Old constitution

I think Des's "principles" are in-line with these constitution ideas we had before. I thought I'd post it on the blog, because that's what blogs are for.

Constitution:
1.) All investment and constitution decisions will be made by a democratic vote. a 50%+1 share vote is needed to pass any investmentdecisions.For instance, if at some future time the share ownership is distributed as follows:
Eddie: 26%
Peter: 25%
Des: 25%
Arash: 24%
Eddie and Peter's shares may pass a vote (26+25=51%) but Eddie and Arash (26+24=50%) may not pass a vote. In fact, Arash will always need the support of 2 other partners to pass a vote. Initially, all partners will have equal 25% ownership, so will need3/4 votes to pass decisions.
2.) Minimum Contribution: $2000-5000?? at any time during the calendaryear. Something that will let us get into a new investment ideawithout liquidating our current positions. Also, anything smaller makes accounting a bit tedious.
3.) Maximum Contribution: Unlimited, HOWEVER, the voting shares arecapped at 49.9% of the vote. This is to prevent one partner from making financial decisions "independently". So if one person contributes $50,000 next year, he will have contributed more than 50%of the capital, but cannot control all of the voting decisions.
4.) Withdrawals: There is a minimum holding period of 1 (2??) year.Any withdrawal must be preceded by a notice of at least 2months,stating the amount of withdrawal. The 2months period allows for timelydivestiture of assets such that it will not negatively impact theinvestments of the remaining partners. The remaining partners may elect (vote) to grant the withdrawal at an earlier point than 2months. The voting shares are adjusted at the time of withdrawal.
5.) Votes may be taken by email, txt msg, or con-calls. Due to the timeliness of some investment opportunities, we may need a quick callto get voter approval.
6.) New members may join with the consent of majority vote.

That's a start. Notice, no investing styles or strategies, I believe in democracy.