ARTICLE 1 – NAME OF THE ORGANIZATION

The name of this chapter shall be the Lambda Alpha Chapter of Beta Alpha Psi at the University of Kansas, Lawrence, Kansas.

ARTICLE 2 – OBJECTIVES AND PURPOSES OF THE CHAPTER

Beta Alpha Psi is an honorary and professional organization for accounting, finance and information systems majors. Its stated purpose includes recognizing scholastic and professional excellence in the fields of accounting, finance, or information systems with the provision of opportunities for self-development and association among members and practicing business professionals; and encouragement of a sense of ethical, social, and public responsibility. 

ARTICLE 3 – MEMBERSHIP

Since a major objective of Beta Alpha Psi is to encourage and give recognition to scholastic and professional excellence, the following membership requirements have been established: 

• Members must be admitted to the School of Business during the current semester. 
• Members must be majoring in accounting.
• In order to be a candidate, students must have completed, in addition to two years of collegiate courses, at least one intermediate accounting course (ACCT 320 – Financial II or ACCT 325 – Managerial II).
• Members must have a grade point average of at least a 3.0, or
• a rank within the top 35% of university classes, or
• at least a 3.25 cumulative grade point average on the most recent 30 semester hours
• Members must attend the initiation banquet.  
• Members must participate in some BAP sponsored community service activities.
• Members must pay all required dues. 
• Members can miss no more than one meeting a semester. 

Each semester, all members will be awarded a status level based on their participation with chapter activities during that semester. Status levels are outlined at the beginning of each semester in the membership information booklet distributed at the informational meeting.

A member status report indicating achievement of a particular status level will be presented at the initiation banquet and sent to recruiters at the end of each semester. Students meeting the “inactive” status level will not be included in these distributions.

ARTICLE 4 – MEETINGS FOR THE CONDUCT OF BUSINESS

All active participants fulfilling the basic requirements for membership shall be permitted to vote in chapter elections and on chapter issues. One-half of the chapter’s active participants shall constitute a quorum.

The executive committee shall consist of the chapter officers and the faculty advisor.  One-half of the executive committee shall constitute a quorum.

ARTICLE 5 – STUDENT OFFICERS

Chapter offices include the president, vice-president of professional programs, vice-president of reporting, vice-president of finance, and one or more community service coordinators. A listing of officer responsibilities is included at the end of the bylaws.

Chapter offices shall be held for one academic term. Current officers may choose to continue for an additional term without having to run for office again. Toward the end of the academic term, an election shall determine the officers needed for the following term.  Members may nominate themselves, or members may nominate other members.  All members are permitted to run for office. Members must be initiated by the beginning of their office term. Preferably, the President will have been a former officer.

Active participants in the chapter shall select the officers.  The candidate who receives a simple majority of the votes will be awarded the office. If an officer decides to resign, he or she may do so through written notification. Removal of an officer is accomplished through a simple majority of the executive committee. Shall a vacancy occur, the executive committee shall select a committee chair to fill the empty position.

ARTICLE 6 – FACULTY ADVISOR

A new faculty advisor shall be selected by vote of the chapter based on recommendations from the outgoing faculty advisor and the accounting, finance or IS department chair(s).  The faculty advisor shall: provide counsel and assistance to the chapter, its officers, its executive committee, and other committees; verify the appropriateness of the content of reports submitted to the Executive Office and serve as liaison with the Executive Office; serve as liaison with the administration of the University, School of Business, and department of accounting, finance or IS; and assure continuity of the chapter.

ARTICLE 7 – FISCAL YEAR

The fiscal year of the chapter will end on May 31.

ARTICLE 8 – AUTHORITY

These bylaws shall be the principal governing document of the Lambda Alpha Chapter of Beta Alpha Psi. These bylaws will be subordinate to the National Constitution and Bylaws of Beta Alpha Psi. Any provision of this document that conflicts with the National Constitution and Bylaws of Beta Alpha Psi that is currently in effect will be rendered null and void.

ARTICLE 9 – REQUIREMENTS FOR AMENDMENT TO THE BYLAWS

Three-fourths of the membership must be in agreement to cast an affirmative vote to alter a bylaw. This is to avoid an over-reaction to an unusual event.

BETA ALPHA PSI OFFICER RESPONSIBILITIES

PRESIDENT

• Presides at all meetings.
• Organizes and oversees committees.
• Prepares qualifications and requirements for each semester.
• Oversees food and beverages for professional meetings.
• Organizes semester initiation banquet..

VICE PRESIDENT OF PROFESSIONAL PROGRAMS

• Prepares the schedule for each semester.
• Plans the Fall/Spring firm networking events.
• Fills in if President is absent.

VICE PRESIDENT OF REPORTING

• Prepares beginning of year and end of year reports.
• Reports chapter activities to BAP national office.
• Prepares attendance sheets for meetings.
• Keeps track of all active members and updates Blackboard.

• Keeps all financial records.
• Collects all dues and payments.
• Approves all purchases and pay all bills.
• Prepares financial reports for the national organization.

COMMUNITY SERVICE COORDINATOR

• Organizes all BAP-sponsored community service projects.