method results in exactly the same valuation as previously provided herein. Each partner's contribution to, or capital withdrawal from, the partnership shall be credited, or debited, respectively, to that partner's capital account.

9.  Management.  Each partner shall participate in the management and conduct of the affairs of the partnership in proportion to his capital account.  Except as otherwise determined, all decisions shall be made by the partners whose capital accounts total a
majority of the value of the capital accounts of all the partners.

10.  Officers.  The Senior Partner, Junior Partner, Recording Partner, and the Financial Partner will be elected annually during the regular December meeting.  The newly elected officers shall assume the duties of their respective offices at the January meeting of each year.  Officers may succeed themselves in the same office.

It shall be the duty of the Senior Partner to preside at meetings; appoint a  parliamentary; appoint committees; and oversee club activities.

The Junior Partner shall assume the duties of the Senior Partner when the Senior  Partner is absent or temporarily unable to carry out his/her duties.  In addition, the  Junior Partner will be responsible for the educational program of the partnership.

The recording Partner shall keep a record of club activities and report on previous  meetings.

The Financial Partner shall place, buy and sell orders on instruction from the  partnership; collect and disburse funds; maintain a set of books covering the club's  financial operations, assets, and members' shares; and issue receipts to partners for  their deposits.  He/she shall prepare and annual statement of liquidating value and  prepare and submit proper tax forms.

11.  Sharing of Profits and Losses.  Net profits and losses of the partnership shall inure to, and be borne by, the partners, in proportion to the value of each of their capital accounts.

12.  Books of Account.  Books of account of the transactions of the partnership shall be kept and at all times be available and open to inspection and examination by any partner.

13.  Annual Accounting.  Each calendar year, a full and complete account of the condition of the partnership shall be made to the partners.  Such annual accounting report shall be presented at the January meeting.

14.  Bank Account.  The partnership may select a bank for the purpose of opening a bank account.  Funds in the bank account shall be withdrawn by checks signed by any partner designated by the partnership.