STATUTE
“ASSOCIATION OF THE MEDITERRANEAN DELTAS (DELTA-MED) ETS”

TITLE I: NAME, PURPOSE AND ACTIVITYTITLE II: MEMBERSTITLE III: ORGANS OF THE ASSOCIATIONTITLE IV: ASSETS, ECONOMIC RESOURCES AND BUDGETSTITLE V: DISSOLUTION AND LIQUIDATION

TITLE I
NAME, PURPOSE AND ACTIVITY

ARTICLE 1
ESTABLISHMENT AND NAME

  1. The Mediterranean Delta Association (DELTA-MED) established on 6 December 2002 in Amposta (Tarragona, Spain) by the following Founders:
  1. for the EBRO DELTA:
  • Comunidad General de Regantes del Canal de la Derecha del Ebro;
  • Comunidad de Regantes – Sindicato Agrícola del Ebro;
  1. for the PO DELTA:
  • Consorzio di Bonifica Delta Po Adige;
  • Consorzio di Bonifica I Circondario Polesine di Ferrara;
  • Consorzio di Bonifica II Circondario Polesine di San Giorgio;
  1. for the RODAN DELTA:
  • Syndicat des Riziculteurs de France et Filière;
  • Tour du Valat Station Biologique;
  1. for the DANUBE DELTA:
  • Danube Delta Biosphere Reserve Authority;
  1. for the NILE DELTA:
  • Centre for Environment & Development for the Arab Region and Europe;
  1. for the EVROS DELTA:
  • Association for the Protection & Promotion of Evros Delta;

assumes the name “Mediterranean Delta Association (DELTA-MED) ETS” (hereinafter referred to as the “Association”), as a recognised association and Third Sector entity operating in accordance with Article 18 of the Constitution of the Italian Republic, the provisions of the Civil Code on associations and Legislative Decree No. 117 of 3 July 2017, as amended and supplemented (Third Sector Code).

ARTICLE 2
PURPOSE

  1. The Association is a non-governmental and apolitical, non-profit organisation and exclusively pursues the aims of promoting sustainable development, protecting the environment, ecosystems and the quality of life, also in response to climate change, scientific research and cultural promotion, as activities of general interest within the meaning of Article 5, paragraph 1, letters e), h), i), of the Third Sector Code.
  2. The Association aims at constituting a permanent “forum” for the analysis, discussion and treatment at international level of the hydraulic, coastal, environmental, economic, productive and social problems of the Mediterranean Deltas, Lagoons and Wetlands, and in general of the territories affected by the effects of climate change, with particular attention to the promotion of sustainable development, the protection of the environment, ecosystems and the quality of life, in the relevant areas.

ARTICLE 3
ACTIVITY

  1. For the achievement of its purposes the Association may carry out the following activities:
  1. organising meetings, conferences and seminars on the problems of the Deltas, Lagoons, Wetlands and territories affected by climate change, with the participation of experts in the various specialist areas;
  2. formulating proposals and recommendations for the most appropriate solutions to the problems of coastal regression and erosion, subsidence, salinisation and any other problems arising from climatic effects or environmental degradation;
  3. promoting and fostering synergies and links between its Members, while respecting the prerogatives and peculiarities of each, in order to achieve a fruitful collaboration between them and a concrete and fruitful sharing of their wealth of knowledge, skills, expertise and projects;
  4. receiving and disseminating information on the programmes and activities of public administrations and other entities competent in the governance and management of the Deltas, Lagoons, Wetlands and territories affected by the effects of climate change, with particular attention to those operating in EU Member States;
  5. cooperating with associations, foundations and other public or private entities that carry out their activities in the Deltas, in the Lagoons, in Wetlands or in territories affected by the effects of climate change and that pursue aims similar or similar to those of the Association;
  6. drafting reports on plans, programmes and projects for the promotion of sustainable development and the protection of the environment, ecosystems and quality of life in the Deltas, Lagoons, Wetlands and territories affected by the effects of climate change, prepared by public administrations or other entities competent in their governance and management;
  7. carrying out, also in cooperation with universities and specialised research centres, study, research, experimentation and training activities, also through the activation of study courses, specialisation and master’s schools, in its fields of activity, with a special focus on territorial resilience actions with respect to climate change;
  8. promoting and organising events, meetings and other events that create synergies and collaborations with other public and private operators in their fields of activity and foster contacts with the public;
  9. entering into any act or contract useful for the functioning of its structure and the execution of the operations resolved upon by its organs, including the promotion and establishment of coordinating bodies of entities having the same purposes; 
  10. carrying out any other activity instrumental to the pursuit of its purposes, in accordance with Article 6 of the Third Sector Code.

ARTICLE 4
LOCATION AND AREA OF ACTIVITY

  1. The Association has its registered office in Italy, in the municipality of San Donà di Piave (Venice), at Piazza Indipendenza No. 29.
  2. Any change in the registered office, established by resolution of the Board of Directors and communicated to the competent offices, does not entail a change in the articles of association.
  3. The Association shall operate mainly in Italy, but may in any case, within the scope of its social purposes, carry out activities in other countries where its Members reside or operate.

ARTICLE 5
DURATION

  1. The Association is of unlimited duration.
  2. The Association may be dissolved at any time by decision of the General Assembly, taken in accordance with the provisions of this Statute.

TITLE II
MEMBERS

ARTICLE 6
GENERAL RULES

  1. Members are divided into:
  • Ordinary Members;
  • Extraordinary Members.
  1. Legal persons representing collective economic interests who carry out their activities in the Deltas, Lagoons, Wetlands or in territories affected by the effects of climate change can participate in the Association as Ordinary Members, according to Article 7.
  2. Other natural or legal persons may join the Association as Extraordinary Members in the cases provided for in Article 9.
  3. The statutes and other acts regulating the organisation and functioning of the legal persons participating in the Association shall be deposited at the Association’s headquarters and shall be updated in a timely manner.
  4. All Members undertake to comply with this Statute, not to perform acts or behave even potentially in conflict with the interests of the Association or such as to harm its prestige and honour, and to place at its disposal the knowledge, experience, skills and resources necessary for the best pursuit of its statutory purposes.

ARTICLE 7
ORDINARY MEMBERS

  1. Associations, foundations and other public and private bodies that represent collective interests in accordance with the law of their country and that carry out their activities in the Deltas, Lagoons, Wetlands or in territories affected by the effects of climate change in the Mediterranean and related areas may participate in the Association as Ordinary Members.
  2. Legal persons referred to in point 1 shall be legitimately constituted in accordance with the law of their country. The existence of this requirement may be demonstrated by means of the certification of the corresponding public Registers and the other means of proof admitted by the Italian legal system.
  3. The admission of new Ordinary Members must be proposed by at least three Members and deliberated by the General Assembly in the first session following the presentation of the proposal. If the proposal concerns a subject belonging to a country already represented in the Association, at least one of the proposers must belong to that country.
  4. Candidates for admission must present to the General Assembly, at least ten days before the meeting scheduled for the deliberation, the documents verifying the existence of the requirements of this Article.
  5. Founders are Ordinary Members by right, unless they resign.

ARTICLE 8
RIGHTS AND OBLIGATIONS OF ORDINARY MEMBERS

  1. Ordinary Members have the right to:
  1. take part in the General Assembly, with the right to intervene and vote, in accordance with the provisions of this Statute;
  2. take part in the Association’s activities and work towards the achievement of its aims;
  3. elect or be elected to the Association’s governing bodies;
  4. make proposals to the Association’s governing bodies regarding the organisation and functioning of the Association and the exercise of its activities.
  1. Ordinary Members are obliged to:
  1. hold the offices to which they have been elected;
  2. participate in the activities of the Association and work towards the achievement of its aims;
  3. pay the membership fees decided by the General Assembly in accordance with this Statute.

ARTICLE 9
EXTRAORDINARY MEMBERS

  1. Individuals or legal entities, including individual scholars and professionals, universities and research centres, who carry out their activities in the Deltas, Lagoons, Wetlands or in territories affected by the effects of climate change, or work in the field of environmental protection, ecosystems and quality of life and whose contribution is considered useful for the pursuit of the aims of the Association, may become Extraordinary Members.
  2. The admission of new Extraordinary Members must be proposed by at least three Members of the Association, with justification of the importance of the contribution that the candidate undertakes to make to the Association, and decided by the General Assembly at the first meeting following the presentation of the proposal. If the proposal concerns a person from a country already represented in the Association, at least one of the proposers must belong to that country.
  3. Candidates for admission must submit to the General Assembly, at least ten days before the meeting scheduled for the deliberation, the documents verifying the existence of the requirements of this Article.
  4. Any person who has been President of the Association is an Extraordinary Member by right, unless he/she renounces.
  5. The Board of Directors, with a motivated resolution to be communicated to the General Assembly at the first useful meeting, may confer the title of Extraordinary Member to natural persons who have significantly contributed to the Association’s activities in an institutional or technical capacity. In cases of particularly significant contribution, the title may be accompanied by the title of “Honorary Member”.

ARTICLE 10
RIGHTS AND OBLIGATIONS OF EXTRAORDINARY MEMBERS

  1. Extraordinary Members have the same rights and obligations as Ordinary Members, subject to the particularities concerning the payment of membership fees and voting rights provided for in this Statute.
  2. Extraordinary Members are exempt from the payment of membership fees due by Ordinary Members, without prejudice to the possibility of making voluntary, periodic or one-off contributions to the Association.

ARTICLE 11
EXCLUSION OF MEMBERS

  1. Members may lose their status, subject to a resolution of the General Assembly, for the following reasons:
  1. renunciation notified in writing to the Executive Board;
  2. non-payment of membership fees by the deadline set by the General Assembly;
  3. exclusion for the reasons set out in point 2.
  1. Any Member who acts or behaves in breach of this Statute or in conflict with the interests of the Association or to the detriment of its prestige and honour may be excluded from the Association by resolution of the General Assembly, on the proposal of the Executive Board, after the corresponding charges have been assessed and the reasons for them have been stated. In such cases, the person concerned has the right to be heard by the Executive Board during the preliminary investigation phase and, if so requested, by the General Assembly before the final decision.

TITLE III
ORGANS OF THE ASSOCIATION

ARTICLE 12
ORGANS

  1. The organs of the Association are:
  • the General Assembly;
  • the Executive Board;
  • the President;
  • the Secretary;
  • the Treasurer;
  • the Technical and Scientific Committee;
  • the Control Board.

CHAPTER I
GENERAL ASSEMBLY

ARTICLE 13
COMPOSITION AND MEETINGS

  1. The General Assembly is composed of representatives of Ordinary Members and Extraordinary Members or, if the latter are natural persons, of themselves.
  2. The General Assembly is chaired by the President.
  3. The General Assembly shall meet in ordinary session at least once a year upon convocation by the President, who shall determine the place of the meeting, the date of the meeting and the agenda. One of the items on the agenda of the ordinary sessions is the presentation of the activities carried out by the President and the Executive Board since the last meeting of the General Assembly.
  4. The General Assembly shall meet in extraordinary session upon convocation by the President at the initiative of the President or the Executive Board, or when requested by one fifth of the members of the General Assembly by written communication to the President, duly signed by the petitioners, stating the reason for the convocation and the agenda.
  5. The General Assembly shall meet, also by audio/video connection, at the registered office or other place indicated in the notice of convocation.
  6. Meetings by audio/video connection may be held under the following conditions, which shall be noted in the relevant minutes:
  • that the President and the Secretary are present in the same place, and that they are responsible for drawing up and signing the minutes;
  • that the President is able to ascertain the identity and legitimacy of those present, regulate the proceedings of the meeting and ascertain and proclaim the results of the votes;
  • that the President and Secretary are able to adequately perceive the meeting events that are the subject of the minutes;
  • that participants are allowed to take part in the discussion and vote on the items on the agenda, as well as to view, receive or transmit documents;
  • that the notice of meeting (except in the case of a full meeting) indicates the places connected by audio/video link-up by the Association, where participants may gather, and that the meeting is deemed to have been held in the place where the President and Secretary are present.
  1. The General Assembly is duly constituted with the presence of as many Members representing at least half of the available votes.

ARTICLE 14
POWERS

  1. The General Assembly:
  1. approves the Association’s activity plan;
  2. approves the annual budget and the annual balance sheet of the Association, drawn up in accordance with Article 13 of the Third Sector Code;
  3. approves the Association’s social report in the cases and manner provided for in Article 14 of the Third Sector Code;
  4. elects the other organs of the Association;
  5. establishes the membership fees and decides on possible exemption for Extraordinary Members;
  6. decides on the admission and exclusion of members of the Association in the cases provided for in this Statute;
  7. approves amendments to the Statute;
  8. decides on the dissolution of the Association;
  9. exercises the other competences attributed to it by the Statute and Article 25 of the Third Sector Code.

ARTICLE 15
DISTRIBUTION OF VOTES AND VOTING PROCEDURE

  1. Each Ordinary Member shall have one vote.
  2. The Extraordinary Members together have a total of votes equivalent to one third of their number with a maximum of five votes. For the expression of their will, they decide by internal vote how the votes they have at their disposal are to be directed and designate a Spokesperson to express their position in the General Assembly. In the event of divergence between the positions of the Extraordinary Members, their votes shall be attributed proportionally, and may be expressed in decimals.
  3. The decisions of the Assembly are adopted, depending on the circumstances, as specified below, by achieving a number of affirmative votes exceeding the majority of those entitled to vote (absolute majority) or by obtaining a number of favorable votes greater than half of the valid votes (simple majority).
  4. Each Member may confer representation to another Member for the purpose of voting by means of a written proxy submitted to the Executive Board prior to the beginning of the voting on the corresponding agenda item or the proposal subject to deliberation. The Secretary shall verify the validity of the proxy and, in the event of a positive outcome, shall forward it to the General Assembly. The proxy may be examined by any Member.

ARTICLE 16
DECISIONS

  1. The General Assembly shall deliberate on the items on the agenda. Further items may be introduced with the unanimous consent of those present.
  2. Resolutions of the General Assembly shall be passed by a simple majority of votes, unless otherwise stated in the Statute. In the event of a tie, the vote of the President shall prevail.

ARTICLE 17
MINUTES OF THE MEETINGS

  1. Minutes of the meetings of the General Assembly shall be drawn up containing a concise report of the decisions taken, with opposing views if requested by those who expressed them.
  2. The minutes are signed by the Secretary with the authorisation of the President and are subsequently transcribed in the special book of meetings and resolutions of the General Assembly, kept at the headquarters of the Association.
  3. The Secretary, with the authorisation of the President, may issue certificates relating to the resolutions contained in the minutes to Members who so request.

CHAPTER II
EXECUTIVE BOARD

ARTICLE 18
COMPOSITION AND MEETINGS

  1. The Executive Board consists of the President and two other members elected by the General Assembly.
  2. The Executive Board meets upon written convocation by the President, who fixes the place of the meeting, the date and the agenda.
  3. The Executive Board shall be convened for at least two ordinary meetings each year.
  4. The Executive Board shall meet in extraordinary session on the initiative of the president or when requested by one of its members by written communication to the president, duly signed by the requesting member, stating the reason for the convocation and the agenda.
  5. Meetings by audio/video connection may be held under the following conditions, which shall be noted in the relevant minutes:
  • that the President and Secretary are present in the same place, and that they are responsible for drawing up and signing the minutes;
  • that the President is able to ascertain the identity and legitimacy of those present, regulate the proceedings of the meeting and ascertain and proclaim the results of the votes;
  • that the President and Secretary are able to adequately perceive the events to be recorded in the minutes;
  • that it is possible for those present to take part in the discussion and in the simultaneous vote on the items on the agenda, as well as to view, receive or transmit documents; 
  • that the notice of call indicates the audio/video link-up locations provided by the Association, where those present may attend, the meeting being deemed to have been held in the place where the President and Secretary are present.
  1. The members of the Executive Board shall hold office for three years and may be re-elected  for a maximum of three consecutive terms.
  2. The President appoints a Vice-President from among the members of the Executive Board, who replaces the President in cases where the President cannot perform his duties due to illness, absence or other justified reasons.
  3. The Executive Board may, by its own resolution, assign specific functions to its members according to their respective competences.
  4. The members of the Executive Board shall perform their duties free of charge, without prejudice to the reimbursement of expenses incurred in the performance thereof.
  5. A meeting of the Executive Board is valid if all its members are present. The Secretary and the Treasurer participate in the meetings of the Board without voting rights.

ARTICLE 19
POWERS

  1. The Executive Board:
  1. adopts the Association’s activity plan and submits it to the General Assembly for approval;
  2. adopts the budget and plans for any action of the Association whose approval is the responsibility of the General Assembly;
  3. draws up the Association’s draft annual balance sheet in accordance with Article 13 of the Third Sector Code and submitting it to the General Assembly for approval;
  4. draws up the Association’s draft social report in the cases and manner provided for by Article 14 of the Third Sector Code and submits it to the General Assembly for approval;
  5. approves the minutes of its meetings and draws up the annual budget report, reporting on the Association’s activities in the previous year;
  6. receives regular information from the President on the progress of the budget and the actions undertaken by him on behalf of the Association;
  7. exercises any other competencies assigned to it by the Statute.
  1. The Executive Board may delegate the exercise of specific competencies to the President.

ARTICLE 20
DECISIONS

  1. The Executive Board shall deliberate on the items on the agenda. Further items may be introduced with the unanimous consent of those present.
  2. Each member of the Executive Board, including the President, has one vote.
  3. Resolutions of the Executive Board shall be adopted by majority vote, unless the Statute provides otherwise.

ARTICLE 21
MINUTES OF THE MEETINGS

  1. Minutes shall be kept of the meetings of the Executive Board, containing a brief report of the decisions taken, with opposing views, if requested by those who expressed them.
  2. The minutes are signed by the Secretary with the authorisation of the President and are subsequently transcribed in the special book of meetings and resolutions of the Executive Board, kept at the headquarters of the Association.
  3. The Secretary, with the authorisation of the President, may issue certificates concerning the resolutions contained in the minutes to the members of the Executive Board who so request.

CHAPTER III
PRESIDENT, SECRETARY AND TREASURER

ARTICLE 22
PRESIDENT

  1. The President is elected by the General Assembly by an absolute majority from among its members. After the second ballot, a simple majority shall suffice.
  2. The President is the legal representative of the association before third parties and in court. He may delegate his deputy to represent the association from time to time and for individual acts.
  3. The President promotes the activities of the association, coordinates and stimulates the action of the Board and the General Assembly in accordance with their respective functions, ensures that they are informed and supervises the general course of the association.
  4. The President:
  1. presides over meetings of the Executive Board and the General Assembly, sets the agenda and directs their work;
  2. borders payments and may make individual expenditures the amount of which does not exceed Euro 5,000.00, to be submitted for ratification to the Executive Board at the first useful meeting; the Executive Board is responsible for higher expenditures;
  3. maintains relations with organisations, institutions, public and private enterprises and other bodies, also with a view to establishing cooperation and support for individual initiatives of the Association;
  4. for reasons of urgency, may take any action in defence of the Association’s interests, including appearing in court, bringing actions or responding to injunctions of any kind; in this case, he shall report as soon as possible to the Executive Board, which shall ratify his decisions so that they are valid.
  1. The President shall hold office for three years and may be re-elected  for a maximum of three consecutive terms.
  2. The President may be dismissed for just cause at any time by the General Assembly by reasoned resolution adopted by absolute majority and communicated to him in writing at least thirty days in advance.
  3. In the event of the absence or impediment of the President, the Vice-President shall perform the duties of the President.
  4. In the event of early termination for any reason of the President, the person appointed by the Executive Board to replace him shall remain in office until the expiry of the Executive Board.

ARTICLE 23
SECRETARY

  1. The Secretary is elected by the General Assembly by simple majority.
  2. The Secretary shall assist the President in the performance of his duties.
  3. The Secretary:
  1. convenes the meetings of the Executive Board and the General Assembly by order of the President;
  2. drafts the minutes of the meetings of the Executive Board and the General Assembly and keeps the records of the minutes of these bodies;
  3. keeps any other documentation of the Association prepared, also in digital format, in compliance with the regulations in force;
  4. fulfils the obligations set out in Article 14 of the Third Sector Code in the cases provided for therein;
  5. takes care of the Association’s communication activities, the website and other forms of dissemination according to the programmes and decisions taken by the Executive Board.
  1. The Secretary remains in office for three years and may be re-elected.
  2. The Secretariat of the Association is settled at the Association itself. The activities of the Secretariat shall be carried out by the figures designated for this purpose by the President, in agreement with the Consorzio di Bonifica Veneto Orientale. The Consortium shall provide the Secretary with the necessary assistance for the performance of his duties.
  3. Any change in the seat of the Secretariat shall not entail any amendment to the articles of association, except by special resolution of the Governing Board and subsequent communication to the competent offices.

ARTICLE 24
TREASURER

  1. The Treasurer is elected by the General Assembly by simple majority.
  2. The Treasurer controls the income and expenditure and manages the economic relations of the Association according to the instructions of the President and in coordination with the Secretary.
  3. The Treasurer:
  1. arranges for the payments of the Association by acts signed by the President or the Secretary;
  2. arranges for the issuing of invoices and other accounting documents of the Association and collects the relevant amounts, in agreement with the President and the Secretary;
  3. presents the budget and the balance sheet of the Association to the General Assembly, representing the Executive Board.
  1. The Treasurer shall hold office for three years and may be re-elected.
  2. For reasons of efficiency, the General Assembly may decide that the functions of the Treasurer shall be performed by the Secretary.

CHAPTER IV
OTHER ORGANS

ARTICLE 25
TECHNICAL AND SCIENTIFIC COMMITTEE

  1. A Technical and Scientific Committee is constituted at the Association with advisory and technical-scientific support functions for research, experimentation and training activities.
  2. The Technical and Scientific Committee is composed of five external experts in the Association’s fields of competence, appointed by a simple majority of the General Assembly, on the proposal of the Executive Board.
  3. The Technical and Scientific Committee elects a Spokesperson from among its members.
  4. The members of the Technical and Scientific Committee shall hold office for three years and may be re-appointed. The term of office of the members of the Technical and Scientific Committee shall expire at the end of the term of office of the Executive Board.
  5. The Technical and Scientific Committee expresses its mandatory opinion on measures pertaining to the exercise of research, experimentation and training activities and may submit advisory opinions and proposals on the Association’s programmes and objectives to the Executive Board.

ARTICLE 26
CONTROL BOARD

  1. The General Assembly, upon the proposal of the President, by resolution adopted by an absolute majority of the members, may appoint a Control Board.
  2. The Control Board, if appointed, shall consist of an Auditor chosen from among the legal auditors enrolled in the appropriate registers or, alternatively, of a Board of Auditors consisting of three members, all chosen from among the legal auditors enrolled in the appropriate registers.
  3. In the case of the appointment of a Board of Auditors, the Executive Board shall also appoint its Chairman by the same resolution.
  4. The Control Board:
  1. monitors compliance with the law, the Statute, the regulations and other internal rules of the Association, and compliance with the principles of proper administration of the Association;
  2. monitors the adequacy of the Association’s organisational, administrative and accounting structure and its actual operation;
  3. supervises the management of the Association and the observance of the economic and financial balance;
  4. ascertains the proper keeping of the accounting records;
  5. examines the proposed budget and balance sheet, drawing up the relevant reports;
  6. performs the necessary cash audits;
  7. participates, without the right to vote, in the meetings of the Executive Board and the General Assembly.
  1. The Control Board remains in office for three years and may be re-elected.
  2. The findings, proposals and remarks of the Control Board are recorded in a special book, which is kept at the headquarters of the Association.
  3. The Board of Auditors shall meet at least once every three months and shall pass resolutions by an absolute majority of its members. Minutes shall be kept of the meetings of the Board of Auditors, containing a brief report on the decisions taken, with opposing views, if requested by those who expressed them. The minutes, signed by all those present, are subsequently transcribed in the special book of meetings and resolutions of this Body, kept at the Association’s headquarters.
  4. Art. 2399 of the Civil Code applies to the members of the Control Board. They may not hold other offices within the association, must be independent and exercise their functions objectively and impartially.
  5. In the event that, due to resignation or other causes, one or more members of the Control Board fall from office before the end of their term, the General Assembly shall replace them by means of a new election.

CHAPTER V
RESPONSIBILITY

ARTICLE 27
RESPONSIBILITIES OF ASSOCIATION BODIES

  1. The Association is only liable for obligations contracted by the Association with its own assets.
  2. The representatives of the Association’s organs shall be liable towards the Association, the Members and third parties in accordance with the provisions on liability in joint-stock companies in Articles 2392 to 2396 of the Civil Code, insofar as they are compatible.

TITLE IV
ASSETS, ECONOMIC RESOURCES AND BUDGETS

ARTICLE 28
ASSETS

  1. The Association’s assets are indivisible and consist of:
  1. the minimum assets necessary for the achievement of legal personality according to the regulations in force, which constitutes the indisposable and binding patrimonial guarantee fund to guarantee third parties that establish relations with the Association;
  2. any movable and immovable property, owned by the same or that may be acquired and/or acquired by bequests and donations;
  3. the economic resources listed in Article 29 below;
  4. any reserve funds established with budget surpluses.
  1. The Association’s assets shall be used exclusively to carry out its statutory activities for the pursuit of its institutional purposes.
  2. Any distribution, whether direct or indirect, of profits, operating surpluses, funds and reserves, however denominated, to Members, employees and collaborators, Board Members and other members of the corporate bodies is forbidden, even in the case of withdrawal or any other hypothesis of individual dissolution of the association’s relationship.

ARTICLE 29
ECONOMIC RESOURCES

  1. he Association derives the economic resources for its functioning and the performance of its activities from:
  1. membership fees;
  2. public and private contributions;
  3. donations and testamentary legacies;
  4. income from assets;
  5. fundraising activities;
  6. reimbursements deriving from agreements with public administrations;
  7. income from activities of general interest and from other activities pursuant to Article 6 of the Third Sector Code;
  8. any other income allowed by the Third Sector Code and other applicable regulations.
  1. For activities in the general interest, the Association may only receive reimbursement of expenses actually incurred and documented, unless such activities are carried out as secondary and instrumental activities within the meaning of Article 6 of the Third Sector Code.

ARTICLE 30
FINANCIAL YEAR AND BUDGETS

  1. The financial year of the Association begins on 1 January and ends on 31 December of each year.
  2. Within this period, the General Assembly shall approve the provisional economic budget (“budget estimate”) for the following financial year and by 30 April of each year the annual budget (“balance sheet”) for the year just ended. If special needs so require, the approval of these documents may be extended by a further sixty days or taken together.
  3. The budget represents the planning of economic management for the following financial year, providing information on the resources that are expected to be acquired and used (estimated income and expenses); it is a planning act aimed at ensuring the sustainability of the projects and activities that are to be implemented in the following financial year.
  4. The balance sheet contains the results of the accounts, kept in accordance with the regulations in force, and is structured in such a way as to provide a clear representation of the economic, financial and patrimonial situation of the Association.
  5. The reports accompanying the budgets must, among other things, illustrate the provisions and investments with particular regard to maintaining the substantial economic integrity of the assets of the association. The organs of the Association, within the scope of their respective competences, may enter into commitments and assume obligations within the limits of the appropriations of the approved budget.
  6. Expenditure commitments and obligations directly contracted by the legal representative of the Association or by the persons delegated by him that exceed the limits of the approved appropriations must be approved in advance by the Executive Board and, if present, by the Control Board.
  7. Any surpluses from the annual management must be used to cover any previous management losses before being used for the enhancement of the association’s activities or for the purchase of goods instrumental to the increase or improvement of its activities.

TITLE V
DISSOLUTION AND LIQUIDATION

ARTICLE 31
DISSOLUTION 

  1. The dissolution of the Association is decided by the General Assembly in extraordinary session, with the favourable vote of at least two thirds of the Ordinary Members.

ARTICLE 32
LIQUIDATION AND DESTINATION OF RESIDUAL ASSETS

  1. The General Assembly that decides on the dissolution of the Association also decides on the liquidation and destination of the remaining assets.
  2. Once the dissolution of the association has been resolved upon, the Executive Board liquidates the Association by disposing of the Association’s assets, paying its debts, collecting its claims and determining the extent of any residual assets.
  3. The residual assets after liquidation shall be devolved, subject to the approval of the competent authorities and unless otherwise required by law, to an association, foundation or other body of a scientific or cultural promotion nature with aims similar to those of the Association, identified by the Board of Directors pursuant to Article 9 of the Third Sector Code.