Assets

12.09.01 The assets of a Local Union are the exclusive property of the Local Union.

12.09.02 Membership in a Local Union shall not vest in any member any right, title or interest in the funds, property or other assets of the Local Union or the National Union.

12.09.03 In the event of a Local Union being disbanded the assets may only be disposed of by a majority membership vote at a duly constituted meeting provided at least thirty (30) days notice has been given.