Rules of the LUT Entrepreneurship Society
These rules have been approved and entered into force at the association's spring meeting on 06.05.2024.
1. Name and domicile of the association
The name of the association is LUT Entrepreneurship Society ry, the name can be
unofficially abbreviated as LUTES, it is based in Lappeenranta and its official language is
Finnish.
2. Purpose and forms of activity
The purpose of the association is to act as a unifier and a support network for entrepreneurs,
entrepreneurial members and students, to promote an entrepreneurial culture and to act as a
cooperation body for its members. The association acts as a starting point, a meeting place
and a creator of contacts.
To achieve its purpose, the association organizes meetings, training, events, social
evenings, study trips, as well as discussional, informational and seminar events.
In order to support its activities, the association may accept donations and wills and own
movable and immovable property necessary for its activities. In addition, the association may
organize fundraisers, lotteries, entertainment events and other similar events after obtaining
appropriate permission.
The working languages of the association are Finnish and English.
3. Members
Anyone who accepts the purpose and the rules of the association and meets the
membership criteria can join the association.
The association may have full members, alumni members and supporting members.
Degree students from LUT University and LAB University of Applied Sciences can be full
members.
Alumni members can be anyone who has studied and graduated from LUT University or LAB
University of Applied Sciences and who as a full member was in a position of responsibility
in the association. An alumni member is not entitled to vote.
Anyone who wants to support the purpose and activities of the association can be accepted
as a supporting member. A supporting member can be an individual, company, association
or other legal entity. The supporting member is not entitled to vote.
Members are approved on application by the board of the association. A member must
attend a meeting of the association at least once a year or correspondingly demonstrate
their activity in other ways. Other activity will be assessed by the board.
4. Resignation and removal of a member
A member has the right to resign from the association by notifying the board or its
chairperson in writing or by notifying the resignation to be entered in the minutes at the
meeting of the association.
The board may dismiss a member from the association if the member has failed to pay their
due membership fee or otherwise failed to fulfill the obligations to which they have
committed by joining the association or has significantly harmed the association or no longer
fulfills the membership conditions mentioned in the rules of the association or the law.
The membership of a full member ends when the person graduates from the university or
the university of applied sciences. A full member is automatically transferred as an alumni
member by a decision of the board if the criteria for alumni membership are met. A member
may resign from the association by notifying the board in writing.
At the member's own request, the full member may be transformed into an alumni or
supporting member if the person meets the membership criteria.
5. Registration and membership fee
The amount of the registration membership fee and the annual membership fee charged
from full, alumni and supporting members is decided by the autumn meeting. Membership
fees for full members, alumni and supporting members may vary.
6. The board
The affairs of the association are managed by the board, which consists of the chairperson
elected at the autumn meeting and three to seven (3-7) members, all of whom are full
members of the association.
The board elects a vice-chairperson, a secretary and a treasurer from among its members,
and agrees on its internal division of responsibilities.
The board appoints other necessary officials or committees.
The term of office of the chairperson and the member of the board is one (1) calendar year.
The term of office of the official is one (1) calendar year, unless otherwise decided at the
board meeting when the official is elected.
The board is elected by the following list procedure:
the autumn meeting decides on the size of the next year's board within the frame of
the rules
the chairperson of the board will be elected by an absolute majority of votes
hearing the proposal of the elected chairperson on the composition of the board and
any counter-proposals of the meeting, in which the board must be fully presented
in the event of counter-proposals, the composition of the board will be chosen from
the submitted lists by an absolute majority of votes
The board meets at the invitation of the chairperson or, in their absence, the
vice-chairperson, but at least once every three months or when at least half of the members
of the board so request.
A quorum is reached if at least two-thirds (2/3) of its members are present, including the
chairperson or vice-chairperson; and lawful if all members have been notified of the meeting
as agreed at the inaugural meeting of the board. Votings will be resolved by a simple
majority of votes. In the event of a tie, the chairperson will have the casting vote, but in an
election however, the vote is decided by lot.
7. Signing for the association
The name of the association is signed by the chairperson, vice-chairperson and treasurer of
the board, each alone.
8. Accounting period and financial auditing
The accounting period of the association is a calendar year, which is also the term of office
of the financial auditors.
The financial statement with the necessary documents and the annual report of the board
must be submitted to the auditors no later than one month before the spring meeting. The
auditors must give their written statement to the board no later than two weeks before the
spring meeting.
9. Meetings of the association
The association holds two regular meetings a year.
The spring meeting of the association is held in January-May and the autumn meeting in
September-December on a date determined by the board.
An extra meeting is held when the meeting of the association so decides or when the board
calls it necessary or when at least one tenth (1/10) of the voting members of the association
so request in writing from the board specifically for a notified matter. The meeting will be held
within thirty days of the request to the board.
Of the members of the association, only the full members have the right to vote at the
meetings of the association and are available for positions of responsibility in the
association. Supporting and alumni members have the right to speak and attend meetings,
but not the right to vote, and may not act in positions of responsibility of the association. At
the meetings of the association, each full member has one vote.
The decision of the meeting must be the proposal supported by more than half of the votes
cast, unless otherwise provided in the rules. In the event of a tie, the chairperson will have
the casting vote, but in an election however, the vote is decided by lot.
Meetings of the association may also be held remotely by telecommunications, if the board
convening the meeting so decides.
10. Convening the meetings of the association
The board will convene the meetings of the association at least seven (7) days before the
meeting by using the official information channel of the association. The invitation to the
meeting must state the time and the place of the meeting.
11. Regular meetings
The spring meeting of the association will address the following issues:
opening of the first meeting
electing a chairperson, a secretary, two auditors of the minutes and, if necessary, two
tellers
establishing the legality and the quorum of the meeting
accepting the procedure of the meeting
presenting the financial statement, the annual report and the statement of the
auditor/auditors
deciding on the approval of the financial statement and the freedom of responsibility
of the board and other accountable persons
dealing with other matters mentioned in the invitation of the meeting
The autumn meeting of the association will address the following issues:
opening of the first meeting
electing a chairperson, a secretary, two auditors of the minutes and, if necessary, two
tellers
establishing the legality and the quorum of the meeting
accepting the procedure of the meeting
approving the action plan, estimate of revenue and expenditure and the amount of
the registration and the membership fee for the following calendar year
electing the chairperson of the board and the other members of the board
electing one or two operations inspectors and deputy inspectors or one or two
financial auditors and deputy auditors
dealing with other matters mentioned in the invitation of the meeting
If a member of the association wishes to have a matter discussed at the spring or the
autumn meeting of the association, they must notify the board in writing at least two (2)
weeks before the meeting so that the matter can be included in the meeting invitation.
12. Changing the rules and dissolution of the association
The decision to change the rules and the dissolution of the association must be made at a
meeting of the association by at least three-quarters (3/4) majority of the votes. The
invitation to the meeting must mention the changing of the rules or the dissolution of the
association.
Upon the dissolution of the association, the funds of the association will be used to further
the purpose of the association in the manner determined by the meeting deciding on the
dissolution. When the association is terminated, its assets will be used for the same
purpose.
13. Guidelines
Guidelines in addition to these rules can give more detailed regulations on matters
considered important for the operation of the association. The guidelines and the changes to
them must be approved at a meeting of the association by at least two-thirds (2/3) majority of
the votes. The guidelines enter into force as soon as they are approved at the association's
meeting.
14. Other remarks
Otherwise, the regulations of the current Association Act are followed within the activities of
the association.
Rules of the LUT Entrepreneurship Society
These rules have been approved and entered into force at the association's spring meeting on 06.05.2024.
1. Name and domicile of the association
The name of the association is LUT Entrepreneurship Society ry, the name can be
unofficially abbreviated as LUTES, it is based in Lappeenranta and its official language is
Finnish.
2. Purpose and forms of activity
The purpose of the association is to act as a unifier and a support network for entrepreneurs,
entrepreneurial members and students, to promote an entrepreneurial culture and to act as a
cooperation body for its members. The association acts as a starting point, a meeting place
and a creator of contacts.
To achieve its purpose, the association organizes meetings, training, events, social
evenings, study trips, as well as discussional, informational and seminar events.
In order to support its activities, the association may accept donations and wills and own
movable and immovable property necessary for its activities. In addition, the association may
organize fundraisers, lotteries, entertainment events and other similar events after obtaining
appropriate permission.
The working languages of the association are Finnish and English.
3. Members
Anyone who accepts the purpose and the rules of the association and meets the
membership criteria can join the association.
The association may have full members, alumni members and supporting members.
Degree students from LUT University and LAB University of Applied Sciences can be full
members.
Alumni members can be anyone who has studied and graduated from LUT University or LAB
University of Applied Sciences and who as a full member was in a position of responsibility
in the association. An alumni member is not entitled to vote.
Anyone who wants to support the purpose and activities of the association can be accepted
as a supporting member. A supporting member can be an individual, company, association
or other legal entity. The supporting member is not entitled to vote.
Members are approved on application by the board of the association. A member must
attend a meeting of the association at least once a year or correspondingly demonstrate
their activity in other ways. Other activity will be assessed by the board.
4. Resignation and removal of a member
A member has the right to resign from the association by notifying the board or its
chairperson in writing or by notifying the resignation to be entered in the minutes at the
meeting of the association.
The board may dismiss a member from the association if the member has failed to pay their
due membership fee or otherwise failed to fulfill the obligations to which they have
committed by joining the association or has significantly harmed the association or no longer
fulfills the membership conditions mentioned in the rules of the association or the law.
The membership of a full member ends when the person graduates from the university or
the university of applied sciences. A full member is automatically transferred as an alumni
member by a decision of the board if the criteria for alumni membership are met. A member
may resign from the association by notifying the board in writing.
At the member's own request, the full member may be transformed into an alumni or
supporting member if the person meets the membership criteria.
5. Registration and membership fee
The amount of the registration membership fee and the annual membership fee charged
from full, alumni and supporting members is decided by the autumn meeting. Membership
fees for full members, alumni and supporting members may vary.
6. The board
The affairs of the association are managed by the board, which consists of the chairperson
elected at the autumn meeting and three to seven (3-7) members, all of whom are full
members of the association.
The board elects a vice-chairperson, a secretary and a treasurer from among its members,
and agrees on its internal division of responsibilities.
The board appoints other necessary officials or committees.
The term of office of the chairperson and the member of the board is one (1) calendar year.
The term of office of the official is one (1) calendar year, unless otherwise decided at the
board meeting when the official is elected.
The board is elected by the following list procedure:
the autumn meeting decides on the size of the next year's board within the frame of
the rules
the chairperson of the board will be elected by an absolute majority of votes
hearing the proposal of the elected chairperson on the composition of the board and
any counter-proposals of the meeting, in which the board must be fully presented
in the event of counter-proposals, the composition of the board will be chosen from
the submitted lists by an absolute majority of votes
The board meets at the invitation of the chairperson or, in their absence, the
vice-chairperson, but at least once every three months or when at least half of the members
of the board so request.
A quorum is reached if at least two-thirds (2/3) of its members are present, including the
chairperson or vice-chairperson; and lawful if all members have been notified of the meeting
as agreed at the inaugural meeting of the board. Votings will be resolved by a simple
majority of votes. In the event of a tie, the chairperson will have the casting vote, but in an
election however, the vote is decided by lot.
7. Signing for the association
The name of the association is signed by the chairperson, vice-chairperson and treasurer of
the board, each alone.
8. Accounting period and financial auditing
The accounting period of the association is a calendar year, which is also the term of office
of the financial auditors.
The financial statement with the necessary documents and the annual report of the board
must be submitted to the auditors no later than one month before the spring meeting. The
auditors must give their written statement to the board no later than two weeks before the
spring meeting.
9. Meetings of the association
The association holds two regular meetings a year.
The spring meeting of the association is held in January-May and the autumn meeting in
September-December on a date determined by the board.
An extra meeting is held when the meeting of the association so decides or when the board
calls it necessary or when at least one tenth (1/10) of the voting members of the association
so request in writing from the board specifically for a notified matter. The meeting will be held
within thirty days of the request to the board.
Of the members of the association, only the full members have the right to vote at the
meetings of the association and are available for positions of responsibility in the
association. Supporting and alumni members have the right to speak and attend meetings,
but not the right to vote, and may not act in positions of responsibility of the association. At
the meetings of the association, each full member has one vote.
The decision of the meeting must be the proposal supported by more than half of the votes
cast, unless otherwise provided in the rules. In the event of a tie, the chairperson will have
the casting vote, but in an election however, the vote is decided by lot.
Meetings of the association may also be held remotely by telecommunications, if the board
convening the meeting so decides.
10. Convening the meetings of the association
The board will convene the meetings of the association at least seven (7) days before the
meeting by using the official information channel of the association. The invitation to the
meeting must state the time and the place of the meeting.
11. Regular meetings
The spring meeting of the association will address the following issues:
opening of the first meeting
electing a chairperson, a secretary, two auditors of the minutes and, if necessary, two
tellers
establishing the legality and the quorum of the meeting
accepting the procedure of the meeting
presenting the financial statement, the annual report and the statement of the
auditor/auditors
deciding on the approval of the financial statement and the freedom of responsibility
of the board and other accountable persons
dealing with other matters mentioned in the invitation of the meeting
The autumn meeting of the association will address the following issues:
opening of the first meeting
electing a chairperson, a secretary, two auditors of the minutes and, if necessary, two
tellers
establishing the legality and the quorum of the meeting
accepting the procedure of the meeting
approving the action plan, estimate of revenue and expenditure and the amount of
the registration and the membership fee for the following calendar year
electing the chairperson of the board and the other members of the board
electing one or two operations inspectors and deputy inspectors or one or two
financial auditors and deputy auditors
dealing with other matters mentioned in the invitation of the meeting
If a member of the association wishes to have a matter discussed at the spring or the
autumn meeting of the association, they must notify the board in writing at least two (2)
weeks before the meeting so that the matter can be included in the meeting invitation.
12. Changing the rules and dissolution of the association
The decision to change the rules and the dissolution of the association must be made at a
meeting of the association by at least three-quarters (3/4) majority of the votes. The
invitation to the meeting must mention the changing of the rules or the dissolution of the
association.
Upon the dissolution of the association, the funds of the association will be used to further
the purpose of the association in the manner determined by the meeting deciding on the
dissolution. When the association is terminated, its assets will be used for the same
purpose.
13. Guidelines
Guidelines in addition to these rules can give more detailed regulations on matters
considered important for the operation of the association. The guidelines and the changes to
them must be approved at a meeting of the association by at least two-thirds (2/3) majority of
the votes. The guidelines enter into force as soon as they are approved at the association's
meeting.
14. Other remarks
Otherwise, the regulations of the current Association Act are followed within the activities of
the association.