14.1 Waiver of Notice
Whenever any notice is required to be given to any Councillor or other person under the provisions of Ohio law, the Articles of incorporation, or these Bylaws, a waiver thereof in writing signed by the person entitled to such notice, whether before or after the time stated herein, shall be equivalent to the giving of such notice.
A certified public accountant may be employed by the Council to audit the books of the Association for each fiscal year and at such other time or times and for such other periods as the Council may deem advisable, and to furnish reports on such audits and make available an annual report of audits completed.
14.3 Prohibition Against Sharing in Association Earnings
No Councillor, officer, employee, or agent of, or person connected with, the Association or any other private individual shall receive at any time any of the net earnings or pecuniary profits from the operations of the Association, except that the Council may employ and pay any person reasonable compensation for services rendered to or for the Association in effecting any of its purposes.
14.4 Exempt Activities
Notwithstanding any other provision of these Bylaws, no Councillor, officer, employee, agent, or other representative of the Association shall take any action or carry on any activity by or on behalf of the Association not consistent with the exempt status of organization described in Section 501(c)(3) of the Internal Revenue Code of 1954, as amended (or the corresponding provision of any future United States Internal Revenue law).
14.5 Fiscal Year
The fiscal year of the Association shall begin on the first day of January and end on the last day of December in each year.
The Association shall indemnify, to the full extent permitted by the laws of the State of Ohio, any Council member, officer, employee, or agent of the Association against expenses actually and necessarily incurred in connection with the defense of any action, suit or proceeding in which such individual is made a party by reason of being or having been such Councillor, officer, employee, or agent, except that the Association shall not indemnify such individuals for wilful misconduct. Such indemnification shall not be deemed exclusive of any other rights to which such Councillor, officer, employee, or agent may be entitled under any agreement, vote of the Council, or employee, or agent may be entitled under any agreement, vote of the Council, or otherwise.
The Association may purchase for such directors and officers liability insurance as the Council may from time to time deem advisable.