Charter-Statuto
Article 1 – Name
The association is established in accordance with the Italian Civil Code and the Constitution under the name “Siena Quant & Investment Banking Society”.
Article 2 – Headquarters
The legal headquarters of the Association is located at San Francesco at SEM (School of Economics and Management), Siena. Its duration is unlimited.
All communications shall be made using the verified email (of the association or the president and vice-president) addresses and web pages published online.
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Article 3 – Purpose
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The Association is non-partisan and non-profit.
Its purpose is to promote the cultural and professional growth of its members and the university community, creating a network of students, alumni, and professionals in the financial fields, through initiatives that foster the sharing of ideas, knowledge, and experience.
To achieve its goals, the Association may, by way of example and not limitation:
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Organize meetings to discuss current topics, with a particular focus on finance, and investment banking;
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Organize meetings with students, alumni, and professionals from the economic and financial sectors;
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Promote and organize cultural and promotional events, including collaborations with other associations.
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All activities not aligned with the Association’s purpose are strictly prohibited.
All activities respect principles of gender equality and the inviolable rights of individuals (refer to Article 3, Italian Constitution).
Article 4 – Members
Membership is open to anyone who:
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Accepts this Statute and the internal regulations;
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Shares the Association’s goals;
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Is willing to dedicate part of their time to achieving those goals.
The Order of Directors, in conjunction with the President, decides on all membership admissions. Graduates and professional who still want to be part of the association can be part of it as Honorary Members without voting rights.
Categories of Members:
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Founding Members: Individuals present at the Association’s establishment. They have voting rights, are eligible for offices, and their status is perpetual.
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Active Members: Students from any faculty, including those not enrolled at the University of Siena, admitted by the Order of Directors in conjunction with the President. They have voting rights and are eligible for offices.
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Honorary Members: Individuals who actively contribute to the Association’s activities and are recognized by the Order of Directors and the President.
The number of active members is unlimited.
All members provide their contributions voluntarily and without financial compensation.
Article 5 – Rights of Members
Members have the right to:
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Vote in and be elected to Association offices;
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Access information, documents, resolutions, budgets, and records;
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Participate in all Assembly meetings.
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No member may receive compensation for voluntary activities performed on behalf of the Association.
Article 6 – Duties of Members
Members must act personally, voluntarily, and without profit, according to their availability and the needs of the Association.
Members must act with solidarity, honesty, good faith, and moral integrity, respecting this Statute and the Association’s guidelines.
Article 7 – Withdrawal and Expulsion
Members may withdraw by submitting written notice to a member of the Order of Directors or the President. Withdrawal is effective once the Order of Directors acknowledge the associate decision.
The Order of Directors, in conjunction with the President, may expel members for misconduct or insufficient contribution. Expulsion decisions must be communicated in writing, including reasons for the action.
Article 8 – Association Bodies
The governing bodies of the Association are:
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Assembly of Members
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Order of Directors
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President
All offices are voluntary and unpaid.
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Article 9 – Assembly of Members
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The Assembly is the sovereign body of the Association. It is composed of all Founding and Active Members and is convened when necessary.
Additional convocations must occur:
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When the Order of Directors deems it necessary;
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Upon request of at least half of the members.
Assembly meetings may be ordinary or extraordinary:
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Ordinary Assembly: elects the President, approves annual reports, proposes initiatives, and ratifies expulsions;
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Extraordinary Assembly: approves amendments to the Statute and decides on the dissolution of the Association.
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Decisions are made by majority vote of members present or represented by proxy. Each member may hold only one vote and one proxy.
Article 10 – Order of Directors
The Association is managed by the Order of Directors, composed of 3 to 5 members, nominated by the President. President, Vice President and Treasurer must always be part of the Order of Directors.
The Order of Directors, in conjunction with the President:
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Admits and expels members;
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Performs ordinary and extraordinary administrative acts;
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Prepares annual reports and budgets for the Assembly;
Decisions are taken by absolute majority of members present. In case of a tie, the President has the deciding vote.
The Order of Directors must include at least:
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President
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Vice President
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Head of Content
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Treasurer
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Article 11 – President
The President represents the Association legally and presides over the Order of Directors and the Assembly.
The President’s term corresponds to the duration of a Bachelor’s degree in Economics or related fields. At the end of the mandate, the President passes the office to a successor. The successor may be elected during extraordinary assembly.
The President, together with the Vice President and the Treasurer manages the Association’s funds.
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Article 12 – Financial Resources
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Funds come from:
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Contributions, donations, or bequests compatible with the Association’s goals;
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Promotional initiatives;
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Voluntary self-financing.
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All funds must support the Association’s activities and purposes.
Article 13 – Financial Reporting
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The Order of Directors prepares the financial reports, which are approved by the Assembly.
The Assembly must approve the annual financial report compliant with the University deadline of the following academic year.
Members must have access to reports at least 14 days before the Assembly, still according to the University deadline which has the priority.
Article 14 – Statute Amendments
Proposals to amend the Statute may be submitted by the Order of Directors or upon request by at least three-quarters of the associates.
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Any amendment must be reviewed and approved by the Assembly and shall not conflict with the Association’s objectives or applicable law.
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Article 15 – Dissolution
The Association may be dissolved by a three-quarters majority of members. The Assembly decides the destination of residual assets, which must serve the University utility purposes.
Article 16 – Final Provisions
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For matters not expressly provided for in this Charter, the Italian Civil Code and applicable laws apply.