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Bylaws

Bylaws of the National Association of Internet Service Providers in Romania adopted on December 4, 2000, modified by the General Assembly of the members of 11.07.2003, 29.04.2004, 18.04.2013, 10.04.2014 and 12.06.2017.

Art.1 The National Association of Internet Service Providers in Romania (abbreviated ANISP), hereinafter referred to as “the Association”, is established in accordance with the provisions of OG no. 26/2000, as subsequently amended and supplemented and of this Bylaws. The association is a non-governmental, non-profit, apolitical and independent legal entity, able to carry out economic and lucrative activities, including through the establishment of companies in which it has the status of associate or shareholder.

Art. 11 The list of members of the Association is presented in the Annex to this Bylaws and is currently kept in the Members’ Register of the Association, maintained at the headquarters, being updated by the CEO.

Art.2 The headquarters of the National Association of Internet Service Providers in Romania according to the Rental Agreement No. 1 / 17.11.2000 is in Bucharest, United Nations 1 no.1, bl. 108A, et.1, location C1, sector 5.

Headquarters can be changed based on the decision of the Board of Directors.

Art.3 The term of operation is undefined (unlimited), starting the date of enrollment in the Register of Associations and Foundations.

Art.4 The name of the Association is the National Association of Internet Service Providers in Romania (evidence regarding the availability of the name no.2182 of 08.11.2000).

The association will be able to use, as appropriate, both the full name and the acronym “ANISP”.

Art.5 The association is organized and operates on the basis of this Bylaws and the legal regulations in force.

The association is open to all those interested in activities that are related to the purpose of the association.

Art.6 The social patrimony of the Association consists of a patrimonial asset, initially worth 24,000 lei, cash contribution. The entire heritage will be highlighted and kept in accordance with the Romanian legislation in the field and will be used exclusively for the achievement of the objectives of the Association.

CHAPTER II – The Purpose and Objectives of the Association

Art.7 The main purpose of the Association is to represent, identify, promote, support, protect and defend the economic, professional, technical and legal interests of the members of the Association – providers of electronic communications networks and services, including online services – in relation with national or international public authorities and institutions, as well as in relation with any other natural and / or legal persons, whether private or public, nationally and / or internationally.

The Association will support bodies and institutions legally empowered to promote an adequate and coherent legislative framework in aligning it with EU standards in developing and implementing strategies for the sustainable development of electronic communications networks and services, including online services.

Art.8 The objectives proposed by the Association for achieving the main purpose are as follows:

a) collaborate with the legal bodies authorized to law making and promote an adequate and coherent legislative framework in the field of electronic communications networks and services, including online services [Internet], and align them with EU standards;

b) promoting and supporting, observing the law, the transfer of knowledge, information, experiences and technologies relating to the field of electronic communications networks and services, including online services;

c) establishing a common strategy, in line with the existing legal framework, in negotiating with operators and providers of electronic communications networks and services, including on-line services, including with operators designated as having significant market power;

(d) promoting reliable solutions for integrating the results of scientific research in the field of electronic communications networks and services, including online services, stimulating creativity and innovation in the field of electronic communications networks and services, including online services and information technology;

e) supporting the members of the Association in the development of joint projects (e.g. obtaining the right to manage and assign domains and classes of Internet addresses in Romania, according to the law);

f) establish dialogue relations with state authorities as well as with other national or international legal or institutional bodies or entities for the development and implementation of legislation and regulations in the field of electronic communications networks and services, including online services;

g) developing and promoting a self-regulatory framework for setting up ethical rules and good practice behaviors designed to increase user trust in service quality in the field of electronic communications networks and services, including online services delivered;

h) collaboration with the competent institutions in developing and implementing strategies for the sustainable development of electronic communications networks and services, including online services;

i) the interconnection of electronic communications networks;

j) promotion of the public-private partnership in order to ensure the continuous development of the services in the field of electronic communications in order to satisfy the users’ requirements;

k) designing, implementing and managing, in accordance with the existing legal framework, services of interest to members of the Association and users of electronic communications services, including accessing European funds or programs;

l) promoting and implementing alternative dispute resolution systems in the fields of electronic communications networks and services, including on-line (Internet) and information society services, without these being made for profit;

m) representing, protecting and defending the economic, professional, technical and legal interests of the members of the Association, irrespective of the contentious or non-contentious nature of the action.

Art. 9 Activities and means of action for achieving the purpose and objectives are:

a) design, construction and operation of a network for the interconnection of the electronic communications networks;

b) promoting the projects for financing and administering the national interconnection network made through the efforts of the members, in compliance with the legal provisions;

c) supporting the activities of promoting the image of the interconnection network;

d) participation in national and international actions (seminars, workshops, congresses, scientific research activities, publishing of periodical scientific publications, etc.) in the field of electronic communications networks and services, including Internet services or technology information, including for the purpose of representing the Romanian industry;

e) affiliation to other similar national and / or international bodies;

f) advertising the results of the Association’s research and actions through all means of the media, publishing, printing and disseminating books, magazines, reports, monographs, recommendations, studies and other types of publications and works of art;

g) training, maintenance and operation of a center for documentation, information and dissemination of information and products that are related to the purpose of the Association;

h) establishing and granting – possibly in collaboration with other organizations – prizes, scholarships and incentives for special achievements, related to the purpose of the Association;

i) promoting and supporting the development of a modern communication system between the members of the Association, for their benefit, for the dissemination and dissemination of information and knowledge regarding their areas of interest;

j) promoting and supporting the development of a modern communication system with users of electronic communications networks and services, including online services (Internet), for their training and information, and dissemination and dissemination of information and knowledge through different channels of dialogue discussions, etc.;

k) elaboration of studies and researches specific to the domain of interest of the Association;

l) development of projects of general interest both for members of the Association and for users of electronic communications networks and services, including Internet services, and their completion by attracting funds from outside the Association, including European funds;

m) organizing within the Association of conciliation, mediation and arbitration services in the fields of interest of the Association, without these being realized for the purpose of obtaining profit;

n) developing action programs and undertaking all legal and statutory steps to ensure the representation, protection and defense of the interests of its members;

o) acting amicably or in court to counteract any harm to the rights or interests of its members and their professional activities;

p) organizing and carrying out of training and professional training of adults according to CAEN 8559, in the field of electrotechnics, automation, electronics, telecommunications, informatics / information technology. To this end, actions will be taken to authorize the training programs related to the field, actions to organize training programs for the actual support of the professional training programs related to the field, as well as the evaluation and certification of the competences obtained by the participants;

q) organizing and conducting training and education for children and youth in the field of electronic communications services and online activities, training / programming / development applications and hardware and software solutions for the online environment and the electronic communications industry , good practices and legislation on the protection of intellectual property rights in the online and electronic communications industry, cybercrime, cyber security, protection of the rights of the minor, protection of the right to privacy and the privacy in the online environment and the electronic communications industry, the protection of personal data in the online environment and the electronic communications industry, as well as the evaluation and certification of competences obtained by the participants.

Art.10 The Association may have subsidiaries or branches in the country or abroad on the basis of the legislation in force and this Bylaws.

CHAPTER III – Members of the Association. How to acquire and lose membership. Rights and obligations

Art.11 Within the Association are the following categories of members from the country and abroad:

1. Honorary members: Significant personalities of scientific, technical, cultural life, etc., in all fields of activity, expressing their support and solidarity with the purpose and objectives of the Association and consented to give the Association the prestige of their name.

Members of honor are proposed by the Board of Directors or by the General Assembly.

Honorary Members are exempt from the payment of the fee and do not have the right to vote in the General Assembly.

2. Members: legal entities operating in the field of electronic communications networks and services, including Internet services, recognize the status of the Association, pay the contributions established by the Board of Directors, actively contribute to the activities initiated by the Association and operate according to the laws in force.

3. Affiliated members: legal entities that support the Association in achieving its purpose.

Affiliated members can participate in the Association’s activities.

Affiliated members do not have the right to vote in the General Assembly.

Art.12 The registration of the members is made on the basis of a registration application addressed to the President of the Association. The admission of new members is approved by the Board of Directors and validated by the General Assembly. Members pay a monthly fee established by the Board of Directors.

Upon entry into the Association, a new member shall assume the Bylaws and the previously elaborated acts and contribute to the Association’s patrimony with the equivalent of the registration fee set by the Board of Directors.

The records of the members of the National Association of Internet Service Providers in Romania are kept in the Members’ Register of the Association, located at the headquarters and constantly updated by the CEO.

Art.121 The membership of the Association can only be transmitted under justified conditions and with the express consent of the Board of Directors in this respect.

Art.122 Representation of the members of the Association

(1) The members of the Association shall be represented in the General Assemblies or its governing bodies by a natural person appointed by the governing bodies of the legal entity member of the Association.

(2) The representative appointed by the legal entity member of the Association shall take part in the meetings of the General Assemblies and of the other governing bodies of the Association and shall vote with full powers on behalf of the legal person they represent.

(3) The representative of a legal person who is a member of the Association, elected in the governing bodies of the Association and who, during the exercise of his office, loses his capacity as a representative of that legal person, shall be deprived of the right to occupy the position of the legal person within the Association. The same sanction applies to the representative of the legal person who loses his membership of the Association. The provisions of this paragraph are not opposed to the President of the Association.

(4) In order to fill the vacancy, the Association’s member company shall appoint a new representative.

(5) The vacancy in the Board of Directors as a result of the loss of membership of a legal person shall be exercised by election at the next General Meeting.

Art.13 The rights of members of the association.

a) to participate in the Association’s activities;

b) to benefit without discrimination from the results of the Association’s activities;

c) to choose the bodies of the association, directly or through representation, and to be part of them;

d) be informed and free to express their views on any issue concerning the association;

e) to address requests, proposals or complaints at any level of the association and to receive an answer;

f) to collaborate with the publications of the association;

g) to receive discounts or free of charge on the publications and works elaborated by the Association and to benefit, at preferential tariffs, from the other services offered by the Association;

h) to use the material basis of the association for the purpose for which it was created;

i) to use the means of documentation and information of the association, to benefit from the conditions created by it for raising the level of knowledge and competences in the field of electronic communications (including the Internet);

j) to be able to enter in their documents the “member of ANISP”;

k) to be able to renounce membership at any time;

l) be able to request a change of membership;

m) members of the Association who have not been elected in the Board of Directors may attend the meetings of the Board without the right to vote.

Art.14 The members of the association have the following obligations:

a) to comply with the Association’s Statute and internal regulations;

b) to actively contribute to the implementation of the actions proposed and organized by the association, in order to achieve its purpose and objectives;

c) to pay in due time the contribution established by the Association’s Board of Directors and the other monetary contributions;

d) not to engage the association in any activity without having a mandate in this respect;

e) to abide by the decisions taken within the Association;

f) to make available to the Association its personal data in an updated form, whenever changes occur;

g) to support the interests and activities of the Association and to do nothing to affect its purpose and prestige;

h) in the event of a conflict between members in connection with the membership of the Association, they are obliged to try to solve the dispute amicably, and then may appeal to the mediation of the Association’s President, before appealing to the media, at the intervention of the authorities with jurisdiction, or at the courts.

Art. 15 Suspension of Membership

Membership of the Association may be suspended in the following cases:

a) if the member of the Association has not paid the Monthly Fee established by the Board of Directors for three consecutive months;

b) if the Association member has a misconduct towards the Association, until the case has been settled;

c) other situations in which the interests of the Association or its representativeness are affected.

Suspension of membership of the Association is decided by the Board of Directors and causes the suspended member to lose all rights and facilities granted by membership in the Association for a period not exceeding 6 months.

The Board of Directors will revoke the suspension of membership if the reasons that led to the decision have disappeared.

Art. 16 Loss of membership occurs in the following situations:

1. by withdrawal upon request, which is at any time at the discretion of any member, and is made by a written statement addressed to the President of the Association and brought to the notice of the Board of Directors;

2. by dissolution of the legal entity member of the Association;

3. by the merger / absorption of two member companies, in which case the absorbed legal entity loses its membership of the Association;

4. by exclusion by the Board of Directors in the following situations:

i. producing moral or material prejudice to the Association through its own activity;

ii. hiring the legal person in actions that are contrary to the purpose of the Association or are contrary to law and order of law;

iii. serious or repeated violation of the Association Statute or its regulations;

iv. after a suspension period, whether the reasons for suspension have persisted.

The decision of the Board of Directors shall be validated by the General Assembly.

CHAPTER IV – Organization of Management and Control of the Association

Art.17 The Association may, by decision of the General Assembly or the Board, as the case may be, establish the following types of structural units that are related to its purpose and objectives:

– subsidiaries or branches, in the country or abroad, with the same Statute as the association (observing the provisions and procedures of the legislation in force);

– councils, committees and committees organized by fields, issues and activities;

– pilot units, centers of excellence, specialization and professional training;

– laboratories, study centers, expertise and consultancy;

– own service units: publishing house, printing, library, laboratories, information service centers, information and documentation center, etc.

Art.18 The Association’s Bodies are as follows:

1. General Assembly of Members of the Association;

2. The Board of Directors;

3. The President;

4. Censors Board.

Art.19 The decisions of the bodies of the Association taken in accordance with the provisions of the Bylaws are binding for all its members and for all the structural units of the Association.

Art.20 The General Assembly is the collective governing body of the Association.

The General Assembly consists of all categories of members of the association, each represented by an individual. The representation mandate shall be given in writing for the meeting attended by the representative or for a limited time interval.

The capacity of a representative shall cease to exist on the date on which the legal entity member of the Association loses this quality.

The General Assembly meets at the convening of the President of the Association in ordinary session once a year or in extraordinary meetings, whenever necessary, based on a written and reasoned request of the Board of Directors or at least 30% of the total number of members of the Association.

The convocation of the General Assembly shall be made at least 5 working days prior to the fixed date, on the basis of a convocation, transmitted, with acknowledgment of receipt, on the usual ways of communication of the Association, which shall include the place, the date, the agenda. The convocation shall be accompanied, as appropriate and as far as possible, by the materials to be submitted to the analysis and approval of the General Assembly of the Association.

The General Meeting is legally convened if at least 1/2 of the total number of voting members is represented by representatives appointed by them. In case of quorum failure, at the second convocation within 14 days, the General Assembly shall be considered as the statutory meeting with the presence of at least 1/3 of the total members of the Association, and at the third convocation within 7 days from the second convocation is valid regardless of the number of participants.

Decisions are taken with the simple majority of the members present. The method of voting is determined on a case-by-case basis by the General Assembly.

Art.21 The General Assembly of the Association has the following attributions:

a) approves the Bylaws of the Association;

b) approves the organization and functioning regulations of the Association;

c) elects and revokes the members of the Board of Directors, as well as the President;

d) approves the annual revenue and expenditure budget and the annual balance sheet;

e) approves the value ceiling of documents that may be concluded by the President only with the prior approval of the Board of Directors

f) approves the organizational structure of the Association;

g) discharges the duties of the Board of Directors;

h) establishes the general strategy and objectives of the Association;

i) elects and revokes the members of the Censor Commission and determines their indemnity;

j) decide on the establishment of companies or the participation in the share capital of other companies. The dividends received from these participations will be used to fulfill the purpose of the Association.

k) decides the dissolution and liquidation of the Association, determining by the same decision the destination of the remaining assets after the liquidation, observing the law and the present statute;

l) performs any other duties provided by law or by statute.

m) approves the Association Members’ Register.

Art.211 The decisions taken by the General Assembly, within the limits of the law, of the constitutive act and of the Bylaws, are mandatory even for the associates who, through their representatives, did not take part in the General Assembly or voted against.

Art.212 (1) The sessions of the General Assembly of the Association are led by the President of the Association or, in its absence, by one of the Vice-Presidents.

(2) For elaborating the summary of the session, the General Assembly shall elect a secretariat consisting of two persons.

(3) Where appropriate, the General Assembly shall also elect ad hoc working bodies.

(4) At the end, the summary of the meeting shall be signed by the meeting leadership and by the secretariat.

Art.22 The Board of Directors is the administrative body of the Association, enforcing the decisions of the General Assembly.

The Board of Directors consists of 11 members, including one president and three vice-presidents. The members of the Board of Directors are elected by the General Assembly of the Associates, on the basis of the candidature submitted or by a proposal made by another member and accepted by the candidate, by qualification in descending order of votes, based on the Election Regulation approved by the General Assembly.

The term of office of the Board of Directors is for a period of 2 years.

The President of the Association is also the Chairman of the Board of Directors.

The Board of Directors meets in ordinary session once a month and in extraordinary sessions at the request of the President or 1/3 of its members.

Meetings of the Board of Directors shall be held in the presence of at least six of the members of the Board.

The Board of Directors takes decisions by simple majority of the members present, by open vote.

Applying the decisions of the Board of Directors and carrying out the current activities of the Association are ensured by the CEO.

The members of the Board of Directors may mandate a delegate to replace them in meetings they can not present.

Article 23 The Board of Directors shall have the following duties:

a) elects and revokes the Vice-Presidents of the Board of Directors;

b) ensures and follows the application of the provisions of the Statute, of the internal regulations of the Association, as well as of the decisions of the General Assembly;

c) analyzes the problems related to the current activities of the Association, adopts decisions and takes appropriate measures in accordance with the Statute of the Association;

d) proposes for approval to the General Assembly the annual activity plan, the annual revenue and expenditure budget and the annual balance sheet;

e) Approves the budget of revenues and expenditures for current budget years;

f) designates persons entitled to sign in the bank;

g) proposes the organization and functioning regulation of the Association, aims to apply it in compliance with the provisions of the Statute;

h) analyzes and approves the amendments or additions to the Statute of the Association, which it submits for approval to the General Assembly;

i) approves the admission of new members to the Association;

j) grant the honorary membership of the Association;

k) decide on the functioning and organization of the structural entities of the Association, as well as on the relations between them and the Association;

l) approves the mandates for the delegates of the Association participating in internal and international meetings;

m) designates the Chief Executive Officer (CEO) of the Association and empowers him / her to execute his / her actions according to the internal regulations of the Association and other documents of the Association;

n) approves the change of headquarters;

o) orders the suspension of the membership and/or exclusion from the Association;

p) approves the transmission of membership of the Association;

q) approves the affiliation of the Association to other associative structures.

r) approves the patrimonial employment and representation of the Association by the President

Art.231 The mandate in the Board of Directors ceases in the following situations:

a) the fulfillment of the term related to the mandate, or its revocation by the legal person;

b) the loss of the membership of the Association by the legal person. This provision does not apply to the President of the Association, who is also the Chairman of the Board of Directors;

c) the loss of the membership of the Association of the legal person whose representative is, except for the President;

d) if 3 consecutive absences from the meetings of the Council or 5 absences within the same calendar year are registered.

Art.232 The President of the Association

(1) The President of the Association shall be elected from voting members either on the basis of the submitted candidatures or on the basis of proposals made by members of the Association within the General Assembly of Elections.

(2) Candidates for the position of President and the program proposed by the candidate, together with the nomination of the legal representative of the candidate for the position of President, may be submitted not later than two working days before the General Assembly of elections to the secretariat of the Association.

(3) The president of the Association shall be elected by secret ballot, with the simple majority of the votes correctly cast by voting members present at the General Assembly of Elections.

(4) The President of the Association is also automatically the Chairman of the Board of Directors.

(5) The term of office of the President is two years, the same member being eligible for an unlimited number of mandates.

6. The Chairperson may delegate to a Vice-President the prerogatives of his / her duties for a period not exceeding 6 months.

(7) In the case of the vacancy of the position of President for a period of less than 6 consecutive months, the Board of Directors shall mandate one of the Vice-Presidents to perform the position of President as interim.

(8) In the case of a vacancy for more than 6 consecutive months, the Extraordinary General Assembly shall be convened for the election of a new President. The Assembly shall be convened at the request of at least 50% of the members of the Board of Directors, or at least 30% of the voting members of the Association.

Art.24 The President of the Association has the following attributions:

a) lead the proceedings of the General Assembly and chair the Board of Directors;

b) controls the activity of the Executive Director;

c) employs the Association in its relations with third parties;

(d) may delegate its responsibilities to one of the Vice-Presidents;

e) represents the Association in the relations with the government bodies and with the other organizations from the country and from abroad, engages the Association legally in relations with third parties;

f) has a decisive vote in case of equal vote at the meetings of the Board of Directors.

Art.25 The Vice-Presidents are three, elected by the members of the Board of Directors, with a simple majority of votes.

The Vice-Presidents fulfill the tasks assigned to them by the Board of Directors. If the position of President can not be exercised by the authorized representative appointed by the legal entity elected by the General Assembly, the Vice-Presidents shall appoint one of them to ensure for a determined period not exceeding 6 months the performance of this function.

Art.26 The Chief Executive Officer (CEO)

(1) The CEO shall ensure the conduct of the current activities of the Association and perform its tasks in the operating regulations and other documents of the Association.

(2) The CEO shall propose to the Board of Directors for approval the program of current activities, including those with economic content and the organizational chart of the Association.

(3) The duties of the CEO are the following:

a) ensure the organization of the Association meetings, including the General Assemblies;

b) participates without the right to vote at the meetings of the Board of Directors, to whom he regularly presents activity reports;

c) ensure the employment, respectively the dismissal of the Association’s staff, in accordance with the law and with the approval of the Board of Directors; determines the remuneration of the staff employed within the budget approved by the Board of Directors;

d) coordinates the staff of the Association, which is in its subordination;

e) in the exercise of his / her duties he / she may appeal to third party services, natural and legal persons, within the limits approved by the Board of Directors;

f) signs the current financial and accounting documents of the Association within the limits of the current budget established by the Board of Directors;

g) represents the Association in current relations with third parties.

Art.27 The Censor Commission is the Association’s internal financial control body.

It is made up of one to three people, one of whom is President.

It is elected by the General Assembly for a period of two years.

It meets whenever it is needed and performs controls at any level within the Association whenever it deems necessary.

The Censor Commission has the following attributions:

a) Verifies the legality of the financial-accounting operations, the legality of the sources of income, the transparency of the operations and the financial statements;

b) elaborates unique rules for verification of management of the Association, valid for all branches, branches and units created by the Association;

c) draw up reports and submit them to the General Assembly;

d) It fulfills any other duties provided for in the present Statute or expressly set forth by the General Assembly.

Members of the Commission may participate, without voting right, in the meetings of the Board of Directors.

In case the number of members is not more than 100, the duties of the censors committee are fulfilled by a single censor.

CHAPTER V – The Patrimony of the Association

Art.28 The Association’s initial patrimony is 24,000 lei and consists of cash deposited by founding associations. It may be increased by donations, contributions, sponsorships and other sources of income under this Statute and by law. The patrimony of the Association is made up of material goods and sums of money, as well as from their obligations.

Members of the Association who lose their membership have no right to claim any part of their heritage or income nor to claim claims on membership fees, contributions or other possible monetary or material contributions made by the Association.

Art.29 The Association’s revenues come from:

a) the monthly subscriptions of members, the amount of which is set by the Board of Directors;

b) interest and dividends resulting from the placement of the available amounts, according to the law;

c) the dividends of the commercial companies set up by the Association or in which they participate, if any;

d) income from direct economic activities, after payment of all mandatory legal contributions;

e) registration fees for new members;

f) income from the activity of the Association, through its members, based on a convention or contract, which are related to the purpose of the Association;

g) the subscriptions, the sale and dissemination of the publications of the Association and other works carried out by the members of the Association,

h) donations, subsidies, sponsorships, deposits, etc., in lei or in foreign currency, performed by private or legal persons, public or private, secular and religious, from the country and from abroad;

i) resources obtained from the state budget and / or local budgets;

j) loans, loans, investments in movable and immovable property, bank deposits, property rights and any other sources of income that do not contradict the Bylaws and the legislation in force;

k) other income allowed by law.

Art.30 The financial year of the Association corresponds to the calendar year.

The first financial year starts from the date of registration of the Association in the Register of Associations and Foundations.

Art.31 The level of Contribution and other monetary contributions shall be determined by the Board of Directors.

Art. 32 The donations, subsidies, contributions, wages and other transfers in cash or in kind does not create additional rights to their authors.

Art.33 The amounts of money, movable and immovable property, as well as other values ​​deposited on the account of the Association or taken over by it shall be considered as means of increasing the patrimony of the Association and belong to its patrimony.

Art.34 The functions and positions of the Association bodies are not remunerated, except for the staff employed, the CEO and the censors.

CHAPTER VI – Final Provisions

Art.35 The association has a bank account, its own stamps, badges and badges.

Art.36 Subsidiaries, branches and other structural units may have an account with the bank and their own stamp under the conditions established by the organizational and operational regulations.

Art.37 During the period between the General Assemblies of the Association, the interpretation of the Articles of the Statute shall be made by the Board of Directors, who shall make known in writing the necessary explanations.

Art.38 The legal personality of the Association ceases in the following situations:

– in cases expressly provided by law;

– when the number of associates fell below 7 members.

Art.39 The liquidation of the Association’s patrimony shall be made by the Commission appointed by the General Assembly, according to the mandatory legal norms, the asset being destined for the liquidation of the credits, and the surplus will be passed to other legal entities of public or private law whose main purpose is the promotion and support of the Internet industry in Romania, persons established by the General Assembly through the dissolution decision.

Art.40 The nominal composition of the first Board of Directors and of the first Commission of Auditors is established by the Articles of Incorporation of the Association.

Art.41 This Bylaws was adopted by the Constituent Assembly of the Members of the Association, meeting in Bucharest on the 8th of November, 2000

Art. 42 The provisions of this Bylaws shall be supplemented by the provisions of the law.

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