7th of the month, or they are considered late.   * Dues are to be deposited on or before the 7th of the month, or they are considered late.
-  * If a member's dues are late and more than $100 is owed, they will incur a $10 fine on top of their dues <sub>[[meetings:archive:2016-03-06#agenda_item_1|[HM 3-6-16]]]</sub>. +  * If a member's dues are late and more than $100 is owed, they will incur a $10 fine on top of their dues. The fine will be assessed on the 8th of the month. <sub>[[:meetings:archive:2023-03-12#agenda_item_1|[HM 3-12-23]]]</sub>. 
-  * If after the 15th of the month a member still owes more than $100, the will incur a second $10 fine on top of their dues <sub>[CHEA Contract]</sub> <sub>[[meetings:archive:2016-03-06#agenda_item_1|[HM 3-6-16]]].</sub> +  * If after the 15th of the month a member still owes more than $100, they will incur a second $10 fine on top of their dues. This fine will be assessed on the 16th of the month. <sub>[CHEA Contract]</sub> <sub>[[:meetings:archive:2023-03-12#agenda_item_1|[HM 3-12-23]]].</sub> 
-  * Late fees accrued on any unpaid debts while a member is in a hospital, including a psychiatric hospital, shall be waived <sub>[[meetings:archive:2015-10-04#agenda_item_4|[HM 10-4-15]]]</sub>.+  * Late fees accrued on any unpaid debts while a member is in a hospital, including a psychiatric hospital, shall be waived <sub>[[:meetings:archive:2015-10-04#agenda_item_4|[HM 10-4-15]]]</sub>.
  
-<sub>[[meetings:archive:2013-04-21#move_to_adopt_the_following_policy_for_membership_dues_gatlin|[HM 4-21-13]]]</sub>+<sub>[[:meetings:archive:2013-04-21#move_to_adopt_the_following_policy_for_membership_dues_gatlin|[HM 4-21-13]]]</sub>
  
-If, on the 16th day of a month, a member is overdue on an amount of at least $100, the member has fallen out of good standing with the coop and is considered "Not in Good Standing" (NGS). In order for the NGS member to return to good standing, he or she must contact the [[:documents:officers#bookkeeper|Bookkeeper]] and reach an agreement on a payment plan. The [[:documents:officers#bookkeeper|Bookkeeper]] may also reach out to NGS members to assist them in returning to good standing.+If, on the 16th day of a month, a member is overdue on an amount greater than $250, the member has fallen out of good standing with the coop and is considered "Not in Good Standing" (NGS). In order for the NGS member to return to good standing, one must contact the [[:documents:officers#bookkeeper|Bookkeeper]] and reach an agreement on a payment plan. The [[:documents:officers#bookkeeper|Bookkeeper]] may also reach out to NGS members to assist them in returning to good standing. The $250 limit goes into effect July 1st, 2023. <sub>[[:meetings:archive:2023-03-12#agenda_item_2|[HM 3-12-23]]]</sub>
  
-If, by the 21st day of the month, a payment plan agreement is printed and signed by the NGS member, or the amount due plus any late fees have been paid in full, the member returns to good standing. Otherwise, the member is to be given a notice to vacate. A member who has violated the terms of a payment plan agreement is also no longer in good standing and is to be given a notice to vacate. The [[:documents:officers#bookkeeper|Bookkeeper]] must post the notice to vacate and also announce its occurrence on the official coop mailing list by the end of the 21st day of the month.+If, by the 21st day of the month, a payment plan agreement is printed and signed by the NGS member, or the amount due plus any late fees have been paid in full, the member returns to good standing. Otherwise, the member is to be given a notice to vacate. A member who has violated the terms of a payment plan agreement is also no longer in good standing and is to be given a notice to vacate. The [[:documents:officers#bookkeeper|Steward, Treasurer or Membership Coordiator]] must post the notice to vacate and also announce its occurrence on the official coop mailing list by the end of the 26th day of the month.
  
 An notice to vacate given to an NGS member for financial reasons may be rescinded by one of the following means, before the time limit to vacate (as written on the notice) has expired: An notice to vacate given to an NGS member for financial reasons may be rescinded by one of the following means, before the time limit to vacate (as written on the notice) has expired:
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   * The NGS member brings an agenda item to a Sunday [[:documents:manual#house_meetings|house meeting]] proposing the rescission of the notice to vacate and (if applicable) alternative payment plan, and the proposal is accepted.   * The NGS member brings an agenda item to a Sunday [[:documents:manual#house_meetings|house meeting]] proposing the rescission of the notice to vacate and (if applicable) alternative payment plan, and the proposal is accepted.
  
-<sub>[[meetings:archive:2014-09-14#agenda_item_3|[HM 9-14-14]]]</sub>+<sub>[[:meetings:archive:2014-09-14#agenda_item_3|[HM 9-14-14]]]</sub>
  
 On the 21st of the month, Associates with an outstanding balance of over $100 shall have their Associate Membership Contract terminated. On the 21st of the month, Associates with an outstanding balance of over $100 shall have their Associate Membership Contract terminated.
  
-Any member who leaves the co-op not in good standing cannot sign a new contract until they have returned to good standing <sub>[[meetings:archive:2015-08-02#agenda_item_3|[HM 8-2-15]]]</sub>.+Any member who leaves the co-op not in good standing cannot sign a new contract until they have returned to good standing <sub>[[:meetings:archive:2015-08-02#agenda_item_3|[HM 8-2-15]]]</sub>. 
 + 
 +Fines for infractions committed by a member in a single month (late payments, no-shows, etc.) shall be capped at $75. This does not include bounced check fees or recompense for coop property loss or damage. Over $75 in fines may still be levied in a single month so long as a single month's infractions do not account for more than $75 of the total amount levied. Members may request past fines be reduced to $75 per single month's infractions. Such requests must be sent to the house treasurer.<sub>[[:meetings:archive:2018-09-19#agenda_item_1|[HM 9-23-18]]] [[:meetings:2021-12-12#agenda_item_1|[HM 12-12-21]]]</sub>
  
-Fines for infractions committed by a member in a single month (late payments, no-shows, etc.) shall be capped at $50. This does not include bounced check fees or recompense for coop property loss or damage. Over $50 in fines may still be levied in a single month so long as a single month's infractions do not account for more than $50 of the total amount levied. Members may request past fines be reduced to $50 per single month's infractions if those infractions occurred on or after March 1st, 2018. Such requests must be sent to the house treasurer.<sub>[[meetings:archive:2018-09-19#agenda_item_1|[HM 9-23-18]]]</sub> 
  
 ==== Payment Plans ==== ==== Payment Plans ====
documents/manual/finance.1631900858.txt.gz · Last modified: 2021/09/17 17:47 UTC by wikiperson209

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