CFL Annual 2020
ARTICLES AND BYLAWS Updates The Catholic Financial Life Articles of Incorporation and Bylaws are the governing documents that guide our Society.
Earlier this year, delegates were asked to approve two amendments to the Articles of Incorporation. 1. Article V Amendment: The Supreme Governing Body of this Society shall be the Board of Directors. The Board of Directors shall have the power to make and adopt Bylaws and policies for the governance and management of the Society. The number of directors and the method of election or appointment shall be as set forth in the Bylaws.
2. Article VII: Any amendments to these Articles of Incorporation shall require approval from not less than two-thirds of the votes cast by the Board of Directors at a regular or special meeting of the Board of Directors at which a quorum is present. Proposed amendments to these Articles of Incorporation shall be submitted to and require approval by not less than two-thirds of the votes cast by the Judiciary Committee prior to approval by the Board.
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