 |
VI. Assets, Currencies and Liability Redemptions
|
|
| |
6.2. Asset Underwritten Currencies |
|
| |
Article 96- Union Sovereign Currency Accounts |
|
| 96.1 |
Union Sovereign Currency Accounts |
|
| |
All members are given a Union Currency Account for each of the six types of Sovereign Currencies of the Society, whether they have Currency in those forms or not. |
|
| 96.2 |
Monthly Account Statements |
|
| |
The Bank shall provide monthly Account Statements on all Union Sovereign Currency Accounts for Members with these Accounts publicly viewable. No Member is permitted to have secret Accounts with the Bank. |
|
| 96.3 |
Instruments of Validation for any change to an Account |
|
| |
No change to the values or status of an Account is permitted without a valid Instrument. |
|
| |
For deposits, a valid instrument of deposit is any valid instrument recorded on the Union Currency Ledger, whether it is accompanied by a deposit form or not. |
|
| |
For withdrawals, a valid instrument of withdrawal represents a minimum of two instruments (1) a Withdrawal Payment Form used to re-issue a valid Union Currency Instrument and (2) the re-issued Union Currency Instrument in the name of the intended beneficiary. |
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
| |
Copyright © 2010 Africans-Union-Bank.Org All rights reserved.
|