✍️Global Statutes:

These are the bylaws, adopted by each legal body constituted in Open Constitution global co-operatives network and registered in accordance with a region's local Business laws.

A few notes before we start:

Bylaws of the Open Constitution ensure that network AI stays compliant with different local jurisdictions on planet Earth.

Who adopts them?

These bylaws are written to be adopted by each legally organised voluntary association or a cooperative, "Fiscal Host" in each identifiable jurisdiction where the Open Bank program operates.

Each Fiscal Host adopts these bylaws either as a whole or an Addendum to their existing Articles of Association for the following purposes:

Purpose: The primary objective for the adoption of these bylaws is for:

Constitution of Fiscal Hosts:

Empanelment of the legal body - Fiscal Host takes place by the Independent Board of the Foundation, based on the counsel of the Advisory Committee. The appointment of a Fiscal Host can be subsequently ratified by any of the pre-constituted Independent Boards of any of the existing "Fiscal Hosts" of the Foundation.

2. Appointment of Fiscal Host's Independent Board:

Independent Board represents the Foundation through Legal bodies in the local jurisdiction and attempts to ensure the Foundation's compliance with these local business and constitutional laws, including the maintenance of functions of a Fiscal Host.

3. Association of Citizens as laid down by the doctrines of the Open Constitution.

4. Appointment of Officers of the Open Constitution in compliance with Local law.

5. Appointment of Data Protection Officers of the Open Constitution.

Read Glossary here.

How to read Articles?

Wherever possible, Articles have hints mentioned (just like this box), where additional descriptions are provided.

Terms and headings used have meanings derived from the Glossary.