Union of Taxation Employees
REGULATION NO. 17
17.1 COMPUTER LOAN POLICY
17.1.1 Policy
(1) UTE shall loan to any local
part or all of the funds required purchasing a computer and printer subject
to the procedures outlined in this Regulation.
17.1.2 Procedure
(1) All requests for a loan shall
be subject to the approval of the UTE National Finance Committee who
shall take into consideration the local’s ability to repay.
(2) The Local shall submit to the
UTE National Finance Committee a copy of the minutes authorizing the
loan as discussed and passed by the membership at the Annual General
Meeting or Special Meeting.
(3) The local shall submit to UTE
National Finance Committee a current set of Financial Statement.
(4) The local shall submit the amount
of the loan and their proposed repayment schedule.
(5) The UTE National Finance Committee
shall state the reasons for the denial, in writing, to the requesting
local.
17.1.3 Terms and Conditions
(1) UTE shall prescribe the terms
and conditions of the loan in a written contract.
(2) The minimum monthly repayment
of one hundred dollars ($100.00) shall be deducted by UTE from the
local’s
monthly dues cheque.
(3) The maximum length of the loan
shall not exceed thirty-six (36) months.
(4) Any loans under twelve (12)
months shall be interest free.
(5) All loans over twelve (12) months
shall carry the interest calculated at the current rate of a Guaranty
Investment Certificate (GIC) for the entire period of the loan.
(6) The President and the 1st Vice-President
and two (2) persons authorized by the local shall sign the contract.
| Adopted December 1997 |
Amended March 2002 |
| Amended March 2000 |
Amended December 2002 |
|
