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PROCEDURES AND CONDITIONS FOR THE ADMISSION, WITHDRAWAL OR REMOVAL OF MEMBERS FROM THE ASSOCIATION
I. GENERAL PROVISIONS
1. The procedures and conditions for the admission, withdrawal or removal of members (hereinafter – Procedure) of the Vienaragiai LT association (hereinafter – Association) establish the procedures and conditions for the admission, withdrawal, suspension or removal of full and associate members from the Association, and other related matters.
2. This Procedure has been prepared in accordance with the Law on Associations of the Republic of Lithuania (hereinafter – the Law on Associations), the Civil Code of the Republic of Lithuania, other laws of the Republic of Lithuania, and the Articles of Association.
3. This Procedure must be followed by all members of the Association.
II. ADMISSION TO THE ASSOCIATION
4. Any natural or legal person with a high potential for innovation-based business development or engaged in activities related to the implementation of new technologies, and meeting the following criteria may become a member of the Association:
4.1. the candidate has developed an innovative technology product in Lithuania, and/or is carrying out testing, research and experimental development of an innovative technology product in Lithuania;
4.2. at least 70% of the total income earned by the candidate during the last financial year was received from the sale, testing and/or development of an innovative technology product;
4.3. at least 90%, if the candidate seeks to become a full member, or at least 50%, if the candidate seeks to become an associate member of the Association, of all income earned by the candidate during the last financial year was received from foreign entities;
4.4. The candidate's income has increased by at least 30% annually during the last three financial years;
4.5. the candidate submits tax returns to the State Tax Inspectorate of the Republic of Lithuania in a timely manner pursuant to the regulatory requirements, as well as pays taxes applied in Lithuania on time.
5. To become a full or associate member of the Association, a legal entity that meets the criteria specified in Clause 4 of the Procedure must submit the following to the Head of the Association:
5.1. a free-form application to become a full or associate member of the Association, by specifying the type of membership in the application;
5.2. a detailed description of its innovative technology product;
5.3. an extract of the main data of the Register of Legal Entities;
5.4. a copy of the resolution of the body competent to handle matters of admission to the Association according to the founding documents;
5.5. copies of financial statements for the last three financial years;
5.6. a free-form certificate on compliance of the candidate with the requirements specified in Clause 4.5 of the Procedure.
6. To become a full or associate member of the Association, a natural person who meets the criteria specified in Clause 4 of the Procedure must submit the following to the Head of the Association:
6.1. a free-form application to become a full or associate member of the Association, by specifying the type of membership in the application;
6.2. a detailed description of its innovative technology product;
6.3. a resume (CV);
6.4. a free-form certificate on compliance of the candidate with the requirements specified in clauses 4.2-4.5 of the Procedure.
7. The decision on admission of a full member to the Association shall be made by the General Meeting of Members by a simple majority of votes at the next General Meeting of Members of the Association upon receipt of the application. The decision on admission of an associate member to the Association shall be made by the Board of the Association by a simple majority of votes at the next meeting of the Board upon receipt of the application. The General Meeting of Members or the Board of the Association may accept or reject the application without stating the reasons thereof.
8. The applicant shall be notified of the decision to make the applicant a full or associate member of the Association or to reject the application no later than within 10 calendar days from the date of the decision.
9. A candidate shall become a full or associate member of the Association no later than within 30 calendar days from the date of receipt of the notice of the decision to make the applicant a full or associate member of the Association upon payment of the admission fee.
10. A candidate shall become a full or associate member of the Association on the date of paying the admission fee. If the candidate does not pay the admission fee within the specified deadline, the decision of the General Meeting of Members or the Board of the Association regarding making the applicant a full or associate member of the Association shall become invalid. This shall not mean that the candidate cannot re-apply to the Association to become a member thereof.
III. TERMINATION OF MEMBERSHIP IN THE ASSOCIATION
11. A member of the Association shall have the right to voluntarily withdraw from the Association by submitting a written application to the Head of the Association. A member of the Association shall lose the rights and obligations of a full or associate member of the Association provided by a relevant type of membership from the date of submission of a written application to the Head of the Association.
12. A full member of the Association may be removed on the recommendation of the Board and by decision of the General Meeting of Members of the Association, and an associate member of the Association may be removed on the recommendation of the Head and by decision of the Board of the Association if:
12.1. the member does not comply with the Articles of Association;
12.2. the member does not comply with the decisions of the bodies of the Association;
12.3. the Board of the Association decides that the activities of the member damage the reputation and interests of the Association;
12.4. the member does not pay the membership fee within the set deadlines;
12.5. the member's conduct violates the ethical requirements applied to members.
13. The General Meeting of Members or the Board of the Association shall have the right to decide to remove a full or associate member of the Association by informing the member of the possibility and reasons of such removal not later than 30 calendar days before making the decision to remove the member from the Association.
14. If upon receipt of the notice of removal from the Association specified in Clause 13 of the Procedure the full or associate member of the Association indicates to the Board of the Association significant circumstances which gave rise to the aforesaid grounds, the Board may suspend the membership of such an entity in the Association. Membership may be suspended by the decision of the Board for a maximum of one year. If a member of the Association eliminates the circumstances due to which its membership in the Association has been suspended, the membership of such entity shall be renewed in the Association by decision of the Board.
15. If a member of the Association does not eliminate the circumstances due to which its membership in the Association has been suspended one year after suspension thereof, a procedure for removing the member from the Association shall be initiated in accordance with this Procedure.
16. Upon suspension of the membership of a full and associate member of the Association, the member shall lose the right to exercise the rights of a member of the Association established in the Law on Associations, the Articles of Association and other legal acts, except for the right of a full and associate member of the Association to withdraw from the Association at any time, and the right of a full member of the Association to vote at the General Meeting of Members of the Association. Suspension of membership shall not release the full and associate member of the Association from fulfilling the obligations of a member of the Association.
17. Removed or suspended members of the Association, as well as those who have terminated their activities (representatives of members – legal entities) shall lose their positions in the management and/or other bodies of the Association.
18. Admission and membership fees, or other funds and part of the Association's assets that have been transferred to the Association shall not be refunded to persons who have withdrawn and/or have been removed from the Association.
APPROVED by Board of Unicorns Lithuania in 21 June 2021.
