Post by Admin on Aug 29, 2018 17:30:12 GMT
ALL PERSONS OR PARTIES, UPON CREATION OF AND / OR ACTING IN THE PLACE OF A MEMBER DO THEREBY AGREE TO ALL TERMS AND CONDITIONS HEREIN, UNDERSTANDING THAT THESE TERMS AND CONDITIONS MAY AT ANY TIME CHANGE WITH OR WITHOUT NOTICE.
Micronations which cannot legally uphold this agreement are prohibited until their laws can allow this entire agreement.
This agreement is void where prohibited, and in such case, such persons and parties are excluded from membership.
Any disputes will be settled by the Central Bank as a sovereign government, except where prohibited, then they will be settled by the Central Bank as a party arbiter
All agreements made in lieu of, and all disputes and legal actions arising out of or appertaining to the Central Bank are in the original jurisdiction of the foreign state and prince of the Central Bank Authority.
If prohibited in the jurisdiction of the undertaking of such legal actions, disputes, or agreements, the aforesaid notwithstanding, any such disputes arising out of or appertaining to the Central Bank are subject to the final and exclusive arbitration of the Central Bank Authority.
Malicious acts will be punished once by a fee, and subsequently by any punishment up to and including banishment
Any party which acts in misconduct with or otherwise adversely to these terms and conditions shall be punished on the first such occasion by a fine to be imposed by the Central Bank. On any subsequent occasion, any punishment may be imposed at the whole discretion of the Central Bank Authority up to and including permanent exclusion.
Theft and dishonest enrichment or deprivation are prohibited
No member shall act for the purposes of enriching or depriving himself or another party unfairly or maliciously.
All members have equal voice in suggesting the outcomes of bank decisions, and a 2/3rd's majority of comments on a decision will pass the decision
All actions on behalf of the Central Bank Authority as prescribed in these General Provisions shall be done only upon a due quorum of two thirds (2/3rd's) of the parties who duly subscribe their opinion whether such decision be done or not—except as such members may make no such decisions duly subscribed, or as decided by the Central Bank Authority.
The Central Bank shall create temporary currency by issuing loans
A party may, with the advice of the members of the Central Bank, be compensated in credits by the Central Bank Authority a sum in exchange for the rights to a debt owed to that party.
After such time as the Central Bank shall be reimbursed for value received of such loans, the currency in the amount of the principle shall be destroyed.
In exchange for credit, assets or stock in reliable businesses or banks may be sold to the Central Bank Authority in order to create honest currency
For value received in credit, assets or stock in reliable enterprises or banks may be sold to the Central Bank Authority; that is to say that such sale may also be used for the enrichment of debts.
Such dividends to which the Central Bank may be entitled as a result of the tenure of stock shall be payable to the Central Bank in the primary currency of the nation to which the stock appertains. (That is to say, the Central Bank shall not be paid its dividends in Central Bank Credits, it is not fair to the businesses who issue the stock)
Any sole proprietorship which shall have been purchased or surrendered to the Central Bank Authority shall not pay dividends, but shall permit the Central Bank Authority as a member to hold no more than a sum of twenty-five percent (25%) of the net worth thereof in Central Bank credits, except as may be destroyed immediately, and of course to all financial benefits and debts as a sole proprietor. (That is to say, the Central Bank shall not receive more than a forth of the net worth of all of the businesses it owns at any given time in credits, unless to destroy the funds. This prevents the Central Bank itself from owning too much of the money supply.)
The Central Bank shall create honest currency by purchasing bonds in foreign governments
For value received in credit, a member that is a foreign government may sell bonds to the Central Bank for a price not to exceed two thousand five hundred credits (¤2,500).
Such bonds shall endure an age of one or two years and must pay interest in a sum of at least one forth of a percent per annum (0.25% per year).
Payment of interest in lieu of such bonds shall br payable in the official currency of the state from which the debtor resides, (That is to say, the Central Bank cannot make someone pay interest using Central Bank credits which have not been created.)
The Central Bank must be able to sell these stocks or bonds as any time as a replacement for Central Bank credits in a time of crisis, or so the Central Bank can pay off any debts
Any bond, stock, or assets sold to the Central Bank Authority must be freely marketable, that is to say, the Central Bank Authority must be able to, after purchasing said instrument, immediately sell said instrument to anyone for the repayment of the Central Bank Authority's debts.
Loans shall not exceed ¤1,000 for individuals, ¤5,000 for institutions, and ¤7,500 for governments
The Central Bank Authority shall not lend a principle sum: (A) to any single person of more than one thousand credits (¤1,000); (B) to any single body politic or corporation of more than five thousand five hundred credits (¤5,500); (C) to any single foreign state or prince of more than seven thousand five hundred credits (¤7,500).
Discount window loans may be issued at a fixed interest rate which may vary from time to time as necessary for the purposes of regulation.
Otherwise loans for the purpose of subsidy are available upon request on a case-by-case basis.
In exchange for credit, bonds may be paid to the Central Bank Authority in a member's country's own currency in order to create honest currency
The Central Bank may, in exchange for a member's country's own currency, issue a member credits in the amount appraised by the other members of the Central Bank.
The Central Bank Authority is designed to assist members in all cases of bankruptcy or insolvency
Any member which defaults a loan issued by the Central Bank Authority is automatically bankrupt according to these provisions.
Any member which is not capable of financially making whole the Central Bank Authority or another member or members may declare themselves bankrupt under these provisions.
A member that is bankrupt under these provisions shall have their liabilities subject to an auction, and the highest bidder shall purchase such debts from the members owed.
Subsequent actions may be taken as agreed upon between members owed and members holding debts in order to alleviate such debts, or as shall be imposed by the Central Bank Authority as can be agreed upon by the same.
Deposit insurance is available for banking institutions
Any member which is a banking institution may for a uniform monthly fee paid in each calendar month to the Central Bank Authority receive insurance to their depositors for a maximum of twice (200%) of their monthly fee to be compensated in lieu of each deposit. (Notice the word "deposit", and not "depositor".)
Such insurance shall only be available after the third payment has been made.
Such insurance shall be revoked after one aforesaid monthly payment has not be made within the calendar month after the previous one.
Banks must cooperate with each other and transfer credits to other members as may be required by their depositors
Banking institutions that are members shall accept all payments in credit given to their depositors by depositors from other member banks, and they shall issue such singular transactions or a periodical settlement, the time between which to be referred to as a settlement window, to such member banks of such debts as may condense from time to time on the behalf of their depositors.
Banking institutions whose depositors receive funds from a depositor or creditor of another member bank must make those funds available to the entitled depositor immediately, or within such uniform time as may be feasible and established.
Micronations which cannot legally uphold this agreement are prohibited until their laws can allow this entire agreement.
This agreement is void where prohibited, and in such case, such persons and parties are excluded from membership.
Any disputes will be settled by the Central Bank as a sovereign government, except where prohibited, then they will be settled by the Central Bank as a party arbiter
All agreements made in lieu of, and all disputes and legal actions arising out of or appertaining to the Central Bank are in the original jurisdiction of the foreign state and prince of the Central Bank Authority.
If prohibited in the jurisdiction of the undertaking of such legal actions, disputes, or agreements, the aforesaid notwithstanding, any such disputes arising out of or appertaining to the Central Bank are subject to the final and exclusive arbitration of the Central Bank Authority.
Malicious acts will be punished once by a fee, and subsequently by any punishment up to and including banishment
Any party which acts in misconduct with or otherwise adversely to these terms and conditions shall be punished on the first such occasion by a fine to be imposed by the Central Bank. On any subsequent occasion, any punishment may be imposed at the whole discretion of the Central Bank Authority up to and including permanent exclusion.
Theft and dishonest enrichment or deprivation are prohibited
No member shall act for the purposes of enriching or depriving himself or another party unfairly or maliciously.
All members have equal voice in suggesting the outcomes of bank decisions, and a 2/3rd's majority of comments on a decision will pass the decision
All actions on behalf of the Central Bank Authority as prescribed in these General Provisions shall be done only upon a due quorum of two thirds (2/3rd's) of the parties who duly subscribe their opinion whether such decision be done or not—except as such members may make no such decisions duly subscribed, or as decided by the Central Bank Authority.
The Central Bank shall create temporary currency by issuing loans
A party may, with the advice of the members of the Central Bank, be compensated in credits by the Central Bank Authority a sum in exchange for the rights to a debt owed to that party.
After such time as the Central Bank shall be reimbursed for value received of such loans, the currency in the amount of the principle shall be destroyed.
In exchange for credit, assets or stock in reliable businesses or banks may be sold to the Central Bank Authority in order to create honest currency
For value received in credit, assets or stock in reliable enterprises or banks may be sold to the Central Bank Authority; that is to say that such sale may also be used for the enrichment of debts.
Such dividends to which the Central Bank may be entitled as a result of the tenure of stock shall be payable to the Central Bank in the primary currency of the nation to which the stock appertains. (That is to say, the Central Bank shall not be paid its dividends in Central Bank Credits, it is not fair to the businesses who issue the stock)
Any sole proprietorship which shall have been purchased or surrendered to the Central Bank Authority shall not pay dividends, but shall permit the Central Bank Authority as a member to hold no more than a sum of twenty-five percent (25%) of the net worth thereof in Central Bank credits, except as may be destroyed immediately, and of course to all financial benefits and debts as a sole proprietor. (That is to say, the Central Bank shall not receive more than a forth of the net worth of all of the businesses it owns at any given time in credits, unless to destroy the funds. This prevents the Central Bank itself from owning too much of the money supply.)
The Central Bank shall create honest currency by purchasing bonds in foreign governments
For value received in credit, a member that is a foreign government may sell bonds to the Central Bank for a price not to exceed two thousand five hundred credits (¤2,500).
Such bonds shall endure an age of one or two years and must pay interest in a sum of at least one forth of a percent per annum (0.25% per year).
Payment of interest in lieu of such bonds shall br payable in the official currency of the state from which the debtor resides, (That is to say, the Central Bank cannot make someone pay interest using Central Bank credits which have not been created.)
The Central Bank must be able to sell these stocks or bonds as any time as a replacement for Central Bank credits in a time of crisis, or so the Central Bank can pay off any debts
Any bond, stock, or assets sold to the Central Bank Authority must be freely marketable, that is to say, the Central Bank Authority must be able to, after purchasing said instrument, immediately sell said instrument to anyone for the repayment of the Central Bank Authority's debts.
Loans shall not exceed ¤1,000 for individuals, ¤5,000 for institutions, and ¤7,500 for governments
The Central Bank Authority shall not lend a principle sum: (A) to any single person of more than one thousand credits (¤1,000); (B) to any single body politic or corporation of more than five thousand five hundred credits (¤5,500); (C) to any single foreign state or prince of more than seven thousand five hundred credits (¤7,500).
Discount window loans may be issued at a fixed interest rate which may vary from time to time as necessary for the purposes of regulation.
Otherwise loans for the purpose of subsidy are available upon request on a case-by-case basis.
In exchange for credit, bonds may be paid to the Central Bank Authority in a member's country's own currency in order to create honest currency
The Central Bank may, in exchange for a member's country's own currency, issue a member credits in the amount appraised by the other members of the Central Bank.
The Central Bank Authority is designed to assist members in all cases of bankruptcy or insolvency
Any member which defaults a loan issued by the Central Bank Authority is automatically bankrupt according to these provisions.
Any member which is not capable of financially making whole the Central Bank Authority or another member or members may declare themselves bankrupt under these provisions.
A member that is bankrupt under these provisions shall have their liabilities subject to an auction, and the highest bidder shall purchase such debts from the members owed.
Subsequent actions may be taken as agreed upon between members owed and members holding debts in order to alleviate such debts, or as shall be imposed by the Central Bank Authority as can be agreed upon by the same.
Deposit insurance is available for banking institutions
Any member which is a banking institution may for a uniform monthly fee paid in each calendar month to the Central Bank Authority receive insurance to their depositors for a maximum of twice (200%) of their monthly fee to be compensated in lieu of each deposit. (Notice the word "deposit", and not "depositor".)
Such insurance shall only be available after the third payment has been made.
Such insurance shall be revoked after one aforesaid monthly payment has not be made within the calendar month after the previous one.
Banks must cooperate with each other and transfer credits to other members as may be required by their depositors
Banking institutions that are members shall accept all payments in credit given to their depositors by depositors from other member banks, and they shall issue such singular transactions or a periodical settlement, the time between which to be referred to as a settlement window, to such member banks of such debts as may condense from time to time on the behalf of their depositors.
Banking institutions whose depositors receive funds from a depositor or creditor of another member bank must make those funds available to the entitled depositor immediately, or within such uniform time as may be feasible and established.