SynerGen Society Fund
1. Statement of Purpose. This fund will be maintained for the common good of the members of SynerGen. The fund will acquire and hold virtual assets for the use and benefit of society members. The fund will not engage in business enterprises except as authorized in this document.
2. Governance. The members of the Expedition Advisor tier will serve as the Board of Trustees of this fund and will establish policies for the operation of the fund. The Board of Trustees may appoint one or more managers and may delegate authority to the managers.
3. Eligibility to Participate. All members of SynerGen in the Senior Traveler tier and above may fully participate in this fund. The Board of Trustees may allow for limited participation by society Travelers.
4. Custody of Fund Assets. The avatar known as “Synergy SynerGen Genesis” will hold all fund assets. Access to the “Synergy SynerGen Genesis” account will be given only to members of the Board of Trustees and managers authorized by the Board of Trustees.
5. Contributions to the Fund.
a. Everyone is welcome to make unrestricted contributions to the fund. Unrestricted contributions may be in the form of PEDs or virtual assets.
b. A donor may specify that a contribution be used for a specific purpose. For example, a donor may specify that a robot beacon be used for a society beacon run.
c. A member of the society may lend an asset to the fund. For example, a member may lend an estate, set of armor, weapon, blueprint or other asset to the fund for a given period of time. In such event the member assumes the risk of loss of the asset. The fund and its Board of Trustees will not be liable in the event the asset is lost because of the default or misconduct of a society member or for any other reason beyond the control of the Board of Trustees.
6. Use of Fund Assets. The Board of Trustees may use the assets of the fund for the following purposes. This list is non-exclusive.
a. Assets of the fund may be loaned to members of SynerGen for agreed periods of time. The period of time may be limited for assets in popular demand. The member will repair all decay to the assets resulting from the member�s use. For limited assets that cannot be repaired the member will reimburse the fund for decay plus markup on the decay. Monthly auction average will be used to calculate decay. The member may not transfer the asset to any other avatar without the prior consent of the fund manager or the Board of Trustees.
b. Funds permitting, each Traveler may be provided with a welcome kit consisting of armor, weapon, ammunition and FAP.
c. Assets of the fund may be used for society team activities such as team hunts. If the fund provides ammunition for a team hunt, all loot dropped during the team hunt will be donated to the fund as an unrestricted contribution. In such event, team members will not be required to reimburse the fund for the ammunition. If the team obtains a global or HOF the Board of Trustees will reward the team with 10% of the value of any global and 25% of the value of any HOF.
d. Assets of the fund may be used for special activities and events. An example of a special activity would be a society hunt where the society provides the ammunition and the participants keep all loot.
7. Conducting Business. This fund is a benefit fund and will not engage in any business activity. The following activities will not be prohibited by this restriction:
a. Lending assets to society members and receiving compensation for the use or depreciation of the assets.
b. Purchase of assets that promote the purpose of the fund.
c. Sale of assets that do not promote the purpose of the fund.
d. Purchase of investment shares in the SynerGen Enterprise Fund.
8. MindArk EULA. This fund will operate in full compliance with the MindArk End User License Agreement.
9. Modification of this Document. This document may be amended from time to time by the Board of Trustees. All members of the society will be given notice and reasonable opportunity to comment on any proposed amendment. Notice will be not less than three days. Notice will be given by email and posting on the society web site.
10. Termination of the Society or the Fund. Upon the termination of the society or of this fund, the board of trustees will distribute the assets of the fund in a fair and equitable manner.
