Constitution

The purposes of the SRS are to stimulate, encourage, sponsor, advance and guide the study and collection of fiscal or revenue stamps and related materials, both government and private issues, of the states, possessions, districts, territories, and other entities of the United States and their subdivisions from an educational, informational and historical standpoint; to establish and support study and research groups devoted to the various aspects and interests of such material; to use its facilities to make available news and information concerning such material to all who may be interested; to prepare, publish and distribute literature of a philatelic nature and periodicals dealing with such material; to serve and speak for its membership in public matters; and to perform each and every act necessary, desirable or incident to the carrying out of said purposes.

The SRS shall operate as a non-profit organization. No part of the net earnings of the organization shall inure to the benefit of or be distributable to its members, trustees, officers or other private persons, except that the SRS shall be authorized and empowered to pay reasonable compensation for services rendered or expenses incurred in its behalf and to make payments and distributions and awards in furtherance of the purposes set forth in Article II. No substantial part of the activities of the SRS shall be the carrying on of propaganda or otherwise attempting to influence legislation, and the SRS shall not participate in, or intervene (including the publishing or distribution of statements) in any political campaign on behalf of any candidate for public office. Notwithstanding any other provisions of this Constitution, the SRS shall not carry on any other activities not permitted to be carried on (a) by an organization exempt from Federal income tax under Section 501(c)(3) of the Internal Revenue Code of the United States (or the corresponding provision of any future United States Internal Revenue law) or (b) by an organization, contributions to which are deductible under Section 170(c)(2) of the Internal Revenue Code of the United States (or the corresponding provision of any future United States Internal Revenue law).

The SRS shall operate in accordance with this Constitution as adopted by the members and with Bylaws adopted by the Board of Governors.

The Board of Governors shall adopt Bylaws to govern the operations of the SRS. The conditions for membership, membership dues, and the rights or other privileges of members shall be determined and fixed by the Bylaws.

The officers of the SRS shall be elected by the members and shall consist of a president, vice-president, secretary and treasurer. The duties of the officers shall be specified in the Bylaws.

The Board of Governors shall consist of the officers, the immediate past president, the editor of the SRS journal, the SRS catalog editor, the SRS web editor, the SRS sales manager, and three governors elected by the members. The duties of the editor of the SRS journal, the SRS catalog editor, the SRS web editor, the SRS sales manager and the governors shall be specified in the Bylaws.

Elections of officers and governors shall be held every three years, not later than the fourth quarter of the year prior to the expiration of the officer’s terms. The terms of the persons serving as officers or governors on the date of adoption of this Constitution shall expire on January 14, 2012. Terms shall begin on January 15 of the year following the year in which the officers and governors are elected.

The SRS shall publish a journal periodically at intervals established by the Board of Governors. The editor of the journal shall be appointed by and serve at the pleasure of the Board of Governors.

Elections and votes on all matters by the members shall be determined by a majority of all votes cast by members unless otherwise specified herein or in the Bylaws. Decisions of the Board of Governors shall be determined by a majority of the members of the Board of Governors unless otherwise specified herein or in the Bylaws.

Amendments to this Constitution may be made from time to time when approved by the Board of Governors and ratified by a two-thirds majority vote of the members who vote on the amendment. The Bylaws shall prescribe a procedure for a reasonable number of members to formally petition to require a proposed amendment to be submitted to a vote of the members, who may approve the amendment by a two thirds majority vote of those members who vote on the amendment.

Upon the dissolution of the SRS, the Board of Governors shall, after paying or making provisions for the payment of all liabilities, dispose of all assets exclusively for the purposes of the organization in such a manner, or to such charitable, educational, religious, literary, or scientific organization as shall at the time qualify as an exempt organization under Section 501(c)(3) of the Internal Revenue Code of the United States (or the corresponding provision of any future United States Internal Revenue Law), as the Board of Governors shall determine. The Board of Governors shall select such an organization whose purposes most closely match those of the SRS.