Article 9.- Notice of the Assembly meetings will be made no later than one month before their occurrence and will be signed by the Chairman, in his/her absence by the Vice Chairman or by delegation, by the Secretary General, with specification of the Agenda to be discussed and the date, time and place where it will be held. The notice will be sent to each Associate Member and Collaborator Member by facsimile or electronic mail, confirmed in writing or in person to the domicile registered in the Registry Book of the Association.

Assemblies will be legally valid with the presence of any number of representatives of Associate Members. Except for purposes of Articles 22 and 23.

Article 10.- The powers of the Assembly are as follows:

a) Approve and modify the Association's by-laws;

b) Determine the amount and means of payment of the Associate and Collaborator Members contributions;

c) Decide on the admission of new Associate Members;

d) Elect the Chairman and Vice-Chairman of the Board of Directors;

e) Access to reports, deliberations and resolutions of the Board of Directors and the Secretary General regarding the activities, programs and budgets of the Association;

f) Approve the annual audited financial statements according to its own standards and the Annual Report of the Board of Directors. The Assembly is empowered to request from the auditing firm any information, at any time; and

g) Any other powers stemming from the application of these by-laws.

Approved on IX Annual Assembly Meeting 3 of 9 ASSOCIATION OF SUPERVISORS OF BANKS OF THE AMERICAS A.C. BY-LAWS

Article 11.- Resolutions of the Assembly will be approved by a majority of votes of the Associate Members present, except as stated in articles 22 and 23. Each Associate Member will have the right to be heard in the deliberations and will have one vote per country. An Associate shall have the right to vote if and only if it is up to date with its contributions to the Association.

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