XIV. Property and Funds of the Association

  1. The Association has in its property funds and other assets necessary to carry out its statutory activity and has the right to pursue any actions concerning its property in accordance with statutory tasks and the laws of Ukraine.

  2. Sources of formation of funds and property of the Association are as follows:

    1) funds or property transferred by the Members of the Association;

    2) entrance and membership fees, and targeted contributions of the Members of the Association;

    3) non-repayable financial assistance or donations;

    4) charity, grants of Ukrainian and foreign enterprises, institutions and organizations, and natural persons;

    5) income from business and other activity established by the Association enterprises and organizations;

    6) other sources not prohibited by the legislation of Ukraine.

  3. The Association is entitled to own property, vehicles, equipment, inventory, property for educational and recreational purposes, funds, stocks and other security papers, other property and other non-property rights necessary to ensure the activity of the Association.

  4. The funds of the Association shall be used for achievement of the statutory tasks.

Ukrainian maritime bar association