Certificate of Incorporation
and Bylaws
Of the American Economic
Association in effect on
December 31, 2002
We, the undersigned,
citizens of the United States, and of the District of
Columbia, desiring to associate ourselves as a corporation for
purposes
authorized by Section 599 of
the Code of said District, hereby certify:
First: The name of title by which the society shall be known
in law, is THE AMERICAN ECONOMIC
ASSOCIATION.
Second: The time for which it is organized is perpetual.
Third: The particular business and objects of the
society are
as follows:
1.
The encouragement of economic research, especially the
historical and statistical study of the
actual conditions of
industrial life.
2.The issue of publications
on economic subjects.
3.The encouragement of
perfect freedom of economic discussion.
The Association as such
will take no partisan attitude, nor will
it commit its members to any position on practical economic
questions.
Fourth: The number of its trustees
for the first year of its existence shall be
fourteen.
IN WITNESS WHEREOF we have
made and signed the foregoing certificate this
3rd day of
February, 1923.
Edward
A. Harriman
Percy
W. Bidwell
Lewis
C. Gray
Francis
Walker
The above certificate was
duly
witnessed
before John P.
Cage,
Notary Public.
____________________________________________________________________________________________________________
Section 1. Any person interested in economic inquiry may, on the nomination of a
member, be enrolled in the Association.
Section 2. There shall be six classes of members other than honorary: regular
members with annual incomes of $30,000 or less paying the base
fee defined below;
regular members
with annual incomes above $30,000 but not more than
$40,000 paying one and one-fifth times the base fee; regular members with
annual incomes above $40,000 paying one and two-fifth times the base fee;
family members (persons living at the same address as a regular member,
additional memberships without subscription to the publications of the
Association) paying one-fifth of the base fee; junior members (available to
registered students only) paying one-half the base fee; and life members
comprising those who qualified for life membership by making a single payment
of the designated amount prior to January 1, 1976, and exempt from annual
fees.
Effective January 1, 1976, the base fee is $25.00 per year. The Executive Committee may increase the base fee in proportion to the increase occurring after January 1, 1976 in relevant price and wage indexes. It may increase the income brackets for regular members but may not decrease them below the figures specified in this bylaw.
Section 3. Foreign economists of distinction may be elected honorary members of
the Association. The Executive
Committee is authorized to determine the number of foreigners to be elected
honorary members. Past presidents of
the Association shall be Distinguished Fellows. Additional Distinguished Fellows may be elected, but not more
than three in any one calendar year from economists of high distinction in the
United States and Canada. Candidates
for Distinguished Fellowships shall be nominated by the Nominating Committee or
the Executive Committee and they shall be elected by the combined vote of the
two committees. The Nominating
Committee shall solicit and give due consideration to the recommendations of
the Committee on Honors and Awards. The
Nominating Committee is free to make no nominations in any particular
year. However, it is not limited as to
the number of candidates it may nominate in any year. Election to Distinguished Fellowship does not preclude election
to any office of the Association.
Section 4. Unless they have elected the option to decline one journal or are
family members, every member is entitled to receive as they appear, the
following publications of the Association:
the American Economic Review, the Journal of Economic Literature,
and the Journal of Economic Perspectives.
The Board of Trustees
shall be composed of the voting members of the Executive Committee.
Section 1. The Association shall have the following officers
who shall be elective officers: a
President, a President-elect, two Vice-Presidents, and six elected members of
the Executive Committee. The terms of the office of the two Vice-Presidents
shall each be one year, and the terms of office of the six elected members of
the Executive Committee shall each be three years, two of the six terms to
expire each year. The President-elect
elected in any year shall succeed to the presidency in the following year.
Section 2. The Association shall have the following officers
who shall be appointed by the Executive Committee: a Secretary, a Treasurer,
the Editors of its scholarly journals, and a Counsel. The terms of office of each of these officers shall be three
years.
Section 3. For elective and for appointed officers, each
regular term of office shall begin on the last day of the next annual meeting
succeeding the election of officers by the membership; provided, however, that
in the event the next annual meeting has not been held by February 1 of the
next succeeding year, such term shall commence as of such date. It shall end on the earlier of (a) the last
day of the annual meeting determined by the length of that term as specified in
Section 1 and 2 or (b) February 1 of such year.
Section 4. The Executive Committee shall consist of the
President, President-elect, two Vice-Presidents, the Secretary, the Treasurer,
the Editors, the two ex-Presidents who have last held office, and six elected
members, provided the Secretary, the Treasurer, and the Editors shall not be
entitled to vote in the Executive Committee’s meetings.
Section 1. The President of the
Association shall preside at all meetings of the Association and of the
Executive Committee. In case of his
disability, his duties shall devolve upon the President-elect and then the two
Vice Presidents in the order of their election, upon the Secretary, and upon
the Treasurer.
Section 2. Before October 1 of each
year, the President-elect of the Association shall appoint a Nominating
Committee for the following year, this Committee to consist of a past officer
as Chairman and not less than five other members of the Association. In addition to appointees chosen by the
President-elect, the Committee shall include any other member of the
Association nominated by petition including signatures and addresses of not
less than two percent of the members of the Association, delivered to the
Secretary before December 1. No member
of the Association may validly petition for more than one nominee for the
Committee.
The names of the Committee
shall be announced to the membership immediately following its appointment
and the membership invited to suggest nominees for the various offices to
the Committee. The Nominating Committee for each year shall be instructed
to present to the Executive Committee on or before April 30 at least two names
of members to be considered as nominee for President-elect and two or more
nominations for each other elective office to be filled, except the presidency,
all these nominees being members of the Association. The members of the Nominating
and Executive Committees shall constitute an Electoral College which shall
consider the names of members presented to the Executive Committee for nomination
as President-elect and select a single candidate for that office. In voting
in the Electoral College each member shall have one vote provided that the
number of members of the Nominating Committee present does not exceed the
number of members of the Executive Committee present; otherwise, the members
of the Nominating Committee present shall have fractional votes such that
their sum equals the number of members of the Executive Committee present.
The Secretary shall announce the actions of
the Nominating Committee and the Electoral College to members of the
Association not later than June 1. An
additional nomination for any office may be made by petition, delivered to the
Secretary by August 1, including signatures and addresses of not less than six
percent of the membership of the Association for the office of President-elect
and four percent for each of the other offices. No member of the Association
may validly petition for more than one nominee for the Executive Committee, one
nominee for Vice-President, and one nominee for President-elect.
The election of officers by
the membership shall take place by a ballot conducted by the Secretary each
year. The ballot shall list all nominees alphabetically with indication
“nominated by petition” where applicable. Space shall be provided on the ballot
for the individual voter’s alternative choice for all offices. The Secretary shall distribute the ballots
to all members as soon as practicable after August 1 and set a deadline for
receipt of ballots in the Secretary’s office no earlier than October 1 and no
later than November 1. The candidates with the highest number of votes for the
various offices will be elected. The
results of the election shall be certified and announced by the Secretary at
the annual business meeting or in the American Economic Review.
Section 3. The President-elect shall be
responsible for the program for the annual meeting of the year in which he
serves. He may at his discretion
appoint a Program Committee to assist him.
Section 4. The Secretary shall keep the
records of the Association and perform such other duties as the Executive
Committee may assign him.
Section 5. The Treasurer shall receive
and have custody of the funds of the Association, subject to the rules of the
Executive Committee.
Section 6. The Executive Committee
shall have the control and management of the funds of the corporation. It may fill vacancies in the list of
officers, and may adopt any rules or regulations for the conduct of business
not inconsistent with the constitution or with rules adopted at the annual
meetings. It shall act as a committee
on time and place of meetings and perform such other duties as the Association
shall delegate to it. A quorum shall
consist of five voting members.
Section 7. The Editors shall, with the
advice and consent of the Executive Committee, appoint co-editors, associate
editors, assistant editors, and members of Editorial Boards to assist
them.
Section 8. The office of the corporation for legal purposes shall be at the office of the Counsel, and legal process against the corporation may be served on said counsel.
Section 1. The annual meeting of this corporation shall be held
at such time and place as may be determined by the Executive Committee. Notice of such time and place (of the annual
meeting) shall be given to members at least three months prior to such meeting.
A quorum shall consist of one hundred voting members.
Section 2. A resolution adopted at an annual meeting
in which fewer than one thousand members of the Association have voted thereon
shall be submitted to a vote by the full membership no later than the ballot
for officers if a majority of the Executive Committee determines that, because
of the nature or consequences of the resolution, all members should have the
opportunity to participate in the final decision. Upon such a determination by the Executive Committee, the
resolution shall cease to be effective and shall not become effective unless
and until approved by a majority of ballots cast. Ballots shall be accompanied by (1) a brief statement by the
sponsor or sponsors in support of the resolution, (2) a brief statement of the
views of the Executive Committee and, if the Committee favors or takes no
position on the resolution, (3) a brief statement by a person or persons whom
the Committee designates to represent opposing views.
Amendments, after having been approved by a majority of the
Executive Committee, may be adopted by a majority of votes cast in a ballot.