THE CONSTITUTION OF DAAMS DEVELOPMENT GROUP

1 NAME
The name of the Group shall be “DAAMS DEVELOPMENT GROUP” hereinafter referred to
as
“The Group”

2 OBJECTS
The objects of the Group shall be:
2.0 To create an enabling platform through which members can make savings.
2.1 To enable members acquire credit facilities.
2.2 To establish a forum that will create a network and effective communication among
members.
2.3 To remain non-political.

3 MEMBERSHIP
3.0 Any person over the age of eighteen (18) years who shares the above interests with
reliable source of income and shows commitment shall be eligible for membership of
the Group and shall, subject to approval of the management committee, become a
member on payment of the prescribed membership fee.
3.1 Every applicant is required to fill in Membership application form on joining the Group.
3.2 The Group attracts a minimum of Five (5) and a maximum of Sixty (60) members.
3.3 Every member is shall make a minimum monthly contribution.
3.4 Every member is shall pay monthly administrative fee.
3.5 Management committee may refuse admission to a person after assigning reasons for
their decision.
3.6 Membership of the group shall cease with effect from the date of a member’s: a)
Death
b) Withdrawal
c) Expulsion from Group
d) Becoming certifiably insane
e) Transfer of shares
f) Being declared bankrupt in a Court of Law

3.7 Any member can be expelled from membership if the committee so recommends and if
a General meeting of the Group shall resolve by two thirds majority that such a

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 member should be expelled on the grounds that his/her conduct has adversely
affected the reputation and dignity of the Group
4 Nominees
4.0 Every member shall nominate a nominee in writing as his/ her nominee to whom, on his/
her death, deposits shall be vested and such appointments shall be attested by two
witnesses who are members of the group.

4.1 In the event of death of a member, the group after satisfying itself and after obtaining
such documentary proof of the death of a member as it may consider necessary, shall
pay to the nominee the value the value of the deceased member’s deposits, after
ducting such sums as may be due by the member to the group, as soon as possible.

5 OFFICE BEARERS
5.0 The office bearers of the Group shall be
a) The chairman
b) The secretary
c) The treasurer

5.1 All office bearers shall be fully paid up members of the Group but who shall be entitled
to such allowances as provided by this constitution an approved by the management
committee.
5.2 All office bearers shall be elected at Annual General Meeting (AGM) to be held each year
and shall hold the office till the succeeding AGM subject to the conditions contained
in sub-paragraphs (b) and (d) of this rule but shall be eligible for reelection.
5.3 Any office bearer who ceases to be a member of the Group shall automatically cease to
be an office bearer thereof.
5.4 Office bearers may be removed from office as is laid down for expulsion of members in
rule 3(k) and 6(d) and vacancies created filled by persons elected in General meeting
resolving the expulsion. The management committee may co-opt on temporary basis
any member to fill such vacancy in event of such occurrence.

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5.5 DUTIES OF OFFICE BEARERS
5.5.1 Chairman
I) The Chairman shall unless prevented by illness or other sufficient cause,
preside over all meetings of the committee and at all General meetings
II) The Chairman, or in his absence, the Vice-Chairman shall preside at every
General Meeting. In their absence, any member elected by majority of those
present shall preside.
5.5.2 Secretary
I) The Secretary shall deal with all the correspondence of the Group under the
general supervision of the committee. In case of urgent matters where the
committee cannot be consulted, he shall consult the chairman or if he is not
available the vice-chairman. The decision reached shall be subject to
ratification or otherwise at the next committee meeting.
II) He/she shall issue notices convening all meetings of the committee and all
General meetings of the Group and shall be responsible for keeping minutes of
all such meetings and for the preservations of all records of proceedings of the
Group and the Committee.

5.5.3 Treasurer
I) The Treasurer shall receive and disburse, under the direction of the committee,
all monies belonging to the Group and shall issue receipt for all moneys
received by him or her and preserve vouchers for all moneys paid out.
II) The Treasurer is responsible to the committee and the members that proper
books of account of all moneys received and paid by the Group are written up,
preserved and available for inspection.
III) The treasure shall ensure that all payment and expenditures are duly
authorized.
IV) The treasurer shall ensure compliance with all directives of the management
committee.

6 THE MANAGEMENT COMMITTEE

6.0 The Management Committee shall comprise of all the office bearers of the Group and
three other members of who shall be elected at the Annual General Meeting each
year. The Committee shall hold office until the following AGM. The Committee shall

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 meet at such times and places as it shall resolve but shall meet not less than twice in
a year.
6.1 Any vacancies for members of the Committee, caused by death or resignation, shall be
filled by a member appointed by the remaining Committee members, and shall hold
office until the next AGM of the Group.

7 DUTIES OF THE COMMITTEE

7.0 The Committee shall be responsible for the Management of the Group. The Committee
shall have power to appoint such sub-committees, as it shall deem desirable to make
reports to the Committee upon which such action shall be taken as seems to the
committee desirable.
7.1 All moneys disbursed on behalf of the Group shall be authorized by the committee except
as specified in rule thirteen (13) subsections (g).
7.2 The quorum for meetings of the management committee shall not be less than two thirds
(2/3) of its members.

8 GENERAL MEETING
8.0 There shall be two classes of General Meetings; Annual General Meetings and Special
General Meetings.
8.1 The Annual general meetings shall be held not later than 30 th April every year. Notice in
writing of such Annual general meetings, accompanied by the annual statement of
account and the agenda for the meeting shall be sent to all members not less than 21
days before the date of the meeting.
8.2 The agenda for any annual general meeting shall consist of the following:
I) Confirmations of the minutes of the previous meetings II)
Consideration of accounts.
III) Election of the office bearers and committee members.
IV) Appointment of auditors
V) Such other matters as the committee may decide or as to which a member or
members shall have given notice in writing to the secretary at least four (4)
weeks before the date of the meeting.
VI) Any other business with the approval of the chairman

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 8.3 The committee may call for Special general meeting for any specific purpose.
Notice in writing of such meetings shall be sent to members 7 days before the
date thereof.
8.4 Special general meetings may also be requisitioned for a specific purpose by
order in writing to the secretary of not less than half of the members and such
meetings shall be held within 21 days of the date of the requisition. No matters
shall be discussed other than that stated in the requisition.
8.5 Quorum for general meetings shall be not less than two-thirds (2/3) of the
registered members of the Group.

9 PROCEDURE AT MEETINGS

9.0 At all meetings of the Group the chairman or in his absence the vice chairman or in the
absence of both these officers, a member selected by the meeting shall take the chair.
9.1 The chairman may at his discretion limit the number of persons permitted to speak in
favour of or against any motion or agenda.
9.2 Resolution shall be decided by simple voting. In the case of equality of votes, the
chairman shall have a second or casting vote.
10 TRUSTEES
10.0 All land buildings and other immovable properties and all investments and securities,
which shall be acquired by the Group, shall be vested in the names of not less than
three (3) trustees who shall be members of the Group and shall be appointed at an
AGM for a period of 2 years.
10.1 On retirement such trustees shall be eligible for re-election. A general meeting shall
have the power to remove any of the trustee and all vacancies occurring by removal,
resignation or death, shall be filled at the time or next General meeting.

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10.2 The trustees shall pay all income received from properties vested in the trustees to the
treasurer. Any expenditure in respect of such property, which in the opinion of the
trustees is necessary or desirable, shall be reported by the trustee to the committee,
which shall authorize expenditure of such monies as it thinks fit.

11 AUDITOR
11.0 An Auditor/s shall be appointed for the following year at the Annual General
Meeting. The entire Groups’ accounts, records and documents shall be open to the
inspection of the Auditor at any time. The treasurer shall produce an account of
receipts and payment and a statement of assets and liabilities made up to date, which
shall not be less than three weeks and not more than three months before the date
of the Annual General Meeting. The Auditor shall examine such annual account and
statements and either clarify that they are correct, duly vouched and in accordance
with the law or report to the Group in what respect they are found to be incorrect, and
vouched or not in accordance with the law.

11.1 A copy of Auditors report on the account and statements together with such accounts
and statements shall be furnished to all members at the same time as the notice
convening the Annual general Meeting is sent out. An Auditor may be paid
such honorarium for his duties as may be resolved by the Annual General Meeting
appointing him or her.
11.2 No Auditor shall be an office bearer or member of the Committee of the Group.

12 FUNDS
12.0 The funds of the Group shall be derived from the following sources:
I) Membership fee paid upon entrance into the Group
II) Monthly contributions by members
III) All monies accrued by virtue of any business of the group

12.1 The funds of the Group may only be used for the following purposes:
I) Assist any member of the Group in financial need
II) For such investments as approved by the Management committee.
III) For any other purpose deemed beneficial to the members of the Group.

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 12.2 All monies shall be received by and paid to the treasurer and shall be
deposited by him/ her in any bank/banks approved by the committee.
12.3 No payment shall be made out of the bank accounts without a resolution of the
committee authorizing such payments and the treasurer shall sign all cheques
on such bank account and one other approved signatory who shall be the
Secretary or the Chairman of the Group.
12.4 The financial year of the Group shall be 1st January to 31st December every
year.

13 AMENDMENTS TO THE CONSTITUTION

Amendments to the constitution of the Group must approved by two-thirds 2/3 of majority of
members at a general meeting of the Group. They cannot, however be implemented without
the prior consent in writing of the registrar, obtained upon application to him in writing and
signed by three of the office bearers.

14 DISSOLUTION
14.0 The Group shall not be dissolved except by a resolution passed at a general meeting
of the members by a vote of two-thirds 2/3 of the members present. The quorum of
the meeting shall be as shown in rule 9(f). If no quorum is obtained, the proposal to
dissolve the Group shall be submitted to a further General meeting, which shall be
held one month later. Notice of this meeting shall be given to all members of the
Group at least 14 days before the date of the meeting. The quorum of this meeting
shall be the number of members present.
14.1 Provided, however, that no resolution shall be effected without prior permission in
writing to the registrar, obtained upon application to him made in writing and signed
by the three office bearers.
14.2 When the registrar has approved the dissolution of the Group, no further action shall
be taken by the committee or office bearers of the Group in connection with the aims
of the Group other than to get in and liquidate for cash all the assets of the Group.
Subject to the payment of the debts of the Group, the balance shall therefore be
distributed in such other manner as may be resolved by the meeting at which the
resolution for the dissolution is passed.

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15 INSPECTION OF ACCOUNTS AND LIST OF MEMBERS
The books of accounts, all other documents relating thereto, and a list of members of the
Group shall be availed for inspection at the registered office of the Group by any officer or
member of the Group on giving not less than 7 days notice in writing to the Group.

CHAIRMAN SECRETARY
NAME: NAME:
SIGN: SIGN: