Governance

Bylaws of the Numismatic Research Trust 

Approved in September 2017

Article I: Name, Purpose and Office

• Section 1. Name: The name of this organization shall be the Numismatic Research Trust (hereinafter referred to as the "NRT" or "Trust").

• Section 2. Purpose: The Trust is a non-profit organization dedicated to the acquisition, preservation, and exhibition of numismatic materials. The Trust aims to promote public education and appreciation of numismatics through research, exhibitions, and publications.

• Section 3. Office: The Trust shall maintain in the state of Madhya Pradesh a principal office. The address of the registered office may change from time to time by the Board of Trustees

Article II: Board of Trustees

• Section 1. General Powers: The Board of Trustees (hereinafter referred to as the "Board") shall manage the affairs of the Trust.

• Section 3. Election of Trustees: Trustees shall be elected by a majority vote of the existing Board members at the annual meeting.

• Section 3. Vacancies: Any vacancy occurring on the Board may be filled by a majority vote of the remaining Trustees. A Trustee elected to fill a vacancy shall serve for the unexpired term of their predecessor.

• Section 4. Meetings: The Board shall hold regular meetings at least quarterly. Special meetings may be called by the Chairperson or by a majority of the Trustees. Notice of meetings shall be given to all Trustees at least ten (10) days in advance.

• Section 5. Quorum: A majority of the Trustees shall constitute a quorum for the transaction of business at any meeting of the Board.

• Section 6. Compensation: Trustees shall not receive any compensation for their services but may be reimbursed for reasonable expenses incurred in the performance of their duties.

Article III: Officers

• Section 1. Officers: The officers of the Trust shall be a Chairperson, a Vice-Chairperson, a Secretary, and a Treasurer. The Board may elect or appoint other officers as deemed necessary.

• Section 2. Election and Term of Office: Officers shall be elected by the Board at the annual meeting. Officers shall serve for a term of one (1) year and may be re-elected for consecutive terms.

• Section 3. Removal: Any officer may be removed by a majority vote of the Board whenever, in its judgment, the best interests of the Trust would be served.

• Section 4. Vacancies: A vacancy in any office may be filled by the Board for the unexpired portion of the term.

• Section 5. Duties:

  • Chairperson: The Chairperson shall preside at all meetings of the Board and shall perform other duties as assigned by the Board.

  • Vice-Chairperson: The Vice-Chairperson shall perform the duties of the Chairperson in their absence and other duties as assigned by the Board.

  • Secretary: The Secretary shall keep minutes of the meetings, maintain records, and perform other duties as assigned by the Board.

  • Treasurer: The Treasurer shall oversee the financial affairs of the Trust, including the preparation of financial reports and budgets, and perform other duties as assigned by the Board.

Article IV: Committees

• Section 1. Committees of the Board: The Board may establish committees as deemed necessary to carry out the work of the Trust. Each committee shall have a chairperson appointed by the Board.

• Section 2. Executive Committee: The Executive Committee shall consist of the officers of the Trust and shall have the authority to act on behalf of the Board between meetings, subject to ratification by the Board.

• Section 3. Other Committees: Other committees may be established by the Board as needed. The members of each committee shall be appointed by the Board.

Article V: Fiscal Matters

• Section 1. Fiscal Year: The fiscal year of the Trust shall begin on April1 and end on March 31.

• Section 2. Financial Records: The Trust shall maintain accurate financial records and shall prepare an annual financial report.

• Section 3. Audits: The financial records of the Trust shall be audited annually by an independent auditor.

Numismatic Research Trust Policy Statement

The Numismatic Research Trust ("NRT" or the "Trust") is committed to upholding the highest ethical standards in the acquisition, preservation, and exhibition of numismatic materials. As a non-profit institution dedicated to public service, the Trust recognizes its responsibility to act with integrity and transparency in all its operations.

1. Compliance with Laws and Regulations: The Trust shall not knowingly or willfully acquire, purchase, or exhibit numismatic materials in violation of any applicable state, foreign, or federal law or regulation. The Trust is committed to adhering to all legal requirements and maintaining compliance with relevant laws and regulations.

2. Ethical Standards: The Trust has adopted a code of ethics that guides its activities and decisions. All Trustees, the Executive Director, professional staff, employees, and volunteers are expected to adhere to these ethical standards in furtherance of the Trust's mission.

3. Provenance Research: The Trust shall conduct thorough provenance research on all numismatic materials in its collection. The acquisition of stolen, illegally imported, or illegally exported materials is strictly prohibited. The Trust shall periodically review its collections to identify items with incomplete or uncertain provenance and allocate adequate funding for provenance research.

4. Training and Certification: The Trust shall provide annual training to its Trustees, the Executive Director, professional staff, employees, and volunteers on the Policy, Compliance Procedures, and any new and current applicable laws. Written copies of the Policy and Compliance Procedures shall be distributed, and individuals shall certify in writing that they have received and reviewed the documents. Annual certification of adherence to the Policy and Compliance Procedures is required.

5. Reporting and Investigations: The Trust is committed to preventing and detecting any wrongdoing. Any suspicions of wrongdoing, including the acquisition, purchase, possession, or transfer of stolen, illegally imported, or illegally exported numismatic materials, shall be reported to the Executive Director or the Board of Trustees. The Trust shall conduct impartial and thorough investigations of all allegations, overseen by the Board of Trustees or a designated subcommittee. If necessary, external investigators may be employed.

6. Restitution and Reporting: If wrongdoing is substantiated, the Trust shall pursue appropriate actions, including restitution when warranted. The Trust shall voluntarily report any wrongdoing to the proper enforcement authorities and may submit related materials if it is in the best interests of the Trust.

7. Commitment to Public Service: The Trust is dedicated to serving the public by maintaining the highest ethical standards and ensuring the integrity of its numismatic collections. The Trust's mission is to preserve and share numismatic materials for educational and cultural enrichment.

Ratified by the NRT Board of Trustees in Sept 2017

Numismatic Research Trust Compliance Procedures

The Numismatic Research Trust ("NRT" or the "Trust") shall not knowingly or willfully acquire, purchase, or exhibit numismatic materials in violation of any applicable state, foreign, or federal law or regulation. The Trust acknowledges its responsibilities as a non-profit institution dedicated to public service and is committed to maintaining the highest ethical standards. The Trust has adopted a code of ethics and complies with all applicable laws and regulations. The acquisition of stolen, illegally imported, or illegally exported numismatic materials is contrary to the mission and purpose of the NRT. The Trust shall periodically review its collections for any numismatic materials with incomplete or uncertain provenance and shall make serious efforts to allocate adequate funding for provenance research on such items.

The Trust requires its Trustees, the Executive Director, professional staff, employees, and volunteers to adhere to the principles set forth in the Policy Statement (the "Policy") in furtherance of the Trust's mission. The Trust shall distribute written copies of the Policy and Compliance Procedures to Trustees, the Executive Director, professional staff, employees, and volunteers, who shall certify in writing that they have received and reviewed the documents. They shall also annually certify in writing that they will adhere to the Policy and Compliance Procedures and acknowledge that failure to comply may result in disciplinary action, including possible termination from the NRT. The Trust shall provide annual training to its Trustees, the Executive Director, professional staff, employees, and volunteers on the Policy, Compliance Procedures, and any new and current applicable laws, and shall obtain a signed, written acknowledgment from each individual that such training occurred.

The Trust is committed to discouraging, preventing, and detecting any wrongdoing. Any Trustee, professional staff member, employee, or volunteer shall report any suspicions of wrongdoing, including but not limited to the acquisition, purchase, possession, or transfer of stolen, illegally imported, or illegally exported numismatic materials, to the Executive Director or the Board of Trustees. The Trust shall take such claims seriously and shall vigorously investigate and research the alleged wrongdoing. Investigations shall be conducted by impartial, responsible actors and shall not involve any individual implicated in the alleged wrongful acts. If the allegations warrant further action, the Board of Trustees may employ external investigators. The Board of Trustees or a designated subcommittee shall oversee such investigations. If the claim is substantiated, the Trust shall pursue an appropriate course of action consistent with the mission and best interests of the Trust, including restitution when warranted. Any wrongdoing reflects negatively on the NRT, its mission, and its reputation. In the absence of mitigating circumstances, the Trust shall voluntarily report such wrongdoing to the proper enforcement authorities and may submit any related materials to the authorities if it is in the best interests of the Trust.