The solution to all our problems (a complete change in LXA)

[GammaZeta]

Hidden agendas, cronyism, financial interests, power plays, missing documents, ineptitude, bankruptcy, cooked books...

Let's face it, this LCAP problem is starting to shape up into Lambda Chi Alpha's own little "Enron". This is on top of the financial problems we had in the late 90's early 00's.

This is a quick, simple fix that will allow our membership to have true control over their fraternity while providing safegaurds against many of the problems I mentioned earlier in this post.

Lambda Chi Alpha will now be turned into the Lambda Chi Alpha Corporation. (Yes, I realize we are incorporated already, but this is a much more efficient model)

Here is what I propose:

Lambda Chi Alpha will now be a (real) corporation.

Each living member will have exactly 1 (one) share of the LXA Corp. When that member dies, that share reverts back into the corporation.

Each year, a vote of all the shareholders will be taken to elect a 13 member board of directors (new High Alpha).

That board of directors will be responsible for appoint the CEO, CFO, and other officers.

Those officers will be responsible for the daily operations of the fraternity.

On a semi-annual basis, the corporation will make available to each shareholder a complete financial accounting of the last six months; travel expenses, salaries, office expenses, donations, insurance, membership dues, EVERYTHING.

Every year, we will have our annual shareholders meeting (GC).

With this setup, the fraternity and it's officers will be responsbile, both LEGALLY and as a fraternity to it's shareholders (living membership), and not vice-versa.

This gives each shareholder a voice and a vote in the fraternity/corporation.

This also imposes legal restrictions on the fraternity and most importantly, it's financial accounting.

This is the basic outline of what it would be like. The details of a true corporation are much too cumbersome to post right now as an initial post.

Something needs to be done. I did say this keeps happening and that it also happens to other fraternities. WELL LET'S FIX IT! Why do we have to use the same structure and model as all other fraternities.

It's time to give each brother a REAL piece and owership of this organization.

When will we stop allowing ourselves to be screwed over by the very people that are supposed to have our interests at heart?