Constitution and Bylaws
Below are the most recent rendition of the constitution and bylaws of the Gamma Iota Sigma Chi Chapter. These are subject to change at any time the executive council and/or grand chapter see fit.
Article I – Name
The name of this Drake University organization is the Chi Chapter of Gamma Iota Sigma.
Article II – Vision Statement, Mission Statement, and Core Values
Vision Statement: Our vision is to develop the best actuarial science and insurance students in the world.
Grand Chapter Mission: The purpose of this fraternity is to promote, encourage, and sustain student interest in actuarial science and the insurance industry as a profession; to promote the scholastic attainments of our members; and to facilitate interaction through networking and by fostering a desire for knowledge, a dedication to high character, and faithful brotherhood to the fraternity.
Chi Chapter Mission: Our mission is to develop actuaries and insurance professionals that not only excel in the technical aspect of the profession, but also possess the leadership ability and social consciousness to implement innovative solutions to current insurance and risk management problems creating a positive impact on both the corporation and community at large.
Core Values: Brotherhood demonstrates the lasting friendships between our members resulting from active involvement in the fraternity.
Knowledge demonstrates academic success through both college courses and actuarial exams. Not only does Knowledge resemble academic success, but it shows our members’ drive to continually learn and improve.
Leadership demonstrates the ability to initiate and lead projects, work effectively in team settings, communicate effectively, and use critical thinking skills to guide people toward an effective solution.
Professionalism demonstrates superior knowledge of the insurance industry, work experience, technical skills, and business acumen.
Community Involvement demonstrates social responsibility. Our members consider how their actions and decisions impact the broader community, and they strive to make a positive impact on the community.
Article III – Membership
Membership to this fraternity will be open to all Drake University students who are in good standing with the university. Members will be required to pay dues as set by the Executive Council based upon the national due requirements and the money needed to sustain the chapter. Members will also be required to fulfill the requirements set forth by the Chi Chapter bylaws and by the Executive Council.
Members will have to attend a professional interview in order to show their intent to pledge the fraternity. Every student interested in joining the fraternity will have the opportunity to accept a bid and pledge the fraternity. New members pledging the fraternity will become active members upon completion of the new member requirements as set by the Executive Council. In the case that a new member does not complete the new member requirements, the individual can pledge the fraternity again in future semesters to become active.
New Member (Pledge): a member who has been invited to join the fraternity but is in the process of pledging in order to show his or her intent to be a brother and learn what it means to be an active member.
Active Member: a member who has finished the pledging process and has been initiated into the fraternity. He or she will remain an active member until the person decides to leave the organization or does not meet active member requirements and is put on probation.
Probationary Member: a member on probation for not finishing requirements from the previous active semester. A probationary member will have to meet with one of the Co-Presidents to discuss why he or she did not fulfill requirements and complete additional requirements (as determined by the Executive Council) to regain active member status. A probationary member still receives exam reimbursement.
Two consecutive semesters on probation results in dismembership. The Executive Council reserves the right to appeal all membership status decisions, especially to remove alumni status if a member is on probation for his/her last two semesters. A member may appeal any situation.
Exemplary Member: a member who exceeds the requirements of being an active member and exemplifies the core values of the fraternity. Exemplary member requirements are determined by the Executive Council and demand more commitment than active member requirements.
Inactive Member: a member who applies and is granted inactive status by the Executive Council. Inactive members do not have the same privileges as active members, and these restrictions are determined by the Executive Council. An inactive member does not qualify for exam reimbursement. An inactive member can become active again by paying dues and meeting with a member of the Executive Council to discuss his or her commitment to the fraternity. Inactive members do not need to go through the pledging process to become active again.
Partial member: must apply and be accepted by the Executive Council. They will be required to pay half dues, complete half of the requirements, and will qualify for exam reimbursement. Additionally, extra costs may be imposed by the Executive Council if the partial member wishes to attend costly events. Those that go partial after going on probation will make up probationary requirements the first semester in which they return from partial membership.
A member cannot be inactive for two consecutive semesters. Doing so will result in dismembership. If a member goes inactive during his/her last semester, the Executive Council reserves the right to remove alumni status.
A member up for revocation will have to meet with the Executive Council to discuss why he or she is up for revocation. The person will then have the chance to give a defense against the revocation motion. The Executive Council will take a vote, which must be unanimous to effectively revoke membership. If not unanimous then discussion will continue until one is reached. The revoked member will then receive in writing that his or her membership to the fraternity has been revoked and why. In any case, the Executive Council reserves the right to remove or change the membership or alumni status of any member. This process may also be used for prospective members interested in joining, or those who have dismembered and are interested in rejoining.
The Organization will not discriminate on the basis of race, color, creed, religion, national origin, gender identity, sexual orientation, age disability or veteran status.
In the event that someone who has previously dismembered wishes to rejoin the fraternity, they must follow a modified version of the pledging process to demonstrate their dedication. The process starts with a meeting with the current Co-Presidents outlining their intentions in returning. The person of interest will then be allowed to start attending chapter events starting at the same time as the next pledge class. The rejoining member must complete a modified version of the new member requirements outlined by the Executive Council. They will be given full membership status upon completion of these requirements at the same time as the pledges of that semester.
Article IV - Officer Description
The duties for the officers on Executive Council are as follows. Co-President and Vice President positions are two semesters in length, and Director positions are one semester in length.
Co-President is responsible for overseeing the duties of all Executive Council officers and acting in the best interest of the organization. The Co-President offers strategic guidance for the fraternity and keeps the organization on track to meet its long-term goals outlined in the strategic plan. The Co-President acts as a liaison between the fraternity and external organizations and individuals (e.g. Grand Chapter, Professional Societies, Insurance Companies, Drake University Faculty, etc.). Typically, the senior Co-President will take ownership over the strategic planning and external communications while the new Co-President will take ownership over coordinating the efforts of the Executive Council members within the fraternity.
If a Co-President cannot fulfill his or her duties for any reason the other Co-President will step in and act as best needed for the organization. The EC will vote at the next EC meeting if they will hold a special election for Co-President. The EC will decide what the election process will be at that time.
VP of Internal Affairs is responsible for communication between all of the members. The VP of Internal Affairs also keeps membership records and completes the Monthly Chapter Reports to be sent to Grand Chapter. The VP of Internal Affairs keeps track of requirements and determines the membership status of each individual based on the requirements outlined by the Executive Council.
VP of Professionalism is a liaison between the fraternity and the industry and is responsible for organizing educational events for members to further their knowledge of the actuarial profession. The VP of Professionalism is responsible for developing the core values of Professionalism and Leadership in each of our members.
VP of Finance is a liaison between the fraternity and SLC for our finances. They are responsible for allocating funds and creating a budget for the organization. The VP of Finance is also responsible for coordinating fundraising activities, and working with the external Co-President to plan funding for International Conference.
Director of Recruitment and Ritual is responsible for scheduling recruitment week activities and promoting the fraternity to interested students. The Director of Recruitment and Ritual guides the new members through the pledging process and organizes events for the new members. The Director of Recruitment and Ritual is in charge of upholding the fraternity’s rituals, including Activation, Initiation, and Graduation. The Director of Recruitment and Ritual is responsible for developing the core value of Brotherhood in each of our members.
Director of Professional Development is responsible for organizing events that improve members’ professional skills, including both technical and soft skills. The Director of Professional Development is responsible for developing the core values of Professionalism and Knowledge in each of our members.
Director of Public & Alumni Relations is responsible for managing the fraternity’s social media accounts and promoting the brand of the fraternity. The Director of Public & Alumni Relations also assists the members of the Executive Council in creating marketing materials for events and publicizing events to the chapter. The Director of Public & Alumni Relations is also in charge of updating the alumni database and creating an alumni newsletter each semester.
Director of Social is responsible for maintaining strong brotherhood amongst members by organizing social events that encourage member bonding. The Director of Social is responsible for developing the core value of Brotherhood in each of our members.
Director of Service is responsible for organizing events to give members the chance to make an impact in the community. The Director of Service is responsible for developing the core value of Community Involvement in each of our members.
Director of Technology is responsible for maintaining and improving the fraternity’s website and other technology. The website is used as a resource for members to assist them in studying for classes and actuarial exams, and it is also used to promote the brand of the chapter. The Director of Technology is responsible for developing the core value of Knowledge in each of our members through providing educational resources on the website.
Pledge Class President is responsible for representing the ideas and opinions of the current pledge class during Executive Council meetings. The Pledge Class President will guide the pledge class through the pledge semester and organize a social event to help them bond. The Pledge Class President is responsible for developing the value of Brotherhood among our pledge members.
Article V – Elections of Officers
There will be nine positions available for election: VP of Internal Affairs, VP of Professionalism, VP of Finance, Director of Recruitment and Ritual, Director of Professional Development, Director of Public Relations, Director of Social, Director of Service, and Director of Technology. Members can nominate themselves or other members prior to the election (exact deadline will be specified by the Executive Council), and nominees have the right to accept or refuse the nomination. Candidates will have the opportunity to give a short speech and then answer questions from the other members of the fraternity. Closed discussions will occur for each position after all the candidates for the position have spoken and answered questions. All elections will be done by secret ballot, and only Active members are eligible to vote. There must be a two-thirds majority vote to elect a person. If there is not a two-thirds majority, then there must be runoff voting, the candidate with the least number of votes will be removed from the next round of voting. There will then be time for further discussion. If a two-thirds majority is not met after the second vote the third vote is a 50 percent majority vote. For vacancies on the EC, the Co-President can call an election to fill the spot. Terms in office run two semesters for VP positions and one semester for Directors.
For the position of Co-President position members can nominate themselves or other members prior to the election (exact deadline will be specified by the Executive Council), and nominees have the right to accept or refuse the nomination. The election process begins with a candidate submitting a written application put together by EC along with their resume. After the submission deadline (decided by EC), all of the candidates’ applications and resumes will be sent out to the entire chapter. In the case that only one person fills out an application for the Co-President position, after the application deadline another opportunity for nominations will be presented to the chapter with a new deadline decided by the Executive Council, but before the interview portion. The second round nominees still reserve the right to accept or refuse the nomination. If a new nominee accepts this nomination they will be required to email a completed application and resume before the interview portion of the Co-President election process and participate in an interview. If no one accepts the nomination at this point in the election process the original applicant will be the only one running for Co-President that semester. Members can submit questions to EC that they would like to be asked after candidate speeches. Interviews will be held as outlined in section 5 of the bylaws. On election night, candidates will give short speeches after which there will be a period for predetermined questions asked by EC and then a period for open questions from the chapter. The same discussion and election process will be used as outlined above for the VPs and Directors.
Director and Co-President elections will occur each semester, and VP elections will occur each spring semester. Co-President applications should be sent out halfway through the semester, and the Co-President should be appointed two-thirds of the way through the semester. Elections for VPs and Directors should occur about three-fourths of the way through the semester.
In the case where a majority is not reached for any candidate, the same process outlined in Article V Section 1 will be repeated with a timeline provided by the EC.
To remove an officer from the Executive Council, the officer must meet with the rest of Executive Council to be informed why there is a motion for removal. The officer will have a chance to answer questions and give an explanation of why he or she opposes the motion. Then the Executive Council will vote, and the officer will be removed if the vote is unanimous. The member will still have his or her active brother status pending completion of active member requirements; a separate vote would occur in order for the member to be removed from the fraternity. The Co-President can call an election at the next chapter to fill the vacant position. If an officer misses more than two excused EC meetings, or more than one unexcused EC meeting this will trigger a 2/3 vote by the rest of the EC to remove them from EC. Absences will be voted on at the Executive Council meeting and will be deemed excused with a two-thirds vote.
All election results are final. The person elected is the candidate the majority of the chapter sees as the best candidate for the position. The election winner cannot be removed prior to transitions, unless they decide to step down. Under no circumstance should an elected council member be asked or pressured to give up their position unless they are not fulfilling the specific duties of their position. Under this circumstance the procedure outlined in Section 2 should be followed.
Article VI – Organizational Structure
The Executive Council consists of each of the officers listed in Article IV. The Co-Presidents are the formal leaders of the organization, and the Vice Presidents and Directors are next in the hierarchy in that order.
Each VP and Director position on the Executive Council has its own committee to assist in fulfilling the duties of the position.
Article VII – Advisor
Our advisor will not be an initiated member of the fraternity and will not have voting rights. The advisor will be invited to attend selected events and speakers, but it is not required for him or her to attend. An advisor must be a Drake University faculty or administrative staff member. The advisor will be selected by the Executive Council, and the staff member must agree to fill the position.
Article VIII – Meetings and Procedures
There must be a least one chapter meeting and at least two Executive Council meetings per full month of school.
A member must notify an Executive Council member at least 24 hours in advance to a mandatory event or meeting about being absent. Absences from chapter must be made up by meeting with a member of the Executive Council to receive a summary of the meeting.
Two-thirds of all active brothers must be present for a vote to occur. A majority vote is required for issues relating to group’s operation issues. A two-thirds vote is required for issues relating to the constitution. Inactive members and pledges cannot vote.
The Co-Presidents will lead chapter meetings. The meetings will begin with the chapter rituals and then move into position reports. Each Executive Council member will give a report describing upcoming events or news relevant to his or her position.
A transitional meeting will occur after elections and at least one week before the end of the school year. The transition will include a one-on-one meeting between the outgoing and incoming officers, Two-on-one meetings with the co-presidents to create goals for the break, and holding a meeting with the new Executive Council.
Article IX – Finance
Dues and membership fees will be $100 unless otherwise determined by EC.
Membership fees will be spent on membership events, recruitment activities, and furthering the professionalism of the fraternity. The VP of Finance will be responsible for keeping track of the funds. A report from the VP of Finance must be presented at least once per month at an Executive Council meeting. Only the VP of Finance and Co-President will have the power to write a check on behalf the fraternity. The Executive Council will sign a finance contract, stating it will use its budgeted funds for the rightful purpose of the fraternity and will not spend more than is deemed necessary.
Article X – Non-Campus Affiliation
We are affiliated with Gamma Iota Sigma.
Article XI – Amendments-Methods of Adoption
All amendment proposals must be submitted at least 48 hours before the next chapter meeting. The Executive Council will explain the proposal to the fraternity. Three-fourths of all active members must be present, and a two-thirds vote is required to pass the amendment.
Article XII – Organization Agreement
This organization agrees to abide by Iowa State Code 708.10 regarding hazing. Furthermore, the organization agrees to abide by all policies as outlined in the Student Handbook, to check the organization’s mailbox regularly, to communicate via email request, and to update the organization’s records whenever there is a change.
Article XIII – Bylaws
Section 1. Amendments to Bylaws
Material changes to the organization bylaws must be approved by a two-thirds vote of the Executive Council.
Section 2. Chapter Meetings
There will be at least eight chapter meetings each semester that are mandatory for all members to attend. Members who cannot attend chapter must meet with an Executive Council member to receive the updates from the meeting and make up the absence. Chapter dress code will be business casual except for Activation and Initiation where the dress code is business professional. Graduation dress code is nice casual. During elections and other special events, the Executive Council can vote on the dress code. Chapter meetings will begin with the Chi Chapter song and affirmation of commitment to the values of the fraternity with the exception of the chapter meetings between Activation and Initiation when the pledge members are not yet exposed to the ritual of the fraternity. After the beginning ritual of chapter, Executive Council members will give reports and have the option to plan a social activity for the end of chapter.
Section 3. Dues and Finance
Each member must pay the dues specified in Article Ix, Section 1 to remain active and have the right to attend the organization’s events. The new members pay more during their pledge semester to reflect the higher membership fee charged by grand chapter for the first semester of membership. Dues will be spent on social events, gifts for active members, attendance of the International Conference, and any other activities that support the core values and mission of the fraternity.
Section 4. Events
In addition to chapter meetings and rituals such as Activation and Initiation, the Executive Council will plan presentations from industry professionals, student-led professional development sessions, community service events, and social events. The Executive Council can give members event credit for attending select events hosted by the Actuarial Department independent of Gamma Iota Sigma or other organizations decided on by the Executive Council. The Executive Council should offer at least 35-40 opportunities for members to meet an event requirement. For mandatory events or requirements, any inquiries submitted to the Gamma email after that week’s EC meeting must be discussed in the GroupMe chat. A final decision in regard to the situation must be given to the member before the event occurs. The ruling will be given to the member based on a majority vote. However, if there is not a unanimous decision by the EC during the GroupMe voting, then the precedent will be discussed at the next EC meeting.
Section 5. Co-President Interviews
As outlined in Article V of the Constitution, the Executive Council members (except those running for the position) will interview the Co-President applicants. The interviews will be scheduled one week after the deadline. Each applicant will be scheduled for a 30-minute
interview. The first five minutes of the interview are allocated to the applicant to give his or her case as to why he or she wants to be and is qualified to be the next Co-President. The remaining 25 minutes of the interview are allocated for the interviewers to ask questions of the candidates. The interviewers will meet ahead of time to coordinate their questions and outline the criteria for choosing the next Co-President. The interviews will be open to non-EC members (excluding other candidates) however non-EC members will not be allowed to intervene, ask questions, or make comments during the interview. After the interviews, the interviewers will meet to deliberate and evaluate each candidate, and will present these evaluations to the chapter before the chapter discusses and votes.
Section 6. Member Data, Surveys, and Metrics
The Executive Council must collect information from the members at the beginning and end of each semester to keep current records and measure the progress of the organization toward its long-term strategic goals. The spreadsheet that records membership data and calculates metrics must be updated each semester from the Beginning of Semester Survey, Graduating Senior forms, and internal information regarding event attendance. The Beginning of Semester Survey is required for all Active members to fill out prior to the first chapter meeting, and the number of participants in the survey will be the number of members used for tracking metrics that semester. The metrics spreadsheet details each piece of information that must be gathered during the Beginning of Semester Survey and Graduating Senior form, so those surveys must be designed to collect all the necessary information. The Graduating Senior form must be filled out by all graduating seniors for them to be eligible to participate in the graduation celebration.
Section 7. Personal Extenuating Circumstances
The executive council reserves the right to manage personal extenuating circumstances on a case by case basis. Such decisions made must clearly outline how the Executive Council’s management of personal extenuating circumstances will improve the five core competencies of the person in question. The decision and its bases must be communicated clearly to the individual in question.