THE STATUTE OF THE BRAIN RESEARCH SOCIETY  (TURKEY)

Article 1- The Name and Seat of the Society:

The name of the Society is the “BRAIN RESEARCH SOCIETY . The Seat of the Society is in Istanbul.

Article 2- The Purpose of the Society and Activities to be carried out and the Manners to be followed by the Society to Attain This Object and Its Scope:

    a-The primary objective of the Society is to be involved in the development of scientific research carried out in Turkey in basic and clinical neurosciences in terms of quality and numbers.

    b- To this end, the Society carries out introductory activities emphasizing the importance of neuroscience studies and encourages young scientists to conduct research in various branches of neuroscience.

    c- It guides the research topics taking into consideration the future potential of the various fields of basic and clinical neuroscience branches and the conditions and requirements of the country.

    d- It provides individuals wishing to carry out research in various fields of neuroscience with support and scholarships in order that they gain scientific thinking, research, planning skills or learn a special technique. p>

    e- It provides financing for research projects in the field of basic and clinical neuroscience.

    f- It arranges programs allowing for education of researchers to be engaged in Neuroscience. To this end, it organizes courses, scientific meetings, conferences, congresses.

    g- It ensures that neuroscience researchers are spread across the country, and that nation-wide cooperation and coordination are established in similar research areas. It sets up branches for this purpose. p>

    h- It cooperates with international institutions and organizes joint international congresses to ensure the development of basic and clinical neuroscience in our Country.

    i- It prepares such publications as journals or books as well as introductory brochures on neuroscience-related topics.

    j- It collaborates with govermental and private institutions and with the media (press-broadcasting) organizations in connection with the objectives of the Society. p>

Article-3 THE FOUNDERS OF THE SOCIETY

Sara Bahar, Jale Yazıcı, Sema Targıt, A.Emre Öğe, Oğuzhan Çoban, M.Edip Aktin, Mefkure Eraksoy, Ayşen Gökyiğit, Hülya Tireli, Aksel Siva, Meral Erdemir, Sariye Tanyeri, Lütfiye Eroğlu

Activities to be Carried out by the Society and their Manner of conduct

    1-To make studies for effectiveness and improvement of activities,

    2-To organize training programs such as courses, seminars, conferences and panel discussions,

    3-To provide any data, documents, instruments and publications required for attainment of the goal, to set up a documentation center, to publish such newspapers, journals, books and release information newsletters to be distributed to its members in line with its objectives in order to announce its activities,

    4-To provide a healthy working environment and all kinds of technical tools and supplies, equipment (fixtures) and stationary materials to attain the objective, p>

    5-Provided the necessary approvals are obtained, to be involved in fund raising activities and welcome (accept) donations at home and from abroad,

    6-In order to attain the purposes of the Statute, to establish and run economic, commercial and industrial enterprises to earn the income needed,

    7-To set up local, social and cultural facilities and decorate them in order that its members enjoy and use them at their leisure,

    8-To organize or help its members to enjoy such events as meetings with service of meals, concerts, ball (dance), exhibitions, sports, excursions and entertainments for establishment and maintenance of interpersonal relations between its members,

    9-To purchase, sell, take and give on lease movable and immovable property required for the Society’s activities and to create (raise) real rights on the real estate,

    10-In order to attain the object, and if it is deemed necessary, to establish a foundation, a federation or be member of an established federation to set up facilities that the Societies may establish by obtaining the necessary agreements,

    11-To be involved in international activities, to be a member of foreign Societies and institutions and to collaborate with such organizations on projects and conferences,

    12-Should it be deemed necessary for the attainment of the objectives, and subject to observations of the provisions of Act No. 5072 on Relations of Societies and Foundations with Public Agencies and Institutions, to carry out joint projects with the public agencies and institutions that are within its scope,

    13-To find funds for the purpose of providing the Society’s members with food, clothing, etc and other products and services as well as facilities for short term credit,

    14-To set up representative offices at locations deemed fit to carry out the Society’s activities,

    15- In order for the Society to attain such objectives as the above, it may acquire and make profitable the necessary real estate within the limitations of the law. In the meantime, it may give on lease, sell, exchange the same, and accept any real estate as donation. The Scope of the Society The Society is involved in social activities.

Article 4-The Right to be a Member and Membership Procedures:

Individuals and legal entities who have discernment and embrace the objects and principles of the Society and agree to work in this direction and to satisfy the requirements of the Regulations have the right to be members of this Society. However, foreign individuals must also have the right to settle in Turkey to be members. This requirement does not apply to hononary membership.

     Membership application is to be made to the President of the Society in writing, which will result in a decision by the Society’s Administration Board in admission of membership or its refusal within thirty days at the latest. The member whose application is accepted is entered in the register to be maintained for this purpose and on the electronic database. The full members of the Society are the founders of the Society and the individuals admitted by the Administration Board as members upon their applications.

     By the decision of the Administration Boad, individuals who have provided the Society with substantial material and immaterial support may be admitted as honorary members.

Article 5-Resignation from the Membership:

Any member has the right to resign from the membership of the Society by giving notice in writing.

     Upon receipt by the Administration Board of the member’s resignation petition, such resignation is considered to have been finalized. A resignation from the membership does not set the member free from accumulated debts to the Society.

Article 6-Dismissal from Membership:

Events requiring dismissal from Membership of the Society.

     1-To act in violation of the Society’s Statutes,

     2-To decline to perform assigned jobs repeatedly,

     3-To fail to pay the membership contribution (fee) within six months despite the written warnings given,

     4-Not to comply with the decisions taken by the Society’s organs.

     5-To loose eligibility for membership,

    Membership is ceased by decision of the Administration Board in case of confirmation of any of the foregoing events. Records of individuals who have resigned or been dismissed from the Society in the Register of Members are deleted and they may not make a claim to patrimony of the Society.

Article 7-Organs of the Organization:

Below are the organs of the Society.

     1-General assembly,

     2-Administration (Management) Board,

     3-Audit Board,

Article 8-Composition, Meeting Time of the Society’s General Assembly and Procedures for Calling and Holding a Meeting:

The General Assembly, the most authoritative body of the Society, comprises the members recorded in the Society.

     The General Assembly convenes;

     1-Ordinarily at times specified herein,

     2-Extraordinarily as required by the Administration or Audit Board or within thirty days of written request of one fifth of the members there of the Administration or Audit Board.

     The ordinary general assembly is held in December once in 2 years on the date, venue and time to be determined by the Administration Board.

     A call is made by the Administration Board for the General Meeting.

     If the Administration Board fails to call the General Assembly at the request of any member, the Justice of the Peace charges three members to call the general assembly (meeting).

Calling Procedure*

The Administration Board prepares the list of members eligible for attending the general meeting according to the Statute of the Society. The members entitled to attend the general meeting, are called to the meeting whose date, time, venue and agenda are announced in a newspaper or notified in writing or by electronic mail at least 15 days in advance. In this call, it is specified on which date, hour and place the second meeting will be held in case of failure to convene due to the absence of a majority. The interval between the first and the second meeting may not be less than seven days or more than sixty days. 

     In case of a postponement of the meeting for any reason other than the lack of a majority, this is notified to the members in accordance with the calling procedure for the first meeting indicating the reasons for postponement. The seond meeting must be held within six months at the latest of the postponement date. The members are recalled for the second meeting as per rules set forth in paragraph 1.

     The General Assembly (meeting) may not be postponed more than once.

Meeting Procedure*

The general assembly is held with the attendance of an absolute majority of the eligible members and with two thirds thereof in case of amendments to the Statute or in the event of a dissolution of the Society. In case of a postponement of the meeting due to the absence of a majoriy, no pursuant is required for the second meeting. However, the number of attendants may not be less than two times the full number of administration and audit board members.

     The list of members eligible for attending the general meeting is made available at the place of meeting. The officially issued identity cards of members attending the meeting are controlled by the Board Members or officers designated by the Board. The members enter the meeting place by signing opposite their names on a list prepared by the Board.

     The presence of a meeting quorum is confirmed by a report and the meeting is opened by the Chairman or a Member of the Board designated by the Chairman. The absence of a meeting quorum is also indicated in a report issued by the Administration Board.

     After opening the meeting, a chairman to preside at the meeting, and an adequate number of deputy chairmen and a secretary are appointed.

     In voting for appointments to the Society’s organs, members casting votes must present their identity cards to the Presiding Committee and sign their names on the list of attendants.

     It is the responsibility of the Chairman to direct the meeting and to maintain its security.

     At the general meeting, only the items on the agenda are considered. However, matters required in writing by one tenth of attendants to be considered must be added to the agenda.

     At the general meeting, each member has only one vote; the member must cast his vote in person. An hononary member may attend the meeting but may not vote. In the case of a legal entity that is a member, the Chairman of the Board of the legal entity or its designee votes.

     Matters discussed and resolutions passed at the meeting are recorded in the proceedings and signed jointly by the Chairman and secretaries. At the end of meeting, the proceedings (minutes) and other documents are delivered to the Chairman of the Board. The Chairman of the Board is obliged to keep and deliver to the recently elected board such documents within seven days.

Article 9-Procedures and Manner of Voting and making decisions at a General Ass embly:

Unless othwewise stipulated, at the general meeting, the members of Administration and Audit Boards are elected by secret vote (vote by ballot) while decisions on other issues are made openly. Votes by ballot are determined after the conclusion of the vote by an open count of the votes cast by the members. The papers or votes must be sealed by the Chairman of the Meeting after they are properly placedinto empty ballot boxes.

     In open voting, the procedure indicated by the Chairman of the Meeting is followed.

     Resolutions of the General Assembly are passed by an absolute majority of the attendants, provided, however, that decisions on the amendment to the Statutes or a dissolution of the Society must be made by a two thirds majority of the attendants.

Resolutions passed without a Meeting or a Call*

Resolutions passed with the participation of all members in writing, without holding a meeting, and those passed by all members of the Society by convening without compliance to a written call specified herein are valid. The fact that a resolution is passed does not correspond to an ordinary meeting.

Article 10-Duties and Powers of the General Assembly:

The following are considered and decided by the general assembly.

     1-Election of the Society’s organs,

     2-Amendment of the Society’s Statutes,

     3-Consideration of the Administration and Audit Boards’ Report and discharge of the administration board,

     4-Consideration of the budget produced by the Administration Board and approval of it with or without any changes,

     5-Authorization of the administration board to purchase immovables required for the Society or to sell the existing real estate,

     6-Review and approval with or without revisions of directives to be issued by the administration board as regards the Society’s affairs,

     7-Determination of emolument, any allowances, travel allowance and compensations to be paid to the non-public-official chairman and members of the administration and audit boards and of per diems and travel allowances to be paid to members to be charged with society services,

     8-To decide to join or separate from a federation,

     9-The society’s involvement in international activities, participation in or separation from other Societies or institutions abroad,

     10-Any foundation to be established by the Society,

     11-The dissolution of the Society,

     12-Review of and decision on other proposals by the Administration,

     13-Fulfillment of other duties vested in the general assembly board by the Regulations.

     The General Assembly supervises other organs of the Society and may dismiss them at any time for good reasons.

     The General Assembly renders the final decision on admission of or dismissal from membership. As the most authoritative organ of the Society, the General Assembly performs operations not assigned to any other organ of the Society and exercises powers not conferred to them.

Article 11-Formation, Duties and Powers of the Administration Board:

The five full and five substitute members of the Board are appointed by the General Assembly.

     By a decision made at the first meeting after the appointment, the Board designates the Chairman, deputy chairman, secretary, accountant and the member.

     The Board may be called for a meeting at any time provided all members are notified. It convenes by attendance of more than the half of the full number of members. Decisions are made by an absolute majority of the full number of the attendants.

     In case of a vacation of a seat of a member of the Board by resignation or for any other reason, a substitute member must be invited to the office according to a majority vote taken at a general assembly.

Duties and Powers of the Board

The Administration Board deals with the following matters.

     1-To represent the Society or authorize one or more members for this purpose,

     2-To perform procedures for Revenue and Expense accounts and to prepare and present to the general assembly the budget for the coming period,

     3-To issue and present for approval of the general assembly the directives for activities of the Society,

     4-With the authority conferred by the general assembly, to acquire real estate, to sell movable and immovable property owned by the Society, to have building or facilities erected (constructed) to enter into rental contracts, to arrange for creation of pledges, mortgages or realestate rights in favor of the Society,

     5-To ensure that representative offices and branches are set up in locations deemed suitable,

     6-To execute (implement) the decision taken at the general assembly,

     7-At the end of each operational year, to prepare the business account or balance sheet and income statement of the Society and the report explaining activities (operations) of the Board, and to present them to the general assembly when it convenes,

     8- To ensure that the budget is implemented,

     9-To decide on admissions to or dismissals from membership to the Society.

    10-To make and implement any decisions on activities specified in Article 2 hereof for attainment of objectives of the Society,

     11-To fulfill duties vested in and powers conferred by the legislation,

Article 12-Formation, Duties and Powers of the Audit Board:

Three full and three substitute members of the Audit Board are appointed by the General Assembly.

     In case of a vacation of the seat of a full member of the Board for resignation or any other reasons, it is required that the substitute members be invited to office according to a majority of the votes obtained at the general meeting.

Duties and Powers of the Bord of Auditors

In accordance with the principles and procedures specified herein and at intervals not exceeding a period of one year, the Board of Auditors inspect whether or not the Society operates in the direction of scope set forth to be conducted in order that the objective and purpose specified herein;whether or not legal books, accounts and records are kept and maintained in accordance with the regulations and the Statutes of the Society, and presents the conclusions of such an audit in a report to the Administration Board and to the general assembly when it convenes.

     If necessary, the Board of Auditors invites the general assembly to meet.

Article 13-Revenue sources of the Society:

Below are the revenue sources of the Society.

     1-Membership Fee (Contribution):, A contribution of NTL 20 is received annually. The general assembly has the right to raise or decrease such amounts.

     2-Donations and assitances made voluntarily by individuals and legal entities to the Society.

     3-Revenues from such events as tea party and meetings with service of meals, excursions, entertainments, performances, concert, sport events, conferences organized by the Society,

     4-Revenues from endowment of the Society,

     5-Grants and aids raised under provisions of legislations to fund raising.

     6-Income from commercial operations undertaken by the Society to obtain income needed for attainment of its objective.

     7-Other income.

Article 14-Society’s Principles and Procedures for Maintenance of Legal Books to be kept *:

At the Society, a legal book is maintained on a business account basis. However, should the annual gross revenue exceed the limit specified in Article 31 of the Society’s Regulations, legal books are maintained on the sheet basis commencing as from the following accounting year.

     In case of adoption of the balance sheet basis, if the revenues have been below the limit specified above for two consecutive fiscal years, it is allowed to return to a business account basis as from the following year.

     Legal books may be maintained on the balance sheet basis by the decision of the Board irrespective of the foregoing limit.

     Where a commercial firm is established by the Society, legal books are kept by this business separately under the provisions of the Tax Procedure Act. Recording Method

Books and records of the Society are maintained in accordance with procedures and principles set forth in the Society’s Regulations.

Legal Book to be kept

At the Society, the following legal books are kept (maintained).

     a)Below are the legal books to be kept on the business account basis and the rules to be followed:

          1-Register of Resolutions: The resolutions of the Board are entered in this register by date and number which are undersigned by the attendants.

          2-Register of Members: Identity details of members, admission and resignation (dismissal) dates from the Society are recorded in this book. Admission fee and annual contributions paid by the members may be posted in this book.

          3-Register of Documents Recorded: Received and dispatched documents are entered in this register in order of date and number. The originals received and the copies of papers sent are filed. The printouts of e-mails exchanged are also kept.

          4-Register of Fixtures: Acquisition dates and forms of fixtures owned by the Society, places they are being used or delivered (assigned) and deletion of those completed their technical terms are entered in this register.

          5-Business Account Book: Revenues received and disbursements made for and on behalf of the Society are posted in this book clearly and regularly.

          6-Register of Receipts (Vouchers): Serial and order numbers of receipts (vouchers), names, signatures of recepients and returners thereof and return dates are recorded in this book.

     b)Below are the legal books to be kept on the balance-sheet basis and the rules to be followed:

          1-In case of maintenance of books under the balance sheet principle, those specified in items 1, 2, 3 and 6 of paragraph (a) are kept.

          2-Journal, Ledger and Inventory Book: The keeping of and recording in such books are achieved as per directives in the Accounting System Application (Practice) General Communique issued under the Tax Procedural Act and by the authority conferred by this Act to the Ministry of Finance. Certification of Legal Books

Legal books required to be kept by the Society are certified by the Provincial Office of Societies or a notary public before the beginning of their use. Such books must continue to be used until all pages thereof are used and interim certifications thereof are not allowed. However, the legal books kept under the balance sheet principle and those with form and continuous form leaves must be certified on the last month of each year precedent to the year in which they will be used.

Preparation (Production) of Income Statement and Balance Sheet

In the case of maintenance of books under the business account principle, the “Business Account Statement” (as specified in ANNEX 16 of the Society’s Regulations) is prepared at year-ends (31 December). In case of maintenance of books under the balance-sheet principle, the balance-sheet and income statement are prepared in accordance with the Accounting System Practice General Communique issued by the Finance Ministry at year-ends (31 December).

Article 15-The Society’s Revenue and Expense Transactions*

Revenue and expense vouchers

The Society’s revenues are received by the “Receipt” (copy of which is incorporated in ANNEX 17 to the Societys Regulations). Where the revenues are received (collected) through the bank, such vouchers as the bank note or statement of account (extract) issued by the bank is regarded as a receipt.

     As for the Society’s expenses, payments are made by such disbursement vouchers as invoice, retail slip, receipts issued by the self-employed. However, for disbursements by the Society under Section 94 of the Income Tax Act, expense, a voucher is issued pursuant to the Tax Procedural Act while an “Expense Receipt” (copy of which appears on ANNEX 13 to the Society’s Regulations) is issued for disbursement not covered by that section.

     Free (of charge) deliveries of products or services to be effected by the Society to individuals, institutions or organizations are made by “Delivery Note of Aid in Kind” (copy of which is found in ANNEX 14 to the Society’s Regulations). However, free deliveries of products and services by individuals, institutions or organizations to the Society are accepted by “Receipt Note of Donation in Kind” (copy of which is inserted in ANNEX 15 to the Society’s Regulations).

Receipts

 “Receipts” to be used for collection of revenues (in form and size as specified in ANNEX 17 to the Society’s Regulations) are printed in a printing house in accordance with the decision of the Board.

     Procedures for arrangement of printing, checking and taking delivery from the printing house of the receipts, for recording in the register delivery and receipt by and between the former and new accountants and using such vouchers by individual(s) to receive revenuee for and on behalf of the society and for delivery of funds collected are made pursuant to relevant provisions of the Society’s Regulations.

Authorization

Individual(s) to receive reevenue for and on behalf of the Society are designated by a decision of the Board with an indication of the authorization period. The “Authorization” (copy of which appears on ANNEX 19 to the Societys Regulations) containing full identity particulars, signature and photographs of the individual(s) who will receve revenue is issued in triplicate by the Society and approved by the Chairman of the Board of the Society. One copy of each certificate of Authorization is delivered to the Society’s Units. Any changes of Authorizations are notified by the Chairman of the Board to the Society’s Unit within fifteen days.

     An individual who will receive revenue for the society, however,can begin to collect revenue after one copy of the certificate of authorization issued for him/her has been delivered to the society’s unit.

     Provisions of the Society’s Regulations relating to use, renewal, return and other aspects of the certificate of Authorization are to be observed.

Term During which the Revenue and Expense Vouchers are kept

 Except for the legal books, and without prejudice to terms specified in specific laws, the receipts, disbursement vouchers and other instruments used by the Society are kept for a period of 5 years according to the order of the number and the date on which they have been recorded in the books.

Article 16-Submission of Statement*:

The “Society’s Statement” (provided in ANNEX 21 to the Societys Regulations) concerning the operations of the Society in the previous year and the year-end results of revenue and expense transactions is to be completed by the Board and presented by the President of Society to the Office of the governor of the locality within the first four months of each calendar year.

Article 17-Duty to Communicate*:

Communications to be made to the Public Authorities;

Communication of Conclusions of the General Assembly

     Within thirty days of closure of the ordinary and extraordinary general meetings, the “Report on Results of the General Assembly” (as shown in ANNEX 3 to the Societys Regulations) containing data of full, and substitute members appointed to the Administration and Audit boards and other organs and attachments thereto are provided by the Chairman of the Board to the office of the governor of the locality:

     The General Assembly Results Report is accompanied by;

     1-A copy of minutes of the general meeting, signed by the Chairman of the Meeting, deputy chairman and the secretary,

     2-A copy of former and new texts of amended articles of the Statute and the final text of the statute of the society each page of which is signed by the administration board, in case of an amendment of a Statute.

 Notification of Real Estate

By completing the “Real Estate Report” (presented in ANNEX 26 to the Society’s Regulations), the real estate acquired by the Society is communicated to the local governorship. Notification of Aid Obtained by the Society from Abroad (Foreign Countries) An aid be obtained from foreign sources, the local governorship is notified of the iniative by completing and delivering two copies of the “Report on Acceptance of Foreign Aid” (as descripbed in ANNEX 4 to Society’s Regulations) prior to receipt thereof.

     This report (statement) is to be accompanied by the copy of the board’s decision on receipt of foreign aid, the copy of relevant protocol if any, the copy of agreement and similar instruments and the bank note, statement of account and similar voucher for the bank account in which the aid is transferred.

     It is mandatory that the cash aids are received through banks and that the requirement of notification is satisfied prior to utilization thereof.

Reporting of Joint Projects Jointly Carried out with Public Agencies

The copy of each of the protocols made for joint projects conducted by the Society in collaboration with public agencies in the scope of the society and the project is to be attached to the “Project Report” (as shown in ANNEX 23 to the Societys Regulations) and delivered to the Governorship of the locality where the society is headquartered within one month of the protocol date.

Notification of Changes

Within thirty days of change, the local governorship is to be notified of changes in the seat of the Society by the “Seat change Report” (as described in ANNEX 24 to the Society’s Regulations), changes in the Society’s organs out of general assembly by “Report on Changes in Society Organs” (as shown in ANNEX 25 to the Societys Regulations).

     The local governorship is to be notified of amendments to the Statutes in an attachment to the general assembly report within thirty days of the general meeting at which such an amendment has been made.

Article 18-Internal Audit of the Society:

An internal audit may be conducted in the society by the general assembly, administration board or the audit board and an audit may be caused to be conducted by independent audit firms. The fact that an audit has been conducted by the general assembly, administration board or independent audit firms does not discharge the audit board from the obligation to audit.

     The Society is audited by the board of auditors at least once a year. If necessary the general assembly or the board may conduct an audit or arrange for conduct of an audit by independent audit firms.

Article 19-Procedures for the Society to Borrow:

In order for the Society to attain its objective and perform its activities, if a loan is needed, it may borrow in accordance with a decision of the board. Such a borrowing transaction may be the acquisition of products or services on credit or in cash. However, such borrowing must not be in amounts that can not met by society’s resources and in a nature that causes the Society to be insolvent.

Article 20-How to Amend the Statutes:

The Statutes may be amended by a resolution of the General Assembly. A 2/3 majority of members eligible to attend the general assembly is required for amendment of the Statutes by the general assembly. In the event that a meeting is postponed due to the lack of a majority, no quorum is required at the second meeting. However, the number of members attending such meeting can not be less than two times the full number of members of the administration and audit boards. The quorum required for an amendment to the Statutes is 2/3 of votes of attending and voting members. Voting for an amendment of the statutes at the general meeting is held openly.

Article 21-Dissolution of the Society and Liquidation of its Endowment:

The General Assembly may at any time decide to dissolve the Society. 2/3 of members entitled to attend the general meeting is required for discussion and consideration of dissolution at the general meeting. In the event that the meeting is postponed due to lack of a majority, no quorum is required at the second meeting. However, the number of members attending such a meeting can not be less than two times the full membership of the administration and audit boards. The quorum required for decision of dissolution is 2/3 of votes of attending members. Voting for dissolution at the general meeting is held openly.

Winding up Procedures

Upon adoption by the general assembly of dissolution, the liquidation of the society’s cash, goods and benefits is achieved by the board of receivers comprising the members of the last Board. Such operations are initiated on the date dissolution has been adopted by the general assembly or the one on which automatic dissolution has been finalized. During the period of liquidation, the phrase of  “BRAIN RESEARCH Society in course of Liquidation” is used for all operations.

     The Board of Receivers is charged with and has the authority to complete all of the winding up procedures for the society’s cash, goods (property), and benefits pursuant to the regulations. First, this board examines the accounts of the Society. In this process of examination the society’s books, receipts, disbursement (expense) vouchers, records of land registry and banks and other instruments are ascertained, and assets and liablities are itemized in a report. In this process of winding up, a call is directed to creditors of the Society and they are paid by encashing the property if any. Should the Society be a creditor, the accounts receivable are collected. The whole amount of money, goods and benefits remaining after collection of amounts receivable and payment of amounts due are transferred to the point determined by the general meeting.

     All operations involved in liqudation are represented in the liqudation report and such operations are completed within three months except for extra periods granted by the governorship officials for good reasons.

     Within seven days of completion of procedures for winding up of the society’s cash, property and benefits and for transfer of the balance, the office of governor where the seat of the society is situated must be notified by the board of receiver in writing of the case, it being accompanied by a copy of liqudation report.

     As the board of receivers, the members of the last Board is under obligation to keep the books and documents of the Society. This duty may be assigned to any one member of the Board. Such books and documents must be kept for a period of 5 years.

Article 22-Omission of Provision:

The Societies Ac, the Turkish Civil Code, and the Societies Regulations issued with reference to the laws and provisions of other laws relating to societies apply to matters not covered by this statute.