Lotus King Trust Bylaws

1. Name and domicile of the Association

The name of the association is Lotus King Trust RY and its domicile is in  Helsinki.

2. Purpose and nature of the Association’s activities

The purpose of the association is to act as a positive factor in the propagation and practice of Buddha Dharma and Tibetan Buddhist traditions, as well as supporting the meaningful development of remote Transhimalayan communities.

2.1. To achieve its purpose, the Association:

  • May organize courses, practice and learning sessions, and other similar activities
  • May organize competitions, exhibitions, trips, camps, and other events
  • May organize celebrations, concerts, shows, and other similar events
  • May maintain electronic communication channels for the association
  • May publish the association’s newsletter and other communications in different channels
  • May participate in public discourse in relevant matters
  • May collect and share information and conduct research
  • May maintain a performing group consisting of members
  • May organize trips for its members related to the activities of the association
  • May support its members’ expenses related to competitions
  • May acquire materials and equipment for the association
  • May organize space that its members can use
  • May make proposals and initiatives for increasing opportunities to practice
  • May make proposals, initiatives and conduct research, and give statements to other organizations and the authorities
  • Work together with authorities, organizations, corporations, and private persons

2.2. To support its activities, the Association may:

  • Organize fundraising and other similar activities
  • Organize events where tickets are sold
  • Accept financial contributions, donations, and wills
  • Own immovable and movable property
  • Form sponsorship agreements

3. Members

Based on an application, the Board can approve as its member of the Association a person that accepts the Association’s purpose. A person or other legal entity who wants to support the association and its activity can be accepted as a supporting member. Members and supporting members are approved by the Board, based on application.

Based on the proposal of the Board, a person who has in a significant manner supported and forwarded the activity of the association, a person can be declared as an honorary member or as an honorary chairman.

4. Membership fees

The joining fee and the annual fee for members and supporting members are decided in the annual meeting of the association.

5. Board of directors

The matters of the association are managed by the board, which is elected in the annual meeting, and which has a Chairman and 2-10 members. 

The term of office of the Board is the calendar year. 

The Board selects from amongst its members a Vice President and a Secretary, and the Board also selects a Treasurer as well as other necessary personnel from amongst its members or from outside the Board.

The Board meets on the invite from the Chairman, or in the case of the Chairman not being able to do so, on the invite of the Vice-Chairman, when they deem it necessary or when at least half of the members of the Board so request. 

The Board quorum is established when at least half of the members, together with either the Chairman or the Vice-Chairman are present. 

Voting follows the majority rule. When a majority can’t be established, the vote of the Chairman decides, except in elections, when random pick will decide.

6. Signing authority for the Association

The Board’s President, Vice President, Secretary, or Treasurer may sign on behalf of the Association, two together.

7. Accounting period and performance audit

The accounting period of the Association is the calendar year.

8. Meetings of the Association

It is permitted to participate in the meeting of the Board or the annual meeting via mail, electronically, or by the means of other supporting devices, before and during the meeting, if the association so decides. The annual meeting decides the way in which elections and voting are organized.

The Association holds on General Meetings annually between January and May.

In the meetings of the Association, every member, honorary chairman, and an honorary member has one vote. Supporting members have the right to be present, and to speak out. The decision of the Association shall be the opinion that has the support of more than half of the votes unless the rules of the Association say otherwise.

Voting follows the majority rule. When a majority can’t be established, the vote of the Chairman decides, except in elections, when random pick will decide.

9. Convening the meetings of the Association

The Board must convene the meetings of the Association at least 7days before the meeting by email.

Invitation to the meeting has to be sent to members via the website of the Association or in a social media group maintained by the Association. 

10. General Meetings

The following matters are handled at the Spring General Meeting of the Association:

  1. Opening the meeting
  2. Selecting the chairperson, secretary, two examiners for the minutes, and two vote counters
  3. Establishing the legality and quorum of the meeting
  4. Approving the agenda for the meeting
  5. Presenting the financial statement, annual report, and a statement from the performance auditors
  6. Deciding on the confirmation of the financial statement and granting the Board and other responsible persons the freedom from liability
  7. Confirming plan, budget, and membership fees
  8. Electing the Chairman of the Board and other members of the Board
  9. Electing one or two inspectors and vice inspectors, or one or two accountants and vice accountants
  10. Handling the other matters mentioned in the meeting invitation 

If a member of the Association wants to include some specific matter in the agenda of the meeting, they must notify the Board of this in writing sufficiently in advance so that the matter can be included in the meeting invitation.

11. Changing the rules and dissolving the Association

The decision on changing the rules and dissolving the Association must be made in a meeting of the Association by a majority of at least three-quarters (3/4) of the votes given. The meeting invitation must mention that the meeting will include a motion to change the rules or dissolve the Association.

If the Association is dissolved, its funds will be used to advance the purpose of the Association in the manner specified by the meeting that decided to dissolve the Association If the Association is abolished, its funds will be used for the same purpose.