RULE RELATING TO INSOLVENCY OF THE ASSOCIATION
(As adopted on the 9 August 2017 at the Association 2017 AGM)
"Member or Members"- Meaning a player of a registered team which participates and competes in the Jersey Bar Billiards League;
"Team"- Meaning a Team registered and competes in the Jersey Bar Billiards League; and
"Insolvent"-Meaning being unable to meet liabilities as they fall due.
Should the Association become in an insolvent position then all amounts due by the Association shall be borne by the Members.
The following actions of the Association Committee Members should be taken following the identification of insolvency of the Association.
1.Notice of an Extra Ordinary General Meeting of the Association to be given within 7 days to all Members;
2.Extra Ordinary General Meeting of the Association to be convened and held to deal with matters pertaining to insolvency;
3.Members to be advised of their percentage liability relation to outstanding debts of the Association; and
4.Following settlement of all outstanding liabilities of the Association the Association should be terminated and dissolved.