STATUTES
GREENLANDIC-ICELANDIC CHAMBER OF COMMERCE

1. article
Name and location

The name of the association is Greenlandic-Icelandic Chamber of Commerce and it is located in Reykjavík, Iceland.

2. article
Purpose and mission

The main aim is to strengthen trade and economic cooperation between the two countries.

The association seeks to work together with unions in Iceland and Greenland, which have similar tasks. To promote this goal, the association is holding informational meetings, conferences, and disseminate information on business, investment and trade opportunities in Greenland and Iceland. Newsletter activities are published at least twice a year.

 The association will also seek to protect members’ interests.

3. article
Members

Members can be individuals, companies and institutions in Iceland or Greenland. Each member has one vote at the association’s meetings. Voting rights shall lapse if the quota has not been paid. Resignation of membership shall be in writing and should be calculated from the beginning of next year. The board may expel members if they oppose the association’s purpose.

General meetings may appoint honorary members on the recommendation of the Association’s Board of Directors. Honorary members have access to the association’s meetings but no right to vote.

4. article
Business

The association’s activities are financed by membership fees, set by the General Assembly upon the recommendation of the Board. The General Assembly elects from two auditors among its members, they have the task to review and certify their accounts. The financial year is from 1st of January to 31st of December.

5. article
Board of Directors

The association’s board consists of nine members elected at the AGM. The chairman is also elected by the AGM. The board has to choose a manager who is responsible for the association’s daily work.

The Chairman of GLIS – Greenlandic Icelandic Chamber of Commerce – in person – with the consent of the Vice Chairman has the authority to take decisions regarding matters of common interest to the bi-lateral chambers, without the prior consent of the Board.

6. article
Board meetings

The Chairman and in his absence, the Vice President, convene the board meetings.

The Board meeting is relevant if it is duly convened and if at least four members participate. Equality of votes; the Chairperson or, in his absence, the deputy chairman has to make final vote.

7. article
Drawing

The president of the chamber and managing director represent the association.

„The Chairman of GLIS – Greenlandic Icelandic Chamber of Commerce – in person – with the consent of the Vice Chairman has the authority to take decisions regarding matters of common interest to the bi-lateral chambers, without the prior consent of the Board.

8. article
General Assembly

The general assembly will be held each year before the end of June. Notice of the Meeting and the agenda have to be sent at least two weeks in advance.

 The following points must be on the agenda:

1. Election of Chairman and Rapporteur

2. Directors’ report

3. The financial statements

4. Legislative changes

5. Selection of

   a. chairman and

   b. other board members

6. Election of two auditors

7. Establishment of quotas

8. Any other business

9. article
Meetings

The association’s general meetings must be written down in a adequate form.

10. article
Changes of the Association’s Articles

The association’s laws can be changed only at a general meeting. Draft legislative amendments must be submitted to the Board at least three weeks before the meeting. All proposals for a change within the Association should be sent together with the notice of meeting and signed by the author.

The same goes for the dismantling of the association.

Resolution on legislative changes or abandonment of the Association have to be adopted by 2/3 majority of the votes cast at the meeting. If the union disbanded, any assets accrue to organizations or institutions that are designed to promote business relations between Iceland and Greenland.