Bylaws

I, Domo

 

1.             Definitions

a.             "Group" refers to "I, Domo", formed as a general partnership effective November 10th, 2005, and more fully described in the Partnership Agreement.

b.             "Partner" shall refer to any General Partner of "I, Domo". All Officers are required to be Partners.

c.             "Member" shall refer to any person, partner, or customer whose assets are managed by the Group.

d.             "Advisor" shall refer to the Primary Partner, _________________________ .

 

2.             Investment Guidelines

a.                    The Group's assets shall be invested solely in stocks of individual companies, mutual funds, and/or index funds. While waiting to invest, the Group may, but is not required to, keep cash in a money-market fund with the Group's broker.

b.                   Dividends shall be divided according to each member's stake in the capital account, and it is the sole decision of that member to decide whether or not to reinvest the dividends, or to have the dividends paid out in the form of a check to them.

i.              The minimum amount required to request a dividend check is $25.

ii.             It is the responsibility of the Treasurer to fulfill requests in a timely manner.

c.                    At the Advisor's discretion, there is no minimum or maximum limit for the amount of stock that can be owned in any sector at any time, for any amount of cash.

d.                   At the Advisor's discretion, there is no minimum or maximum limit for the number of companies that compose the portfolio. That is, should the Advisor choose to invest all of the assets into one company, it is allowable under these provisions. However, the Advisor is required by these bylaws to make his investment strategies and objectives clear to the Members.

e.                    Unless deemed otherwise by the Advisor, the Group will not invest in amounts of less than $1,000 at a time.

f.                     At the discretion of the Advisor, with a 50% majority approval of the Partners, the Group may purchase stock on margin. No more than 30% of the portfolio may consist of stock purchased on margin. Decisions to purchase on margin are made on a case by case basis. All Partners are required to understand the risks and implications with purchasing on margin, before purchasing on margin.

 

3.             Officers

a.             The Group's officers shall consist of an Advisor (President), Vice President, Treasurer and Secretary.

i.              Note that each position does not necessarily need to be embodied by one person; that is, one person may take on more than one position as necessary.

b.             The duties of the officers shall include, but not be limited to the following:

 

i.              Also known as the Advisor, the President may appoint committees, oversee all Group activities, and preside over Group meetings (if any). The President shall have the power to create and conduct an agenda for all meetings, and may enforce or waive formalities of such an agenda. The President shall have the power to recommend that the Partnership take disciplinary action on any Partner who, in the opinion of a Partner of the Group, is considered to have acted contrary to the provisions of these Bylaws or displayed negligence in the performance of duties or expectations. The President has ultimate authority over all purchase and selling decisions.

ii.             The Vice President, if any, has all the powers of the President should the President be unavailable to fulfill his duties. Otherwise, it is the responsibility of the Vice President to maintain order in meetings, and act as the primary representative of the Group.

iii.            The Treasurer shall keep record of all Group financial activities. The Treasurer shall calculate and distribute valuation statements each financial period, and shall be responsible for filing the Group's tax return and for providing each member with their required individual income tax information. The Treasurer shall be responsible for maintaining the Group's brokerage and bank accounts, and shall serve as agent for the Partnerhsip with such entities. The Treasurer shall collect dues if/as necessary, process withdrawals, and notify the Secretary of any discrepancies.

iv.            The Secretary shall keep a record of Group business, and shall issue minutes of each meeting. The Secretary shall be responsible for all correspondence pertaining to the Group, including the distribution of reports from meetings, Officers, and committees. Upon notification by the President or Treasurer, the Secretary will issue notice to any Partner regarding any disciplinary action, and will include the reason and authority for such action.

 

c.             Assignment of positions shall be made at the full discretion of the Advisor, should he or she feel that there is a need to fill a position. New positions may be created as necessary at the discretion of the Advisor as well.

d.             Once assigned, Officers will hold their position indefinitely at the approval of the Advsior, or until that Officer chooses to resign.

e.             Any Officer position that becomes vacant during the year may be re-filled at the discretion of the Advisor. Otherwise, the position remains vacant.

f.              At the discretion of the Advisor, an Officer will be automatically disqualified and immediately removed from office under any of the following conditions:

i.              The Officer is removed from the Partnership.

ii.             The Officer dies or is incapacitated.

iii.            The Officer is deemed by majority vote of the Partners to have committed an act in violation to the Bylaws or Partnership Agreement.

 

4.             Meetings

a.             There is no set schedule for formal meetings. The Advisor or Vice President may call emergency mettings as necessary.

b.             Partners are not expected to participate in the management of the portfolio. It is at their own discretion whether or not they want to be part of the process. Members are not permitted to participate in the management to the portfolio, but may make known their concerns to any Partner. Otherwise, the advisor may solely manage the portfolio.

c.             Annual meetings will be held in December. The exact date will be announced by the Secretary. The purpose of an annual meeting will be to review the closing of the books, finalizing of financial reports, and preparation of a yearly performance summary. Closing of the books and finalization of financial reports must be done by the Treasurer. Preparation of a yearly performance summary must be done by the Secretary.

 

5.             Purchasing or Selling of Assets

a.                    Proposals to purchase or sell assets made by Partners must be completed in writing, with a full analysis accompanying the asset. A full analysis should include, but is not limited to, an analysis of past performance, future performance, any technical analysis, fundamental accounting analysis, and any relevant news related to the company or fund.

b.                   Purchases or sales must be approved by the Advisor.

c.                    Once a purchase or sale has been made, a notice must be made to all Partners and Members about the purchase price, quantity, and time of purchase.

 

6.             Duties and Rights of Members and Partners

a.                    Members and Partners are required to:

i.              Keep current postal address, email address, and phone number on file with the Secretary at all times.

ii.             If they choose to, review quarterly and yearly Group reports, including financial and tax-information reports.

iii.            File individual taxes appropriately for capital gains, losses, or dividend payouts.

iv.            Understand the risks and implications involved in investments. Investments are not insured, and may lose value. I, Domo is not a mutual fund, nor is it a brokerage. Members must understand that there is no coverage against loss of market value of securities. I, Domo is not covered by SIPC nor FDIC.

b.                   There is no penalty for being inactive in the Group. The primary purpose of this Group is to allow Members to invest in the Group, and allow Officers to manage the assets.

c.                    There is no minimum monthly contribution. Contributions should be made in the form of a check, mailed to the Secretary, who will deposit the funds within one week of receipt into the brokerage account.

d.                   Requests for disbursments must be made in writing, one week in advance, to the Secretary. Disbursments may be made in the form of a check, and will be mailed to the members. ACH tranfers may be allowed if members choose so. Other forms of disbursments may be allowed at the discretion of the Advisor.

e.                    New Members are permitted to join at any time, at the discretion of the Advisor, and upon fulfilling the requirements outlined in these bylaws.

f.                     Each Member's and Partner's stake in the Group is determined by the percentage of their contributions out of the whole of the portfolio. That is, their contribution divided by the total worth of the portfolio minus expenses and liabilities will determine how much of capital gains and dividends they will receive. These rules apply to all Officers as well, except the Advisor, who has special caveats outlined in section 9.

g.                   Contributions of assets by Members or Partners must remain in the Group for a minimum of one year. After which, Members and Partners are free to withdraw the full amount of their stake, plus any capital gains or dividends (or minus any losses or expenses).

 

7.             Financial Statements

a.             The Valuation Date for the Group assets shall be the last day of each calendar year (December 31st).

b.             Intermittent valuations must be prepared, at a minimum, on a monthly basis. Values of assets, liabilities, equity, and all balances must be made available to all members. The most appropriate form of this will be a publicly accessible website.

c.             The yearly Group summary shall show the distribution of dividends, interest, short-term and long-term capital gains, and expenses.

 

8.             Capital Contributions

a.             Regular monetary contributions are not mandatory. Members and Partners may contribute at their own discretion. A minimum $500 initial contribution is required to become a Member. This value may be adjusted at the Advisor's discretion.

b.             If desired, Members may arrange for automatic payment of their monthly contributions. Any expense of this automatic payment shall be borne by the Members utilizing this service.

c.             All contributions will be verified with a written or electronic receipt of payment. It is the duty of Members to keep accurate records and receipts of their investments.

 

9.             Group Expenses

a.             Regular expenses, including, but not limited to: broker commissions, are absorbed into the total valuation of the portfolio. That is, they will be deducted from the Cash asset.

b.             For manging the portfolio and Group, up to 20% of capital gains, if any, on each sale may be deferred to expenses of the Group. Of this 20%, the Advisor is entitled to receive up to 40%, the Treasurer up to 30%, the Secretary up to 15%, and the Vice President up to 15%. These percentages may be adjusted as necessary, at the discretion of the Advisor, to accomodate more or less Officers, or to compensate any persons employed by the Group.

 

10.          Broker Account
a.             All securities shall be purchased in the name of the partnership.
b.             All securities shall be kept with the broker.
c.             The Advisor shall be the custodian of all securities.

 

11.          Employees

a.             The Group may, with the approval of the Advisor, employ persons to assist with the operations of the Group. Such positions may include, but are not limited to, any Member service representatives, any assistants, and any technical support personnel. Employees will generally (unless negotiated otherwise) be paid on a commission basis, and the amount and method of which will be determined at the time of hiring.

b.             The Group must hire and pay employees in accordance with the laws of the State in which the Group operates.

 

12.          Amendments. Severability.

a.             These Bylaws may be amended at the discretion of the Advisor, with approval from all Officers. Members may suggest amendments or alterations as necessary, but they must ultimately be approved by the Officers in order to modify these bylaws. Amendments shall become part of the Bylaws upon the effective date specified therein.

b.             If any part of these Bylaws is ruled ineffective or invalid by a court of law, the other parts will remain in full force and effect.

c.             These Bylaws are effective November 10th, 2005, and replace all previous bylaws and amendments thereto.