Statutes for Stiftelsen Music Rights Awareness Foundation
§ 1 The name of the Foundation
The name of the Foundation shall be Stiftelsen Music Rights Awareness Foundation.
§ 2 The purpose of the Foundation
The purpose of the Foundation is to create awareness and increase knowledge around the world about music rights, and thereto related issues.
The Foundation shall carry out its purpose by educating, collaborate with and inspire music creators and others within and around the music industry, about music rights and thereto related issues. The Foundation shall also support global and local initiatives which enable more individuals and music collaborations around the world to make a living on their music creations. The Board of Directors shall determine in what proportions the Foundation specific objectives will be met.
The Foundation may engage in business activities either directly or through subsidiaries, in order to promote the purpose of the Foundation or to support the Foundation ~ activities in other ways. The Foundation may also promote out its above stated objectives through financial support to another organization.
§ 3 Independence
The Foundation is religiously and politically independent and shall not engage in any private self-interest. The Foundation ‘is independence is fundamental and essential for its credibility with regard to its purpose without any personal profit interest.
§ 4 Management
The Foundation is managed by a board of directors, consisting of at least 2 and at most 8 members. Deputy members may be appointed.
The Board of Directors appoints and dismisses the members and the deputy members. The Board of Directors elects one of its members as chairman.
§ 5 Notice of the Board meeting
The chairman shall ensure that Board meetings are held when needed. The Board shall be convened if member of the Board so requests.
§ 6 Resolutions
The Board of Directors is quorate where more than one-half of the total number of board members is present. Resolutions of the Board shall be adopted by a simple majority of the members present or, in the event of a tied vote, by the chairman’s casting vote.
§ 7 Minutes
Minutes shall be taken at meetings of the Board of Directors. The minutes shall be signed by the keeper of the minutes. They shall be attested by the chairman, in the event the chairman did not take the minutes. The chairman refers to the chairman of the Board of Directors or, if the chairman of the Board of Directors has not been present at the meeting, the member that has presided at the meeting. Members of the Board of Directors are entitled to have dissenting opinions recorded in the minutes. The minutes shall be maintained in numerical order and stored in a satisfactory manner.
§ 8 Fees
The Board of Directors may decide that fees be paid to members of the Board in a reasonable amount.
§ 9 Signatory
The Board of Directors or the person or persons authorized by the Board of Directors rep resents the Foundation and has the authority to sign for the Foundation.
§ 10 The assets of the Foundation
The Board of Directors shall, in its management of the assets, ensure that they are invested in a sustainable manner.
The Foundation shall conduct its activities with the original foundation capita! and funds obtained through gifts, grants or otherwise. These funds, together with the return on them shall, after emerging administrative expenses have been covered and reasonable share has been consolidated, be used for the Foundations purposes.
§ 11 Domicile
The Board of Directors has its domicile in Örebro municipality.
§ 12 Financial year
The Foundation’s financial year shall be calendar year.
§ 13 Annual report and audit report
For each financial year, an annual report shall be rendered, including income statement, balance sheet and management report. The annual report shall be submitted to the Foundation’s auditor not later than four months after the financial year end.
When the auditor has issued report on its review and submitted it to the Board of Directors, the Board of Directors shall submit a copy of the annual report and the auditor’s report to the registration authority no later than six months after the financial year end.
§ 14 Audit
The management of the Foundation and its accounts shall annually be audited by an authorized public accountant.
§ 15 Supervision
The Foundation shall be supervised in accordance with the Foundation Act.
§ 16 Amendments to the statutes
The Board of Directors may without authorization from authority amend, revoke or set aside the provisions of these statutes, except as regards to the purpose of the Foundation or the provisions of this section.
Amendment, revocation or setting aside the provisions of the Foundation ~ statutes requires unanimity on two consecutive board meetings with at least one month apart. At the resolutions, all ordinary members of the Board shall be attending.