USCF 1996 Delegates Meeting

Advance Delegate Motions for the
1996 USCF Board of Delegates Meeting
Alexandria, VA, August 10 and 11, 1996

ADM 96-01: (Rachel Lieberman, AZ): Moved, that the minutes of the 1995 Delegates' meeting be accepted.
ADM 96-02 (Rachel Lieberman, AZ): The Delegates certify the election results.
ADM 96-03 (Rachel Lieberman, AZ): The Delegates thank and commend the Tellers and Assistants in the election
ADM 96-04 (Harold Winston, IL): The Delegates re-elect as Delegates At-Large those whose terms are expiring or have expired and who are present at this meeting (names to be filled in).
ADM 96-05 (Board): The 1995-96 budget as presented by the Treasurer is adopted.
ADM 96-06 (Board): The employment of the accounting firm of Ernst and Young is ratified.
ADM 96-07 (Frank Camaratta, AL; E. Steven Doyle, NJ; Recommended by Executive Director Al Lawrence): The Delegates authorize and strongly encourage the Policy Board to sell the land and building currently housing the offices of the United States Chess Federation at 186 Route 9W, in New Windsor, New York, and to purchase or lease new facilities. Further, the proceeds from the sale will be invested in the Life Member Account and become a part thereof, and invested in a manner consistent with the recommendations from the LMA Management Committee. The LMA Management Committee is authorized to loan to USCF Operations an amount not to exceed the sale price of 186 Route 9W. The rate of interest for the loan will not be greater than the prime rate, nor less than the average rate LMA is earning from its Treasury holdings, both rates understood to be those in effect at the time of the loan. Under this new arrangement, Operations will be the owner of the property and, consequently, responsible for all repairs, maintenance, and capital improvements. The Delegates further direct the LMA Advisory Group to modify the actuarial study recently completed to reflect this change and to recalculate the amounts to be transferred annually from the LMA to Operations for services provided to Life and Sustaining Members. The Bylaws Committee is directed to make resulting appropriate wording changes to USCF bylaws within 30 days.
ADM 96-08 (Frank Camaratta, AL; E. Steven Doyle, NJ; Recommended by Executive Director Al Lawrence): The Delegates direct that, starting January 1, 1997, all income from Life and Sustaining Memberships be deposited directly into the Life Member Asset Account. The Delegates further direct that services provided to Life and Sustaining Members be funded Quarterly from the LMA Account. The amount due Operations will be determined by the LMA Advisory Group, and will be based on costs associated with servicing the Life and Sustaining members. For example, if there are 10,000 Life and Sustaining Members, and if the costs of providing services to these members is $14, then the amount to be transferred from the LMA to Operations is $35,000/quarter. The amount shall be paid at the beginning of each quarter and shall reflect any change in the numbers of Life and Sustaining members. It is anticipated that any off set for imputed rent assumed in these calculations will be eliminated once ownership of the property is transferred to Operations.
ADM 96-07 (Frank Camaratta, AL; E. Steven Doyle, NJ; Recommended by Executive Director Al Lawrence): The Delegates direct that actuarial calculations to determine the Present Value of the US Chess Federation's Liability to the Life and Sustaining Members be based on a real internal rate of return of 6%. Since 1990, with the exception of one year, the Fund has realized an annual rate of return of well over 10%. The Delegates further direct that the actuarial calculations be performed on an annual basis and significant differences between the assumed and real rate of returns be reported to the Delegates on an annual basis, along with suitable recommendations. Finally, the Delegates direct that the LMA Account be reconciled every third year against the Present Value Liability calculations, and 70% of any overage be transferred into Operations. It is the intent of the Delegates that these funds be used primarily for capital improvements to the facilities. The remaining 30% of the overage will remain in the LMA Account and will serve as a reserve for years in which poor Fund performance is experienced.
ADM 96-10 (Frank Camaratta, AL): Beginning with the 1997 - 1998 fiscal year, the annual budget will reflect a Contingency Budget Line item equal to 2% of the total budgeted expenses. If year-end projections, based upon after Christmas performance, are favorable, the Policy Board is authorized to use part or all of the Contingency to take advantage of unplanned opportunities, or close the year with a budget surplus.
ADM 96-11 (LMA Management Committee, Accounting, Valuation, and Reporting/AVR/ Group): LIFE MEMBERSHIP LIABILITIES: Paragraphs b, c, d, f, g, h, i, k, and l of Delegate Motion 86-6 will be replaced as follows (replacement wording for paragraphs a, e, and j are proposed in ADM 96-14):

a) The liability will be actuarially re-determined annually based on appropriate financial data. Income from Life membership assets will be amortized to future periods based on life expectancy (actuarial tables) as appropriate based on sufficient reserves.
b) Coincident with such an evaluation, the Land and Building will be appraised. Appraisal value will be determined to be the lower of two (2) certified appraisals.
c) The method for determination of asset and liability values will be based on the computation model developed in 1996 by the LMA Management Committee. Asset values will be based on the historical value of LMA investments and the appraised value of fixed assets. For liabilities, the actuarial calculation will be used in concert with a life member cost calculation to determine both the present value of the Life and Sustaining Member liability account, and the current annual value to be amortized to income based on life expectancy. The Accounting, Reporting, and Valuation Advisory Group of the LMA Management Committee will perform this calculation annually and provide the information to Operations and the Policy Board prior to the Budget meeting in May, and also to the Delegates at the Annual Meeting.
d) The LMA Management Committee will analyze fund performance annually and report to Operations, the Policy Board, the Delegates, and the Members. Such analysis will be the basis for any adjustment of the fund's internal reinvestment rate assumption. Changes to the rate must be proposed to the Policy Board for approval at the February PB meeting, and presented to the Delegates at the Annual Meeting. Proposed changes must be presented using both current and proposed assumptions.
e) As of June 1, 1997, all cash received from Life Members and Sustaining Members will be transferred quarterly to the LMA account while at the same time increasing the LMA liability account.
f) As of June 1, 1997, interest, dividends, gains, and losses will be retained in the LMA account and credited to LMA Income accounts on the general ledger. The Operations budget is not responsible or accountable for LMA gains or losses.
g) Payments will be made to Operations quarterly, based on sufficient reserves.

Please note DM 86-6 is reprinted here for reference.
DM 86-6 (Peacor, Cottell, Cramer, Cunningham, M. Lieberman): The Delegates adopt the following accounting changes:

a. As of 6/30/86, Land and Building will be shown on the balance sheet at the average fair market value of $475,000. This was taken from the three certified appraisals that were completed.
b. As of 6/30/86, the cash in the Life Members cash Investment Account will be brought up to $500,000.
c. As of 6/30/86, the Balance Sheet Account Estimated Liability for Life and Sustaining Memberships will be reflected at $1,018,359.
d. As of 6/30/86, Fund Balance will be reflected at ($43,359) on the Balance Sheet.
e. As of 6/30/86, all fixed assets other than Land and Building, will be reflected in a -0- book value on the Balance Sheet.
f. Any necessary adjustments to the Balance Sheet of the financial statements will be done by the Treasurer in conjunction with the CPAs. The adjustment most likely will affect the long-term liability account for multi-year memberships, increasing it.
g. As of 7/1/86, the "below the line" write-off for life members will cease.
h. As of 7/1/86, 95% of cash received from Life Member payments, and 1/2 of cash received from Sustaining Member payments will be transferred to the Life Members Cash Investment account, while at the same time increasing the liability account. Estimated Liability for Life and Sustaining Memberships by the same amount. The other 5% of Life Members payments and 1/2 of Sustaining Members payments will be recorded as current revenue.
i. As of 7/1/86, the interest earned on the $500,000 Life Members Cash Investment Account will be recorded as Operating Interest Income.
j. As of 7/1/86 the Federation will not have an expense labeled "depreciation" All fixed asset acquisitions are to be expensed when acquired.
k. Present accounting for deferred revenue from multi-year memberships will continue as is.
l. For the fiscal year ending June 30, 1987, the value of the "estimated liability for Life and Sustaining memberships" will be actuarially determined. Subsequent to that time but no less often than every three years the liability will be recalculated. Coincident with such an evaluation, the Land and Building will be appraised, except that for this first year the appraised value of $475,000 will be used.
ADM 96-12 (LMA Management Committee AVR Advisory Group): LIFE MEMBERSHIP ASSETS, LIABILITIES, AND VALUATION

a) As required by Item __, Delegate Motion __ of August, 1996, the AVR Advisory Group provides the Finance Committee with the following information: Based on analysis of LMA assets and liabilities as of February 28, 1996: Appraised value of USCF land and building is $450,000. Historical value of LMA investments is $1,312,177. Actuarially determined liability for Life and Sustaining memberships is $2,099,415.
b) Using a 4% reinvestment rate, and financial data supplied by the USCF Business Office, we determined the LMA to be under funded. Use of a 6% rate results in an actuarial present value computation which approximates the current value of the fund's assets. If the rate remains at 4%, however, then the LMA is under funded by $337 thousand.
c) In light of "b", it is necessary that we more fully understand the historical fund performance. We recommend that the LMA Management Committee engage the Liquid Asset Group to do an analysis of annual fund performance for the period July, 1990 to June, 1996.
ADM 96-13 (LMA Management Committee: AVR Advisory Group): LONG RANGE PLANNING:

a) From mid - 1986 the Life Member reserve has been composed of both financial instruments and the value of USCF business office land and building (real property). Since that time the investments have brought in $566 thousand, and the property has saved the Federation $547 thousand in rental payments. However, a 1995 appraisal resulted in the property being devalued in excess of 30%, or $188 thousand. Further, there is currently a serious need by Operations for more space. We recommend that the appropriate LMA Management Committee group be assigned to evaluate whether or not to retain the USCF business office land and building based on current market fundamentals.
b) The Advisory Group believes that the actuarially-determined liability for the LMA be determined annually, and Operations be funded a specific amount per year. In the long run it is expected that the LMA will have excess funding under this method. Consistent with the past, we expect that there will be pressure on Operations and the Board to attempt to access LMA funds in excess of the actuarially computed amount in order to pay for current programs. The uncertain nature of the real estate and financial markets, the potential for increased fixed costs relating to expanded capacity, and the impact on future liabilities due to the relative size of the Life Member population raise enough caution to require Management and the Board to exercise due care when accessing these funds. We recommend that policy be set so that earnings in excess of the actuarially determined liability remain in the fund, and not given annually to Operations to fund current programs.
ADM 96-14 (LMA Management Committee: AVR Advisory Group): FIXED ASSET POLICY: (Replacing paragraphs a, e, and j of DM 86-6) We recommend that the Delegates adopt the following policy for fixed asset accounting so that the internal record of the USCF more closely conform to generally accepted accounting principles: (1) Effective with the fiscal year beginning in 1997 internal financial reports of capital expenditures and depreciation will convert to the accounting methods identical to those used for external financial reporting. (2) Fixed asset classes and lives and methods used to compute depreciation will be introduced using the methods employed by the former audit firm. (3) Starting balances will be adjusted based on the most recent audited financial statements. Copies of asset and reserve schedules will be obtained from the former auditor as necessary to initiate this policy. (4) Capital asset purchases be reported monthly on the MDR.
ADM 96-15 (LMA Management Committee: AVR Advisory Group): CAPITAL ASSET BUDGET PROCESS: The conversion of our internal accounting records to GAAP will require more appropriate capital asset planning. Effective for the fiscal year beginning in 1997 the USCF Executive Director will submit annually to the Policy Board a Capital Expenditure Plan and a Cash Flow Forecast in addition to the required Planning Budget. Draft reporting of all documents is required for the May Budget Meeting.
ADM 96-16 (Ratings Committee): USCF members with prison membership are precluded from appearing on any Top 50 list.
ADM 96-17 (Ratings Committee): Ratings of USCF members with prison membership are to be treated as Provisional based on one game once such players become regular members.
ADM 96-18 (Ratings Committee): Lowering of Rating Floors: Effective immediately a player's rating may not go 200 points below the highest 100 point boundary lower than a player's highest attained rating. In effect this "drops" the rating floors by 100 points. If the player's highest rating, however, is lower than 1600, this rule is not in effect, and the player's rating "floor " is 0. Examples: (a) A player who has a highest rating of 1705 would have a rating floor of 1500; (b) A player who has a highest rating of 1695 would have a rating floor of 1400; (-c-) A player who has a highest rating of 1550 would have a rating floor of 0.
ADM 96-19 (Scholastic Committee): The Scholastic Committee shall be chosen by the scholastic affiliates.
ADM 96-20 (Scholastic Committee): The Scholastic Committee shall be given some specific autonomy. These shall include the tasks of writing and approving the "Requirements and Guidelines for conducting National Scholastic Championship Tournaments" and approval of sites for said tournaments.
ADM 96-21 (Scholastic Committee): Home school students shall be allowed to group together by their respective regional associations to form teams for National Scholastic Championship Tournaments.
ADM 96-22 (Scholastic Committee): Any student living in a state that requires public schools to include the home school student in the student's home district for extra-curricular activities may play on that school's team at a National Scholastic Championship Tournament.
ADM 96-23 (Scholastic Committee): Club teams shall be permitted to play at National Scholastic Tournaments provided there is no pairing protection for members of the same team.
ADM 96-24 (Harold Winston, IL): The Delegates ratify all actions of the Policy Board appearing in the published minutes of the Policy Board meetings between the 1995 and 1996 Delegates meetings.
ADM 96-25 (Harold Winston, IL): Pursuant to Article III, Section 9 of the USCF Bylaws, the Delegates have reviewed the promotional memberships offered by the Policy Board in 1995 - 96 and authorize their continuation.

The following items are from the 1995 agenda:
DM 95-18/ DM 94 62 (NDM 94-75): (Todd Barre, IL; Alexey Root, TX; Dewain Barber, SCA): Child care shall be available during the US Open Delegate Meetings and awards banquet REFERRED TO THE LEGAL TASK FORCE.
DM 95-39/ ADM 95-14 (Dan Burg, MI): The 1% Solution and other issues dealing with USCF Voting Member apportionment shall be referred to the Bylaws Committee and the Regions and States Committee. REFERRED TO BYLAWS AND REGIONS AND STATES
DM 95-09/ NDM 95-51 (Frank Camaratta, AL): The financial statements of the USCF shall be presented in accordance with generally accepted accounting principles (GAAP). Additional management reports shall be presented, including a report of actual capital expenditures versus budget and a comparative cash flow statement. REFERRED TO THE PB AND FINANCE COMMITTEE WITH POWER TO IMPLEMENT.
DM 95-24/ DM 94-10/ ADM 94-20 (Todd Barre, IL: Frank Camaratta, AL): The issue of ratings and rating floors shall be studied by the Ratings Committee for review and implementation. PASSED / REFERRED TO THE RATINGS COMMITTEE FOR REVIEW AND IMPLEMENTATION.
DM 95-49/ ADM 95-25 (Bill Snead, TX): The Delegates charge the rules committee to come up with an appropriate way to create a new category called an unrated draw and have the Policy Board have the power to implement. REFERRED TO THE RULES COMMITTEE AND POLICY BOARD
ADM 96-26 (DM 95-39) (Bylaws Committee): Amend Article V, Section 2 of the Bylaws effective with the election of 1997 Voting Members (1) To change the words "350 Voting Members" to "400 Voting Members" and (2) To change the wording "Each state with ten or more members shall have at least one Voting Member, each state with 50 or more members shall have at least two Voting Members, and each state with 300 or more members shall have at least three voting Members."
The Regions and States Committee was torn between the following two sets of wording and requested that both versions be printed in the advance agenda. The difference is underlined and relates to the number of members a state must have to merit two Voting Members.
- ADM 96-27A (DM 95-39) /Wording A (Tom Dorsch, NCA; Harold Winston, IL): Amend Article V, Section 2 of the Bylaws effective with the election of the 1997 Voting Members (1) To change the words "350 Voting Members" to "400 Voting Members" and (2) To replace the words "Each state with ten or more members shall have at least one Voting Member" by "Each state with 25 or more members shall have at least two Voting Members and each state with 300 or more members shall have at least three Voting Members."
- ADM 96-27B (DM 95-39) /Wording B (Guy Hoffman, WI): Amend Article V, Section 2 of the Bylaws effective with the election of the 1997 Voting Members (1) To change the words "350 Voting Members" to "400 Voting Members" and (2) To replace the words "Each state with ten or more members shall have at least one Voting Member" by "Each state with ten or more members shall have at least one Voting member, each state with 100 or more members shall have at least two Voting Members, and each state with 300 or more members shall have at least three Voting Members."
The following motion was referred to the Regions and States Committee, where it PASSED 10-0, and is now being presented to the Delegates as a Committee motion:
ADM 96-28 (DM 95-56) (Regions and States Committee; Dan Burg, Chairman): Article IV, Section 1 of the bylaws is amended by removing Kentucky from Region V and transferring it to Region VIII
ADM 96-29(Tim Just, IL): As of January 1, 1997, the use of a rating floor will be discontinued. (Any attempt to amend this issue is covered in Motions 2, 3, 4, or 5. This and Motions 2, 3, and 5 have been in Committee since 1993.)
ADM 96-30 (Tim Just, IL): As of January 1, 1997, the use of a rating floor will be discontinued for all ratings above X (X to be determined by all Delegates or the Ratings Committee before January 1, 1997.) Note: This is to be considered only if 96-29 fails.
ADM 96-31 (Tim Just, IL): As of January 1, 1997, the use of a rating floor, using the current formula to determine a floor, will be X (X to be determined by the Delegates or the Ratings Committee before January 1, 1997.) Note: This is to be considered only if 96-29 fails.
ADM 9632 (Tim Just, IL): As of January 1, 1997, the use of a rating floor will continue as it is currently calculated except that rating floors will automatically drop 100 points for all individuals that remain at their floor for X years (X to be determined by the Delegates or the Ratings Committee before January 1, 1997.) Note: This is to be considered only if 96-29 fails.
ADM 96-33 (Tim Just, IL): The use of a rating floor will continue as it is currently calculated. Note: This is to be considered only if 96-26 through 29 fail.
ADM 96-34 (Tim Just, IL): Effective immediately PB 96-34 (in round robins or matches a player may not gain rating points against a player currently at his rating floor) is rescinded.
ADM 96-35 (Tim Just, IL): Effective January 1, 1997, no rating fee shall be paid in any game where both player's ratings do not change because one or both of the players are at a rating floor.
ADM 96-36 (Tim Just, IL): Effective January 1, 1997, one-half (1/2) the current rating fee shall be paid in any USCF rated game where only one of the player's ratings changes because the other player was at a rating floor.
ADM 96-37 (Thomas Fineberg, IL): Quick Chess ratings should be used for time controls G/10 through G/44. Regular ratings should be used for G/45 and slower.
ADM 96-38 (Scott Freneaux, AZ): USCF is to waive all rating fees during the first six months after a new full-time chess studio opens, running only USCF tournaments.
ADM 96-39 (Garrett Scott, IL): The Rating Committee shall be directed to adopt procedures to combat rating deflation apparent in scholastic chess.
ADM 96-40 (Myron Lieberman, AZ): Any affiliate can choose to have its rating lists provided as hard copy or on disk with no additional cost.
ADM 96-41 (Tim Redman, IL, USCF President 1981-84; George Koltanowski, NCA, USCF President 1975-78; Frank Skoff, IL, USCF President 1972-75; Leroy Dubeck, NJ, USCF President 1969-72): Add to Article VII, Section 1, after the word "Treasurer": "The Immediate Past President in the year immediately following his term as President".
Please note: The new wording of Article VII (Policy Board), Section 1 (Composition) would be as follows:
"The Policy Board shall consist of the President, Vice President, Secretary, Treasurer, The Immediate past President in the year immediately following his term as President, and three Members at Large elected by all Voting Members."
The Bylaws Committee offers the following substitute for 96-41:
ADM 96-42 (Bylaws Committee): Add as the third sentence to Article VII, Section 1: "The Immediate Past President shall serve on the Policy Board through December 31 of the year his or her term (as President) ends."
ADM 96-43 (Camaratta): Any Immediate Past President who remains on the Policy Board of the US Chess Federation, serves to offer advice and insure continuity only and, consequently, shall have no voting rights as a Board member.
ADM 96-44 (Jerry Hanken, CA/S): Any USCF member who has served ten years on the Policy Board is automatically a Life Member of the Policy Board.
ADM 96-45 (Harold Stenzel, NY): The members have the right to expect Policy Board members to be visible and accessible. It is the sense of the Delegates that since transportation and lodging are provided at USCF expense, there is an ethical obligation and responsibility for Policy Board members to be present at all meetings at which their presence should reasonably be expected.
ADM 96-46(Arnold Denker, FL): The Delegates establish a committee to advise the Policy Board on matters pertaining to FIDE. The committee is to report to the Policy Board and assist the FIDE Delegate as needed.
ADM 96-47 (Arnold Denker, FL; Leroy Dubeck, NJ; Robert Erkes, MD): Add to Article VII, Section 4, after "No full time employee of the USCF" the phrase "nor anyone earning more than 50% of his/her annual income from USCF sponsored or rated events exclusive of prizes won by contestants." The rest of the sentence would continue to read "shall serve in any elected office on the Policy Board."
Please note: The full sentence would read as follows:
No full time employee of the USCF nor anyone earning more than 50% of his/her annual income from USCF sponsored or rated events exclusive of prizes won by contestants shall serve in any elected office on the Policy Board.
ADM 96-48 (Tim Redman, TX): The Delegates of the US Chess Federation direct the Policy Board, with the aid of Counsel, the Legal Committee, and other individuals or committees it considers helpful or appropriate, to consider the question or problem of conflict of interest as it relates to the actions, decisions, activities, or votes of the Policy Board itself, the members of the USCF staff, the Board of the USCF Charitable Trust, and other related organizations. The recommendations of the Policy Board, including appropriate motions or bylaws amendments, are to be submitted for the Advance Agenda for the 1997 meeting of the Delegates.
ADM 96-49 (Myron Lieberman, AZ): Amend Article IV, Section 2 of the Bylaws to append the following: All states should have the opportunity to have at least one Regional Vice President. Therefore, a candidate from a state that already has a Regional Vice President may only run if there are no candidates from states with no Regional Vice Presidents within the same region.
ADM 96-50: (Ken Horne, NV) A member of the Policy Board can be removed from office by a special recall election. A Policy Board member recall election can be made by a petition signed by five of the seven board members or a petition signed by TBD (200 or 25% or so) voting members. The petition will be given to the President of the USCF or if the President is being recalled given to the USCF Vice President to conduct a recall election. The nomination committee will find candidate /candidates to run against the board member being recalled. Note: Mr. Horne has indicated that the purpose of this motion is to establish a recall procedure for PB members (not necessarily this procedure). The Bylaws do not currently provide a recall procedure. Myron Lieberman offers the following substitute wording.
ADM 96-51 (Myron Lieberman, AZ): The Delegates charge the Bylaws Committee with the task of creating a procedure for recall of elected officials and any necessary Bylaw changes and/or new Bylaws to implement the procedure. The Bylaws Committee is to report back to the Delegates at the 1997 annual meeting with the proposed procedure.
ADM 96-52 (Ken Horne, NV): The Board of Delegates can refuse to seat a delegate by a 2/3 majority.
ADM 96-53 (Jerry Hanken, CA/S; Randy Hough, CA/S): Five votes shall be required for the Policy Board to terminate the contract of an Executive Director (six if the Board has eight members, rather than seven.)
ADM 96-54 (Scott Freneaux, AZ): USCF is to match industry average wholesale discounts from publishers to full time retail and chess outlets that sell only chess books and equipment and run USCF tournaments.
ADM 96-55 (Scott Freneaux, AZ): USCF is to arrange for free advertising in Chess Life Magazine for the first six months after a new full-time chess studio opens, running only USCF tournaments.
ADM 96-56 (Scott Freneaux, AZ): For every 100 USCF scholastic memberships sold in one year, a 20% rebate will be accrued onto the affiliate's account, to be used only for scholastic ads, chosen by the affiliate.
ADM 96-57 (Sponsored by M. Lieberman, AZ, for Dewain Barber, SCA): A separate scholastic state affiliate shall be created for all states.
ADM 96-58 (Sponsored by M. Lieberman, AZ, for Dewain Barber, SCA): No alcoholic beverages may be possessed or consumed within any areas of any scholastic event.
ADM 96-59 (Hal Terrie, NH): Effective with the 1997 event, re-entries are forbidden in the US Open.
ADM 96-60 (Hal Terrie, NH): Effective with the 1997 event, playing schedules involving more than two games per day and/ or a primary sudden death time control, are forbidden in the US Open.
ADM 96-61 (Walter Schaetzle, AL): The US Open shall be completed by the end of the first full week in August each year.
ADM 96-62 (Harold Winston, IL): Amend DM 95-05 as follows: (1) In sentence two, replace the words "The current Treasurer" by "a former Policy Board member or Finance Committee Chairman"; (2) In sentence three delete the words "other than the current Treasurer"; (3) In sentence four add at the end of the sentence: "and another former Policy Board member or former Finance Committee Chairman"; (4) Add a sentence at the end of the motion to read: "No current Policy Board member shall be a member of the Accounting Valuation and Reporting Group or the Fixed Asset Group."
Please note: DM 95-05 reads as follows:
DM 95-05/ NDM 95-48 (Frank Camaratta, AL): The delegates establish and appoint a committee to manage and account for USCF's life member assets. The committee shall consist of a past USCF President selected by the delegates, who will be chair; the current treasurer; and the immediate past treasurer. No member of the Committee other than the current treasurer shall be a current Policy Board member. Should any of the other persons designated become members of the Policy Board, or resign, the most recent past treasurer who is not currently on the Policy Board shall serve in place of the immediate past treasurer and the Policy Board shall select another former USCF President as Chairman. Written approval of two of the three committee members, and signatures of two official account signatories (i.e. the President, the Treasurer, and the Executive Director), shall be required to buy or sell any LMA liquid assets.
The delegates establish and appoint three groups to advise the LMA Management Committee: an accounting, valuation, and reporting group; a liquid asset group; and a fixed asset group. The LMA Management Committee chair shall appoint liaisons from the committee to each advisory group.
The Accounting Valuation and Reporting Group is responsible for: 1) performing all actuarial studies; 2) reviewing the accounting for LMA assets; 3) establishing an appropriate amount to be transferred between USCF operations and the LMA; and 4) supervising the periodic appraisal of USCF's land and building.
The Liquid Asset Group is responsible for: 1) advising the committee on liquid asset investment strategies, and 2) establishing appropriate controls for the buying and selling of negotiable securities.
The Fixed Asset Group is responsible for: 1) advising the committee on establishing and maintaining a pro forma lease arrangement between the LMA and USCF operations regarding USCF's land and building, spelling out the rights and responsibilities of the landlord and the tenant; 2) conducting a yearly review of any proposed improvements and major repairs to the fixed assets, and reporting to the committee and delegates on same; and 3) conducting a yearly review of the administration of the lease arrangement, and reporting to the committee and delegates on same. PASSED AS AMENDED
ADM 96-63 (Tony Cottell, NJ): The Delegates direct the Policy Board to transfer title to all real estate to a new NY corporation, named LMA Trust Corp.
ADM 96-64 (Tony Cottell, NJ): The Delegates direct the Policy Board to transfer ownership of all LMA liquid assets including, but not limited to, stocks, bonds, mutual funds, partnership interests, Treasury bills, notes, bonds, etc., to a new NY corporation named LMA Trust Corp.
ADM 96-65 (Guy G. Hoffman, WI): Tournaments that prohibit the consumption of alcoholic beverages shall include the code NA (No Alcohol) in their TLAs.
ADM 96-66 (Walter Schaetzle, AL): The Cadet shall be completed before the start of the US Open each year.
ADM 96-67 (Walter Schaetzle, AL): A) The Junior Chess Congress shall be changed so that the age groups in each Division are the same and correspond to the age groups of the World Chess Festival; that is, Under 18, Under 16, Under 14, Under 12, Under 10, Under 8, and Under 6. B) There shall be a face to face play-off in which the Divisional age group winners compete to determine the National age group winners, and C) The National age group winners shall attend the World Chess Festival as the US representatives for each of the age groups.
ADM 96-68 (Jerry Hanken, CA/S): The Policy Board motion raising eligibility for the US Senior Open to 60 and barring non-US players is hereby rescinded. Note: Please refer to PB 96-09 and 96-10 in PBN 2 for 1995/ 96.
ADM 96-69: (Ken Horne, NV): The US Senior Open Championship is open to those 50 and over. PB 96-09 will have to be rescinded if the Policy Board was referring to the US Senior Open Championship in this motion.
ADM 96-70: (Ken Horne, NV): Eligibility for prizes or a title in the US Senior Open Championship, except for the age requirement, will have the same requirement as the US Open and National Open Championships. PB 96-10 will have to be rescinded if the Policy Board was referring to the US Senior Open Championship in this motion.
ADM 96-71 (Ken Horne, NV) The office will conduct a survey at the major open tournaments that are sponsored by the USCF. The purpose of these surveys will be for marketing and to learn information about the USCF's customers.
ADM 96-72 (Garrett Scott, IL): School Mates shall be designated an official magazine of the United States Chess Federation.
ADM 96-73 (Board - motion PB 96-57): The Policy Board recommends to the Delegates approval of the following recommendations from the Chairman of the Legal Task Force and outside Counsel: Reorganize the corporate structure of the USCF which may include, but not necessarily be limited to, a change in the state of incorporation.
ADM 96-74 (Board) The Policy Board recommends to the Delegates that the Bylaws Committee be charged with drafting the appropriate language for implementation of PB 96-28, which reads: The corporate name of the USCF is to be officially changed to the US Chess Federation.