RESIGNATION/TERMINATION OF MEMBERSHIP

WHEN DOES TELESCOOP MEMBERSHIP END OR TERMINATE


I. Active Payroll Members

Regular membership in TELESCOOP is co-terminus with the employment service of a member. In order that a member may be entitled to retirement benefits, he must have completed five (5) years continuous membership and must be both separated from employment service and membership with TELESCOOP.



II. Non-Payroll Members

Regular membership with TELESCOOP for Non-Payroll Members is terminated by death or voluntary resignation.


Generally, Regular membership with TELESCOOP ends or terminates:


1. Upon the death, insanity and permanent incapacity or judicial declaration by a competent court

    of the insolvency of a member (Automatic Termination).

2. Upon resignation or withdrawal of his membership subject to a 60-day prior written notice to

    the Board of Directors (Voluntary Termination).

3. Upon a majority vote of the Board of Directors terminating the membership of a member for

    committing any of the following (Involuntary Termination):


        a. Not patronizing the products, services and businesses of TELESCOOP for more than 12

            months.

        b. Fails and continuously fails to comply with his obligations

        c. Violating any provision of the By-Laws and rules of TELESCOOP

        d. Any act or omission injurious or prejudicial to the interest or welfare of TELESCOOP