Statutes

6. Finance

  1. The ISI Permanent Office shall administer the funds, maintain the accounts and provide the financial records of the Society in collaboration with the President-elect of the Society.
    1. To pay for direct non-trivial Section costs, at the discretion of the President of the Society, as well as indirect Section costs (in alignment with the 'overhead cost agreement' between the ISI Permanent Office and ISI Sections) as specified by the ISI Permanent Office, at the discretion of the President of the Society.
  2. The Society shall indemnify and hold harmless the Council Members and Officers of the Society, their heirs, executors and administrators, and estates and effects, respectively from time to time and at all times from and against
    1. All costs, charges and expenses which the Council Member or Officer sustains or incurs in or about any action, suit or proceeding brought, commenced or prosecuted against him or her or in respect of any act, deed, matter of thing whatsoever, made, done or permitted by him or her, in or about the execution of the duties of his or her offices or in respect of such liability; and
    2. All other costs, charges and expenses that he or she sustains, or incurs in or about or in relation to the affairs thereof, except if such costs, charges or expenses as are occasioned by his or her own willful neglect or default.

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