General Assembly and its Tasks:
ARTICLE 7 - The Association's General Assembly is made up of the representatives of Participation Banks.
General Assembly carries out the following tasks:
a) To examine and endorse the reports of Board of Directors and Auditors as to the Association's annual activities and accounts as well as the budget thereof;
b) To elect Board Members;
c) To elect Auditors;
d) To discuss proposals and wishes that have been conveyed by Board of Directors on issues concerning the tasks and objectives of the Association or that have been put forth to Board of Directors by Members by the end of March every year to be submitted to General Assembly, adopting decisions required thereon and adopting resolutions as to the new working calendar;
e) To submit proposals to the Board as to any amendments to be required in the Statute;
Manner of Meeting of General Assembly:
ARTICLE 8 - General Assembly holds its ordinary and extraordinary meetings at the head-office of the Association or elsewhere to be determined by Board of Directors. The ordinary meeting is held every year in May. Board of Directors fixes the place, date, hour, agenda and - if the majority is not ensured - the issues concerning the meeting to be held. Nevertheless, the period of time between the date of the former and latter meetings may not be shorter than a week. This resolution of the Board of Directors is conveyed by Secretary General to Members and the Board at least fifteen days earlier than the date of the first meeting by certified mail or through courier. At least fifteen days before those General Assembly Meetings where elections shall be held, the list wherein the Member Participation Banks that shall take place in elections as well as their representatives are mentioned, along with the letter that includes the issues mentioned in Board of Director's resolution concerning the meeting, shall have been submitted in three copies to the Judge that is the President of the Board of Elections, who shall be appointed by Higher Board of Elections. Having fulfilled due examination thereon, the Judge endorses the list and other issues, and appoints a Presiding Official for the Board of Election and two Members of Board of Election and Deputy Members for each thereof.
An Extraordinary Meeting is held upon the call of Board of Directors or upon the written application of one-fourth of its Members or as and when so deemed necessary by Auditors. This meeting shall also, in the same manner as has been mentioned in the above-said provision, have been conveyed first to the Agency, Members, and - if any election for organs shall be held - to the Judge who is the President of the Board of Elections at least fifteen days prior to the Meeting.
At those Extraordinary General Assembly Meetings where an election is held, Presiding Official of the Board of Election and two Members of Board of Election and Deputy Members for each thereof are appointed by the Judge who is the President of the Town's Board of Elections.
Quorum for Meetings and Resolutions:
ARTICLE 9 - The Quorum for a General Assembly Meeting is one plus half the number of Member Participation Banks. If the quorum cannot be reached at the first meeting, the General Assembly is authorized to hold its second meeting and adopt resolutions without requirement for any proportion.
Only the agenda items are discussed at a General Assembly Meeting. Nevertheless, it is compulsory that such issues as are proposed by any one of Members and are deemed appropriate to be discussed by the majority of Members that are present at the meeting be included in the Agenda. Resolutions are adopted by the majority of votes. In case of equal votes, the opinion of that party wherein President of Presiding Council is found is preferred.
The resolutions that are adopted by the General Assembly are also valid for those Members that are absent at the meeting thereof.
Presiding Council at General Assembly Meeting:
ARTICLE 10 - A General Assembly Meeting is presided by Chairman and in case of his absence Deputy Chairman. Besides, a Deputy President and two secretaries are elected from among the current Members. Minutes and resolutions of meetings are undersigned by President, Deputy President and Secretaries, and thus filed.
Right of Vote, Manner of Voting and Notification of Resolutions:
ARTICLE 11 - Each Member has the right for one vote at General Assembly Meeting.
Voting at elections is realized by secret voting and open classification. The results of voting that are recorded at the end of the period of an election with an official report are undersigned by the Head and Members of Board of Election. Any objections to the elections to be placed within two days after the preparation of Minutes are examined by Judge on the very same day and resolved upon definitively.
Voting is open at a General Assembly Meeting. However, at elections and in the discussion of such issues as resolution is adopted by General Assembly thereupon secret voting is resorted to. If it is so resolved by General Assembly, the election of Deputy Chairman and Secretaries is done by open voting.
A copy of resolutions is dispatched to Members and Agency by certified mail or through a courier.