with Section 3 of this Article, and shall provide quarterly and annual financial reports to members, by and through the President.

Section 5. Inspection of Books and Records: Any and all members of the Association shall have the right to (a) review and/or inspect their respective ledger accounts and other accounts they may have upon a 24 hours oral or written notice to the custodian of said records; and (b) review and/or inspect the books and records of the Association upon a seven days oral or written notice to the Executive Committee.

Section 6. The Association shall use its funds only to accomplish the objectives and purposes specified, except as elsewhere provided in this Constitution, and no part of said funds shall inure, or be distributed to any member of the Association.

ARTICLE XIV.

SHORT-TERM LOANS

Section 1. The Association may grant short-term loans to any of its needy member(s),

upon approval by the Executive Committee or the committee established for that purpose, provided, however, that:

(a) there is sufficient fund in the coffers of the Association;

(b) the member shall make a written request to the Executive Committee or the committee responsible for this activity;

(c) the member shall have provided adequate security to secure said loan or provided a member guarantor to guarantee said loan;

(d) the member shall have paid all obligations to the Association consistently; and

(e) the member shall be found to be financially capable to repay said loan.

(f) The Executive Committee, ‘in’ addition to the above provisions follows‘ the Association’s guidelines on loans.

Section 2. The Association, by and through its Executive Committee, may not grant loans to its members in excess of six (6) months, nor shall said loan amount exceed the sum of $500.00.