Important News for the PNW CPCU Society Chapter

Tue, 12/03/2013 - 15:12

Due to the integration of The Institutes and the CPCU Society, the Society has put in considerable effort to better serve the chapters from a compliance stand-point. This requires a massive effort to streamline and update bylaws and other issues.

 

 Fiscal Year: The Society has amended their fiscal year to align with The Institutes and is requiring all chapters to comply with the Jan1-Dec31 fiscal year. Our Chapter is on a July1-June30 fiscal year, but will be changing this by end of year 2013.

 

  • Not-for Profit: Our Not-for-profit status has been confirmed with the IRS.
  • Incorporation: As part of the compliance review, it was brought to our attention that our incorporation in the state ofWashingtonhad lapsed.  We reincorporated inWashingtonState.  However, the Society is offering all chapters the opportunity to incorporate inPennsylvaniawhich will allow the Society to be very involved in the compliance to continue incorporation for the chapter in the future. The board has voted to incorporate in PA to take advantage of the ongoing incorporation compliance offered by the Society.
  • Bylaws: The Board has reviewed and approved the proposed bylaws. Of course, any bylaw update must be reviewed and approved by the members of our chapter. We are waiting on the final documents from the Society, but with 100+ chapters this could take a few more months. Once we receive the final documents, we will be sending them via email to all members and voting on the proposed bylaws as per our existing bylaws.

 

 Thank you for being a member of the Pacific Northwest CPCU Society Chapter. If you have any questions regarding compliance, please contact the President Elect, Vicki Webb, at 510-448-5029 or vwebb@markelcorp.com


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