IAAI Officers and Board of Directors position on Proposed Amendment # 2023-02
The IAAI Board of Directors “Support/endorse” Proposed Amendment # 2023-02 to the IAAI Constitution & Bylaws.
Substantiation: Proposed Amendment # 2023-02 to the IAAI Constitution & Bylaws is warranted to bring the IAAI into compliance with Maryland Law. The IAAI recently learned that it is not in compliance with Maryland Law governing corporations. The IAAI’s external CPA and the IAAI’s management company, SMG, have confirmed this fact to the IAAI. The IAAI was incorporated under Maryland law and the IAAI is headquartered in Maryland. Maryland law requires that one of the IAAI’s officers be a Secretary/Treasurer. These can be the same person. The proposed Amendment will bring the IAAI into compliance while not requiring another member elected position.