Statutes

The statutes mentioned here are translated from swedish. Only the original statutes applies legally.

§ 1 Company

The association’s company is IKTUS – Sweden ek. for. (IKTUS – Sweden Economic Association)

§ 2 The nature and purpose of the business.

The purpose of the association is to promote members’ financial interests by working with investment / credit according to following strategy:

  1. Work in countries / regions with significant capital shortages and hence high interest rates.
  2. Select partners according to the following criteria:
    1. common Christian moral / ethical value basis
    2. willingness to develop close and trustworthy working relationships.
    3. competence to assess / evaluate business start-up / development projects.
  3. Financing of business establishment / development takes place in close integration with (a) Teaching (leadership, personal development, value creation processes) (b) Mentorship.
  4. The members of the association participate in the association’s own work by attending different ways of mentoring, teaching and networking towards the association’s partners. work on mentoring, teaching and networking towards association partners.
  5. The business shall be pursued with a long-term objective and with simple and cost effective routines.

§ 3 The seat of the Board

The Board is based in Finspång Municipality.

§ 4 Membership

A member may be deemed to be applicants who are expected to comply with the statutes and decisions of the association. The application for admission is examined by the board or by the board appoints. Voice distribution takes place according to separate appendix.

§ 5 Membership shares

Each member must participate in the association with at least one member fee of SEK 5000, corresponding to a Share, the bet is paid through the association’s bank or plus giro when membership has been granted.

§ 6 Withdrawal of capital employed

Withdrawal of capital employed takes place as follows: Termination of the number of shares referred to must be before the beginning of the fiscal year, after which an entire fiscal year and three months after the annual general meeting, where the profit for the year has been established, expires. Thereafter, payment of the capital will be made, corresponding to the number of canceled shares.

§ 7 Dividend / Profit

No profit distribution is made directly to members of the association. The gain / loss arising from the business is included in the joint venture’s capital, and affects the members’ interests by increasing or decreasing the number of shares according to § 9.

§ 8 Trading with participations

Trading in shares may be done freely between members of the association, with free pricing, throughout the fiscal year. Any such transaction and share change must, however, be communicated to the Board. External persons may purchase shares only after the membership has been granted.

§ 9 Changes in value of capital employed

The value of the association’s common equity is determined annually by the Board. This will take place on 04.01, after the end of fiscal year and fixed income, and balance sheet. The capital change in value affects each member according to the following: The number of shares of the member increases or decreases in number in relation to the size of each member’s capital.

§ 10 Exclusion

A member who violates the statutes or which obviously harms the association or opposes its interests or purposes may be excluded from the association by the Board. An excluded member may refer the question of exclusion to the General Assembly by notifying the Board within one month of the sending of the notice of termination to the member.

§ 11 Exit

Except in cases specifically determined in the Act on Economic Associations, a resignation of the Association at the end of the fiscal year which occurs next to one month after a member has resigned, is terminated, resigned for another reason, or there has been another circumstance that caused the exit.

§ 12 Board of Directors

The Board shall consist of at least three and not more than five members of the Board, with no more than five deputies. Board members and deputy members are elected by the AGM for the period until the end of the next Annual General Meeting.

§ 13 Membership

It is up to the board to establish a current membership list.

§ 14 Company Registration

The company’s association is signed by the board or by those appointed by the board.

§ 15 Reserve fund

In accordance with applicable legislation, at least 10% of the profits shall be allocated to the reserve fund.

§ 16 Auditors

At the Annual General Meeting, two auditors shall be elected each year with no more than two deputy auditors for the period until the end of the next Annual General Meeting.

§ 17 Financial year

The financial year of the association is 01-01 – 12-31.

§ 18 Annual report

The Board of Directors shall submit the annual accounts to the auditors no later than one month before the Annual General Meeting.

§ 19 Annual General Meeting

The Annual General Meeting is held before the end of June, the following matters will be dealt with:

  1. Election of Chairman of the Meeting.
  2. Election of minutes for the meeting.
  3. Election of two adjudicators.
  4. Approval of voting rights.
  5. Question if the meeting has been announced in the appropriate order.
  6. Determination of the agenda.
  7. Board of Directors’ Annual Accounts and Audit Report.
  8. Decision on the determination of the balance sheet and income statement and how The profit or loss according to the established balance sheet shall be available.
  9. Resolution on discharge to members of the Board.
  10. Question on fees to Board members and auditors.
  11. Election of Chairman and other Board members and alternates.
  12. Election of two auditors and one deputy auditor.
  13. Election of election committee, two ordinary of which one convening party and one alternate.
  14. Other matters to be recorded at the Annual General Meeting by law or association’s statutes.

§ 20 Notice and other communications

Notice of the Annual General Meeting is convened by e-mail. Notice shall be sent no earlier than four weeks before the Annual General Meeting and no later than two weeks before the Annual General Meeting and no later than one week before the Extraordinary General Meeting. Other messages to the members are also sent via email.

§ 21 Resolution

At the dissolution of the association, the association’s retained assets shall be distributed among the members in proportion to paid-up shares.

Voice distribution is as follows:

Votes Shares
1 1-3
2 4-8
3 9-14
4 15-24
5 25-34
6 35-49
7 50-64
8 65-79
9 80-99
10 100-