Rules for updating an addendum


(Victims of Hurricane Isabel were granted a one-month extension of the GUST remedial amendment period that would have ended on or after September 18, 2003 – the new deadline is November 18, 2003.) Accordingly: While plans may not be amended until the end of such period, they must still be operated in accordance with provisions that become effective before that time.

rules for updating an addendum-16

A "good faith" plan amendment includes the proper adoption of the IRS' sample amendments (see Notice 2001-57), plan amendments that are materially similar to the sample amendments, or plan amendments that are not materially similar to the sample amendments if they represent a reasonable effort to take into account all of the applicable EGTRRA requirements and do not reflect an unreasonable or inconsistent interpretation of the provision.

To be timely adopted, "good faith" EGTRRA amendments must be adopted by the later of (1) the end of the plan year in which the EGTRRA amendments are required to be, or are optionally, put into effect, or (2) the end of the GUST remedial amendment period (this includes the 91 day period following issuance of a favorable GUST letter).

When you’re amending parts of your bylaws, you propose the amendment as a main motion and specify one of the same processes you would for any amendment.

The processes of the motion to amend are A revision to bylaws is an extensive rewrite that often makes fundamental changes in the structure of the organization.

By considering a revision of your bylaws, you’re proposing to substitute a new set of bylaws for the existing ones.