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Articles of Incorporation


ARTICLE XVII: ADOPTION, AMENDMENT AND REPEAL OF ARTICLES

[Effective dates of amendments: April 14, 1983; February 7, 1986; September 8, 1987; January 1, 1990; October 16, 1992; October 15, 2001; April 1, 2013; May 19, 2014; and October 8, 2015.]

No provision of these Articles may be adopted, amended or repealed except in the manner prescribed in this Article. Each such proposed change to the Articles shall be reviewed by the Board, and shall be submitted to the Members of NFA only upon approval of the proposal by the Board by two-thirds of the Directors present and voting. If any such proposed change relates to Article III, Section 2, such proposed change shall not be considered by the Board for approval unless at least 60 days written notice of the proposed change has been given to each Contract Market Member. Upon such approval, the proposal shall be submitted to a vote of the Members and shall be adopted upon the affirmative vote of a majority of those Members that cast a vote in each of the categories set forth in Sections 2A(a)-2A(d) of Article VII.