Revised after 2005 AMCHAM Elections

  
     
  ARTICLE III  
  Section 1. MEMBERSHIPS
There shall be eight classes of membership,
namely, COMPANY, INDIVIDUAL, SPECIAL COMPANY, COMPANY ASSOCIATE, SPECIAL. NON-RESIDENT, YOUNG PROFESSIONAL and HONORARY. All applications for membership shall be screened by the President in accordance with the By-Laws. Any questions shall be referred to the Executive Committee for resolution. 		 
     
  Section 2. COMPANY MEMBERSHIP
COMPANY membership shall be available to the following legal entities, partnerships, associates and sole proprietorships (hereinafter called "firms") who are established in or have a representative in Korea and who are either:

(a) American owned or controlled firms: those firms in which American firms organized and existing under the laws of the United States or its possessions have a capital investment or operating interest which, in the opinion of the Executive Committee, is sufficient to qualify the applicant for COMPANY membership: and

(b) Other Firms: those firms whose principal business activity is, in the opinion of the Executive Committee, representing American firms organized and existing under the laws of the United States or its possessions.

More than 65% of COMPANY memberships at all times must be American owned or controlled firms which will be monitored by the President.		  
     
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  Section 3. SPECIAL COMPANY MEMBERSHIP
Those firms or organizations which do not qualify for COMPANY membership under section 2 (a) or (b) above, but whose membership, in the opinion of the Executive Committee would be mutually beneficial can be SPECIAL COMPANY members. Such SPECIAL COMPANY members would enjoy all of the rights and privileges of COMPANY members except the right to hold office and to vote in Chamber elections. Annual dues under this category will be the same as for the COMPANY members, but initial fee shall be waived. 		 
     
  Section 4. INDIVIDUAL MEMBERSHIP
Any United States citizen resident in Korea who is or has been engaged as an individual in business or a profession shall be qualified to apply for an INDIVIDUAL membership. A U.S. citizen in a firm eligible for membership may not apply for INDIVIDUAL membership.		  
     
  Section 5. COMPANY ASSOCIATE MEMBERSHIP
Any individual whose company has a COMPANY or SPECIAL COMPANY or SPECIAL membership shall be qualified to apply for a COMPANY ASSOCIATE membership if membership is desired. 		 
     
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  Section 6. SPECIAL MEMBERSHIP
Any organization engaged in charitable, educational, governmental, cultural, fraternal, or religious activities that are non-profit and are related to the objectives of the Chamber, shall be qualified to apply for SPECIAL membership.		  
     
  Section 7. NON-RESIDENT MEMBERSHIP
Legal entities, associates, sole proprietorships, or individuals who would otherwise be qualified for COMPANY memberships or INDIVIDUAL memberships but are not resident in Korea or do not maintain a representative in the greater Seoul area of Korea may be qualified as determined by the Executive Committee to apply for a NON-RESIDENT membership		  
     
  Section 8. YOUNG PROFESSIONAL MEMBERSHIP
YOUNG PROFESSIONAL members shall be business people whose companies elect not to join but are interested in participating in Chamber activities. This category of membership is not eligible for voting rights, holding office or using the AMCHAM Visa Referral Program.		  
     
  Section 9. HONORARY MEMBERSHIP
HONORARY members shall be individuals elected by the Board of Governors. They shall be entitled to all of the privileges of membership, except the right to hold office and to vote and shall be exempt from payment of entrance fees and membership dues. HONORARY memberships shall cease on departure of the member from Korea unless continued on the membership list by resolution of the Executive Committee. 		 
     
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  Section 10. VOTING RIGHTS
(a) Each COMPANY membership shall designate on its membership application one person of good standing, residing in Korea to be its representative in the Chamber who is designated by the COMPANY membership as its voting representative, as hereinafter defined.

(b) Only a COMPANY membership voting representative and INDIVIDUAL members in good standing pursuant to Article III, Section II shall have voting rights and each such shall have one vote.

(c) In the event that the voting representative of a COMPANY membership or an INDIVIDUAL member is unable to exercise the voting privilege, and provided in the opinion of the Board of Governors sufficient reason exists, he may execute a written proxy in a form acceptable to the Board of Governors designating any member in good standing pursuant to Article III, Section II, to act on his behalf.

(d) SPECIAL, SPECIAL COMPANY, COMPANY ASSOCIATE, NON-RESIDENT, YOUNG PROFESSIONAL and HONORARY membership shall have no voting privileges.

 
     
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  Section 11. PRIVILEGE TO HOLD OFFICE
Only qualified COMPANY membership voting representatives and INDIVIDUAL members in good standing may hold elective office in the Chamber. 		 
     
  Section 12. EXPULSION
(a) The Chamber may expel any member whose continued membership is considered detrimental to the Chamber, but only after a hearing at a special meeting and by a two-thirds vote of the voting members present; provided the Executive Committee shall have recommended such expulsion, and that 30 days notice shall have been given by the President to both the member or member representative concerned. If the member concerned does not appear for such hearing in person, or by a representative, a vote may be taken on the expulsion as though an appearance had been made.

(b) If the dues of any member or membership remain unpaid for a period of longer than one month, due notice shall be given by the President and if such dues remain unpaid for a term of six months the member or membership shall be deemed to be not in good standing and if membership dues remain unpaid for a term of one year said membership may be stricken from the roll of the Chamber by vote of the Executive Committee.		  
     
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  Section 13. RESIGNATION
(a) A membership may be resigned by giving written notice to the President at least one calendar month before the dues for the following year are payable; otherwise, the membership will be liable for the dues of the succeeding year, not withstanding the notice of resignation.

(b) The Executive Committee may accept the resignation of any membership.		  
     
  Section 14. CHANGE OF MEMBERSHIP CLASSIFICATION
In the event a NON-RESIDENT member shall become a resident in or shall maintain a representative in the greater Seoul area of Korea, said member must notify the President of the change and, upon written application to and approval by the Executive Committee, and upon meeting all other membership requirements, will be changed to the appropriate resident membership classification. Notwithstanding the foregoing, the off-shore entity may also retain a NON-RESIDENT membership.

In the event any COMPANY or INDIVIDUAL member shall become a resident outside of Korea, said membership may, upon written application and approval by the Executive Committee, and upon meeting all other requirements, be changed to NON-RESIDENT classification. 		 
     
  Section 15. TRANSFER OF MEMBERSHIP
No memberships are transferable without approval of the Executive Committee who will determine eligibility of the transferee to hold said membership. 		 
     
 
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