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ARTICLES OF ASSOCIATION-SECTION IX - PROPERTY

S E C T I O N   IX
PROPERTY

Art. 32. The property of the Chamber shall consist of: property right and other real rights on immovables and movables; intellectual property rights, rights on securities; participation in companies; other rights and obligations.
Art. 33. (1) The Chamber shall provide for its means of support from:
  • single and annual property contributions (membership fee);
  • service fees;
  • deductions from the profit of the Chamber's companies, as well as from other profitable activities of the Chamber;
  • donations, etc.

 
  (2) The Chamber’s income from any additional economic activities related to its major business line of activities shall be used for the achievement of the objectives set in these Articles of Association.
  (3)
Foreign and local persons can make donations and wills in favour of the Chamber which shall be approved by the Executive Council. When a prize or a specialized fund has been established with the donation or the will, or an allocation program has been financed with it, the donor or the legator shall be entitled to their naming.
Art. 34. The financial activities of the Chamber shall be carried out in compliance with the annual budget.
Art. 35. (1) Allocation funds in BGN and in currency for financing various projects and programs shall be established with the Chamber. The funds shall be collected from all members concerned.
  (2) Financial sources for events and activities assigned to the Chamber by any state authorities shall be defined by the latter.
Art. 36. The Chamber shall pledge its property for any of its liabilities. It shall not be held responsible, however, for any of the liabilities of its members and of the companies in which it participates. As per the Chamber’s liabilities, the members shall be responsible up to the amount of their property contributions. The members shall not be held personally responsible for any of the Chamber’s liabilities.