1. Membership

• Membership to NABAN can be obtained by invitation or application. The prospective member will only be accepted to join NABAN if 51% of the NABAN Executive Committee agrees to do so.
• NABAN can decline the admission of a prospective member without providing any reasons.
• All members will receive a signed copy of NABAN’s constitution.
• All members will provide their relevant identification details (certified copy of ID and any other relevant documents) to the Secretary of the Executive Committee.
• NABAN membership shall comprise natural persons and legal entities as well as other investment clubs who have resolved to join NABAN.

2.Meetings

• NABAN will convene one annual general meeting where matters which require voting by members will be discussed. 
• Members of NABAN will elect an appropriate day and time to hold club meetings. The dates and venues of the meetings may only be changed if the majority of the members agree to the changes. All members will be given a minimum of five days’ notice of meeting dates and venues.
• NABAN meetings will take place at dates and times as decided on by the Executive Committee. Special or emergency meetings may be scheduled by the Executive Committee as and when necessary.
• At least 51% of members must be present for a meeting to take place and decisions to be made about matters relating to NABAN.
• If, for whatever reason, a member is unable to attend a meeting, a written apology must be submitted to the Club Secretary.
• Every member shall have one vote.  The Chairperson will be entitled to a second or casting vote in the event of an equality of votes.

3.Annual Membership Fee

• All members of NABAN will deposit an annual membership fee of N$2,500 into the bank account of NABAN. 
• The membership fee amount shall be decided on at the AGM, should there be any change.
• Upon joining, a member is liable to pay their fee regardless of when the member joins during the year. All membership fees must be deposited into the NABAN bank account on or before the end of the first month of the NABAN financial year except if the member joins during the year. 
• Failure to pay the joining fee will mean that the member will not be invited to participate in investment opportunities and their membership to NABAN will be terminated after three months.

4.Investment Opportunities & Commitment

• NABAN members shall have access to investment opportunities presented to them through NABAN.
• NABAN members shall invest as individuals or co-invest as a syndicate into various investment opportunities presented.
• NABAN members shall decide if the investment will be member-managed or manager-managed.
• NABAN shall organise quarterly investor events where potential investee companies shall present viable propositions for angel investment.
• NABAN members shall be allowed to refer investee companies for investment, including investee companies they have an interest in for investment.
• NABAN members shall commit to invest a minimum amount into investment opportunities presented to them through NABAN during a financial year.
• The minimum annual investment amount shall be determined at the NABAN AGM.
• Failure by a NABAN member to invest the annual minimum amount into investment opportunities presented to them by NABAN in a financial year shall lead to their membership being terminated.
• Members shall be given an opportunity to appeal their membership termination with the executive committee. If the executive committee determines that the member has a justifiable reason for not investing the annual minimum committed amount their membership may be reinstated.