Central Arizona Chapter of Enrolled Agents


Article XII        Indemnification and Insurance                         

12.01 Indemnification: To the fullest extent permitted by law, the Chapter  will indemnify and hold harmless any and all past, present, or future Directors and Officers, as identified and defined in these bylaws, and, in its discretion and in accordance with law, may indemnify and hold harmless any agent or employee of this Association of and from all liabilities, expenses, and counsel fees reasonably incurred in connection with all claims, demands, causes of action, and other legal proceedings to which they may be subjected by reason of any alleged or actual action or inaction in the performance of the duties of such Director, Officer, employee, or agent on behalf of the Chapter.

12.02 Insurance: The Chapter will have the right to purchase and maintain insurance to the full extent permitted by law on behalf of all its agents, including Officers, Directors and employees, against any liability asserted against or incurred by the agent in such capacity arising out of the agent’s status as such.   

12.03 Chapter Records All Members and Associates who have official correspondence, papers, tax records and records or files (“Turnover Books”) in their possession when serving as Officers, Directors or members of committees are the property of the Chapter and shall be turned over to the Secretary, or a Board member authorized by the Board, upon completion of their tenure of office.   All official correspondence, papers, records or files in the possession of Members and Associates when serving as Officers, Directors, or members of Chapter committees are the property of the Chapter, and shall be turned over to the Chapter upon the incumbents’ completion of their tenure in office, as directed by the Board.

12.04 Chapter Funds: All funds of the Chapter shall be deposited to the credit of the Chapter in such banks as the Board selects.

12.05 Contributions’, Gifts Bequests: The Board may accept, on behalf of the Chapter, any contribution, gift, bequest, or devise for the general purpose of, or any special purpose of the Chapter, provided that the Chapter has met the requirements of Internal Revenue Code Section 501(a).

12.06 Corporate reports and Seal: The Board may provide for the preparation and submission to the Members and Associates, a written annual report, including a financial statement. Such report shall be made available for inspection by the Members and Associates at regular Chapter meetings, or upon written request from a Member or Associate, at such other times and places as may be considered reasonable and mutually convenient.

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