Constitution and By-Laws Article 1 - Name This organization shall be known as "The Loss Executives Association" (LEA). Article 2 - Objective The LEA is dedicated to furthering the advancement and education of the property loss professional and provides a means and forum in which current issues can be discussed and examined. Article 3 - Membership 1. Membership shall consist of Regular, Associate, Emeritus and Retired members. 2. Regular membership shall be limited to experienced property loss personnel of insurance companies and their trade associations. A Regular member may hold office and vote. 3. Associate membership: * Experienced property loss personnel of properly licensed independent adjusting firms, with no limitation as to the number of members in the Association. * Personnel of property defense legal firms, CPA firms, salvors, property oriented engineering firms and other service firms, which regularly provide technical services to the property claims industry. Determination of eligibility within this group resides within the sole discretion of the Executive Committee. Members from each firm qualifying in this category shall be limited to two representatives. * Associate membership shall not include voting privilege or eligibility to hold office. 4.Emeritus membership may be conferred upon former Regular or Associate members of the Association with the approval and recommendation of the Executive Committee, and by a majority vote of the members at any regularly scheduled meeting, provided, however, that no Emeritus member shall be eligible to retain this distinction or be privileged to attend the meetings of the Association, if, after his/her election, he/she becomes associated with the insurance business in any capacity conflicting with the qualifications set forth under sections 2 and 3 of the article of the By-Laws. Emeritus membership shall not be eligible to vote or hold office. 5. Retired membership shall be limited to former Regular or Associate members who have been a member in good standing for a consecutive period of at least two years prior to their retirement from active employment in the insurance industry. No Retired member shall be eligible to retain this distinction or be privileged to attend the meetings of the Association, if, after his/her election, he/she becomes associated with the insurance business in any capacity conflicting with the qualifications as set forth.