The Board of Directors has approved rule and regulation changes as summarized below.  These revisions, designed to simplify and clarify a number of procedures related to membership applications and delegations, will be effective March 13, 2006.

-        Eliminate the membership “status request form” procedure by deleting Regulation 202.01;

-        Amend Rule 221.00 to specify that, when a delegated membership is sold, the delegation agreement will not automatically terminate any earlier than the deadline for payment of the purchase price;

-        Amend Rule 221.00 to clarify that a delegation agreement will terminate automatically, and without exception, upon the suspension of either the lessor or lessee; and

-        Amend Regulation 203.01 to eliminate the requirement that individuals sign the membership register every time that they acquire an additional membership or change their delegate status.

Copies of amended Rule 221.00 and amended Regulation 203.01 are available from the Secretary’s Office.

Questions in this regard may be directed to the Member Services Department, Nancy Dye (312/435-3484) or Maria Fritz (312/435-3485).