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		<title>Memorandum of Understanding</title>
		<link>http://artistruncreditleague.wordpress.com/2009/05/08/memorandum-of-understanding/</link>
		<comments>http://artistruncreditleague.wordpress.com/2009/05/08/memorandum-of-understanding/#comments</comments>
		<pubDate>Fri, 08 May 2009 06:40:30 +0000</pubDate>
		<dc:creator>artistsruncreditleague</dc:creator>
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		<description><![CDATA[/// General Agreement // Monthly Contribution Each participating space will pay $20/month into the ARCL Fund for the duration of the credit-cycle. // Credit-Cycle &#38; Individual credit Both the credit-cycle and amount of individual credit will be determined by the total number of ARCL members. For example: If there are 8 members, then the cycle [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=artistruncreditleague.wordpress.com&amp;blog=7667073&amp;post=28&amp;subd=artistruncreditleague&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>/// General Agreement</p>
<p><span style="text-decoration:underline;">// Monthly Contribution</span></p>
<p>Each participating space will pay $20/month into the ARCL Fund for the duration of the credit-cycle.</p>
<p><span style="text-decoration:underline;">// Credit-Cycle &amp; Individual credit</span></p>
<p>Both the credit-cycle and amount of individual credit will be determined by the total number of ARCL members.  For example: If there are 8 members, then the cycle will last 8 months, and each group will have $160 of credit.</p>
<p><span style="text-decoration:underline;">// Rotating Payout</span></p>
<p>Each month of the credit-cycle, one ARCL member will be paid the full amount of their individual credit.  The monthly schedule of disbursements will be established by a random draw at the commencement of each credit-cycle. Groups may switch months if both are in mutual agreement.</p>
<p><span style="text-decoration:underline;">// Fundraisers</span></p>
<p>Each ARCL member agrees to hold one fundraising event per credit-cycle.  Events must attempt to raise at least $200.</p>
<p><span style="text-decoration:underline;">//  Donations to the ARCL</span></p>
<p>Any donations made to the ARCL by non-members may be considered tax deductible.</p>
<p><span style="text-decoration:underline;">// Bonuses</span></p>
<p>Every three months and/or at the conclusion of the credit-cycle, the total funds garnered by ARCL fundraisers as well as from any additional donations will be divided equally and distributed to each ARCL member in the form of a bonus check.</p>
<p><span style="text-decoration:underline;">// Exiting &amp; Joining the ARCL</span></p>
<p>A two month hiatus will follow the conclusion of each credit-cycle.  During this time any current ARCL members may exit the league and new members may join.</p>
<p><span style="text-decoration:underline;">// Modification of the Memorandum of Understanding</span></p>
<p>A meeting to consider modifying the MOU will be initiated if requested by 2 or more ARCL members.  Any modifications must be unanimously decided by all current ARCL members.</p>
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