Chapter Ⅰ General Principles
Article 1 The name of the foundation shall be the Hunan University Business School Education Foundation, the HNU-BS Foundation for short (hereinafter referred to as the Foundation).
Article 2 The mission of the Foundation is:
Raising funds from broad channels, and raising the profile of Centennial Business School, to comprehensively support and expedite school development.
Article 3 The administrative office of the Foundation is located in Business School, Hunan University.
Chapter Ⅱ Fund Resources
Article 4 The initial funds of the Foundation was *** yuan from the donation of Mr. Hu Kang and part of EMBA student subsidies.
Article 5 The Business School management, the EMBA and MBA associations jointly made the decision that, students of EMBA and MBA programs shall subscribe for corresponding shares of funds during the period from their entrance to * years after graduation, considering students’ individual condition. EMBA students shall subscribe for at least ** yuan, and MBA students at least ** yuan.
Article 6 Alumni donations and donations by social organizations and individuals to Business School shall be under the management of the Foundation.
Chapter Ⅲ Objectives
Article 7 The objectives of the Foundation are:
1. To establishing and implementing funding programs for:
(a) Supporting teaching activities, and improving research facilities, including buildings, instrument and equipment, and literatures;
(b) Subsidizing teaching and scientific research projects and related publications;
(c) Supporting talent introduction, and academic lectures of invited international expert in the school;
(d) Establishing scholarships, subsidies, and awards;
(e) Supporting and subsidizing other projects of the school on education development;
(f) Setting funding programs as the donators’ demands.
2. To accept social donations for the Foundation;
3. To organize expert research, surveys, and training on designated topics, under the trust of domestic and foreign organizations.
4. To carry out trainings, consultation service, and donators and beneficiaries liaison.
Chapter Ⅳ The Board
Article 8 The Board of the Foundation shall normally comprise ** members. The Board member is elected for a term of five years, and may serve consecutive terms upon re-election result.
Article 9 The Board management is elected from the Board members. The Board management shall normally comprise:
Chairman of the Board (* person):
Vice Chairman of the Board (* persons):
General Secretary (* person):
Supervisors (* persons):
Members (* persons):
Article 10 The main qualifications for membership of the Board shall be:
1. Upholding the constitution of the Foundation, and making earnest efforts for public good;
2. Making remarkable contributions to Business School development;
3. Having substantive contribution to the Foundation, or being prestigious in education or scientific and technological circles.
Article 11 The Election and Recall of Board Members
1. The first session of the Board shall be respectively nominated by Hunan University, EMBA Alumni Association, MBA Alumni Association, main donators, and Business School, and determined based on a consensus;
2. Re-election shall be subject to a consentaneous nomination by Hunan University, EMBA Alumni Association, MBA Alumni Association, main donators, and Business School, and organized by the re-election leadership group designated by the above parties. All candidates shall attend the re-election to confirm the new membership of the Board;
3. The recall and augment of the membership of the Board shall be subject to the vote by the Board members.
Article 12 The rights and obligations of the Board members:
1. Right to elect, be elected, and vote;
2. Right to supervise and suggest;
3. Right to enjoy prior service of the Foundation;
4. Obligation to implement decisions of the Board;
5. Obligation to fulfill duties, to safeguard lawful interests of the Foundation;
6. Obligation to raise funds for the Foundation.
Article 13 The Board is the decision-making body of the Foundation. The Board shall exercise the following functions and powers:
1. To formulate and amend the articles of the constitution;
2. To elect, recall the chairman, vice chairman, and general secretary of the Board;
3. To decide on important business plans, including fund collection, management and use;
4. To consider and approve the Foundation’s proposed annual financial budget and final accounts;
5. To formulate internal management system;
6. To decide on setting offices, branches, and representative organizations;
7. To approve and appoint vice general secretary and other persons in charge based on nomination by the general secretary;
8. To deliberate working report of the general secretary, and supervise his work;
9. To pass resolutions on matters such as the dissolution, merge, or termination of the Board;
10. To pass resolutions on other important matters.
Article 14 Two general meetings shall be convened every year. The Board meetings shall be convened and presided over by the chairman of the Board. An extraordinary meeting shall be convened if it is proposed by one third or more of the Board members. If the chairman is unable to convene the meeting, the proposing Board members could recommend a substituted convener. The chairman, or the convener, shall inform all the Board members and supervisors about the meeting schedule at least five days in advance.
Article 15 The meeting of the Board shall be held only if attended by more than two third of the Board members. Resolutions of the Board shall be adopted by more than half of attending members.
The following resolutions shall be decided through voting of attendees, and be adopted by more than two third of voting rights:
1. Amendment of the Foundation Constitution;
2. Selection or removal of Chairman of the Board, Vice Chairman of the Board, and General Secretary;
3. Important investment activity conforming with the Foundation Constitution;
4. Dissolution or merge of the Foundation.
Article 16 The meeting shall be recorded into minutes. The resolutions shall be minuted and signed by the attending Board members. Where a resolution is in violation of any law, administrative regulation, or article of the Board Constitution, or causes any loss to the Foundation, the Board members who vote for adopting the resolution shall bear the liability. Those who are proven to have expressed objection to the vote on such resolution and their objection were recorded in the minutes may be exempted from liability.
Article 17 The Foundation has one supervisor. The term of office of the supervisor shall be the same as that of the Board member. The supervisor may, after the expiry of the term of office, hold a consecutive term upon re-election.
Article 18 Election and Recall of the Supervisor
1. The supervisor could be respectively selected by the main donator, and higher administrative department;
2. The supervisor could be selected by the registration administration;
3. Changes of the supervisor shall be comply with the selection process.
Article 19 The rights and obligations of the Supervisor
1. To inspect financial and accounting files of the Foundation according to regulated process of the Board Constitution;
2. To supervise law and Constitution-based acts of the Board;
3. To attend the Board meetings, and raise inquiry and suggestions to the Board;
4. To abide by laws and administrative regulations and the Foundation Constitution, and fulfill his duties.
Chapter Ⅴ Termination and Disposing of Residual Properties
Article 20 The Foundation shall be put in termination in case of the following conditions:
1. The missions prescribed by the Constitution has been completed;
2. The objects of the Foundation prescribed by the Constitution cannot be pursued;
3. The Foundation is dissolved or merged.
Article 21 Liquidation and handover of residual properties shall be completed within 15 days after the Board votes to decide the termination of the Foundation.
Chapter Ⅵ Modification of Articles of the Constitution
Article 22 The modification of articles of the Constitution shall be voted on by the Board.
Chapter Ⅶ Supplementary Provisions
Article 23 This Constitution shall become effective on ***. Business School of Hunan University shall be responsible for the interpretation of the articles.