Article I – Name
The name of the organization shall be the Private Equity CFO Association.

Article II – Purpose of Association
The primary purpose of the Association is to provide for networking and communication among members. The Association shall not exchange confidential information that will jeopardize the economic situation of any firm.

Article III – Membership
Membership in the Association shall be limited to the senior level financial professional responsible for the financial and/or operational management of private equity, venture capital and fund of funds firms. At the request of firms with $4B or more of assets under management, or with the approval of the Chapter’s Board of Directors, a second senior financial professional in a firm may be considered for membership.

The Association is not intended for investment managers, investment bankers or industry consultants. Membership is not open to vendors and other professionals in the field including attorneys or accountants with the exception of Advisory Board firms approved by the Chapter’s Board of Directors.

The first Chapter of the Association was established for the greater Boston area in the fall of 2001, followed by the New York Chapter in 2002, the Philadelphia Chapter in 2003, the Washington, D.C and Midwest Chapters in 2004, the West Coast Chapter in 2005 and the Dallas/Ft. Worth, and Houston Chapters in 2014. Additional chapters may be established based on market demand.

Article IV – Chapter Board of Directors and Executive Director
General control of the meetings, activities, membership, and programs of each Chapter shall be vested in the Chapter’s Board of Directors. Each Board is responsible for setting policy and direction for its Chapter, Chapter membership, and the content and frequency of Chapter meetings. The Chapter Executive Director will be responsible for implementing the decisions of the Board.

Each Chapter board shall consist of up to nine Directors, each new member to be approved by the Board by majority vote. No individual shall serve as a Director for more than 1 term (three years). Each Board should establish succession planning such that no more then one-third of the Board rotates off in any one year.

Article V – National Executive Director
The National Executive Director will be responsible for the implementation and management of any national Association activities, including any national conference, salary survey, or similar national Association activity, the management and maintenance of the Association’s web site, and the screening and admittance of any new members.

Article VI – Membership Meetings
Membership meetings will be held three to four times a year or at the discretion of each Chapter’s Board. The Board members will rotate presiding over such meetings.

The Chapter Executive Director will coordinate the time and location of membership meetings and board meetings, and periodically provide the attendees with a survey seeking comments and feedback. Also, the Chapter Executive Director will post the presentations on the website when material is available from the panelists.

Article VII – Committees
The National Executive Director may, from time to time, establish committees for specialized segments of the private equity industry or for specific events and programs. The frequency of committee meetings will be determined by their members.

Article VIII – Amendments
These by-laws may be amended only by a majority vote of all of the Chapter boards.

Article IX – Use of the Private Equity CFO Association Name
The use of the Association’s name or trade name in the marketplace by third parties other than Citizens Financial Group as corporate sponsor will be subject to the advice and consent of Citizens Financial Group and all of the Chapter Boards.