PIEDMONT SILVER EAGLES CHARITABLE FUNDS, INC.

CONSTITUTION AND BY-LAWS

OCTOBER 19, 2005

ARTICLE I

Name and Location

Section 1.    The name of the Association shall be Piedmont Silver Eagles Charitable Funds, Inc.

Section 2.    The Home Office of the Association shall be that of its Principal Officer or as designated by the Board of Directors.

ARTICLE II

Object

Section 1.     The objective of the Association is to contribute to the community and for those less fortunate, and to assist financially with Humanitarian Funds, Scholarship Funds, and Captain’s Fund.

Section 2.     The Association is a non-profit organization as identified by the State of North Carolina and the Internal Revenue Service code as identified by the 501 (c) (3) and it is a wholly owned subsidiary of Piedmont Silver Eagles, Inc.

ARTICLE III

Board of Directors

Section 1.     The Association shall have a Board of Directors consisting of not less than seven (7) Board Members.  The elected officers shall each be a member of the Board of Directors.  At least one of the Board Members shall come from an outside source and have no affiliation with the Piedmont Silver Eagles, Inc. or Piedmont Silver Eagles Charitable Funds, Inc.

Section 2.     The Board of Directors shall be appointed for a two-year term.  The PSEI Executive Board shall appoint said member. As described in PSEI By-laws Article III, Membership, Section 5.

Section 3.     All Officers shall be nominated and elected from the Board of Directors of the Piedmont Silver Eagles Charitable Funds, Inc.

Section 4.     The officers shall consist of Chairman of the Board, President, and Executive Vice President, Vice President, and Secretary and Treasurer.

Section 5.     The Chairman of the Board or a simple majority of the Board of Directors shall call a Board of Director meeting.  Said meeting shall be held either in person or by electronic means, by conference call or polling by the Chairman or President.

 ARTICLE lV

Ways and Means

Section 1.     The Board of Directors should vote on all fundraising activities.  Said vote can be received by telephone or other electronic means and shall be determined by a simple majority.

Section 2.     Funding for the different categories, Humanitarian Fund, Scholarship Fund, and Captain’s Funds shall be determined by the Board of Directors.

Section 3.     Any Board of Directors can initiate raising funds from outside sources. Any Board of Director shall appoint or have any one assist in said fund raising.  After determination the Board of Directors shall vote on said fund raising.

ARTICLE V

Recipient of Funds

Section 1.     Anyone having good cause shall bring the request of such worthy cause to the Board of Directors.

Section 2.     In order to receive these funds, the recipient need not be a member of the Piedmont Silver Eagles, Inc. or any affiliate thereof and may be other Charitable Corporations or Charitable groups.

Section 3.     All requests shall be made to the Secretary of the Piedmont Silver Eagles Charitable Funds, Inc. and said Secretary shall bring the request before the Board of Directors within 30 days.

Section 4.     An emergency request can be made to any Board of Director; said request shall be expedited within three days.

Section 5.     The Board shall establish a sliding scale based upon funds available, the maximum and minimum that a Recipient may receive.

Section 6      All Piedmont artifacts loaned or deeded to the PSECFI will be maintained in a Museum.

ARTICLE VI

Purpose of By-Laws

Section 1.     The purpose of these By-Laws is to give guidance to the Piedmont Silver Eagles Charitable Funds, Inc and to establish rules and guidelines to the Board of the Piedmont Silver Eagles Charitable Funds, Inc.

Section 2.     These By-Laws may be amended by a two thirds (2/3) vote of the Piedmont Silver Eagles Charitable Funds, Inc. Board of Directors.

Section 3.     No By-Law shall be made to conflict with the Piedmont Silver Eagles, Inc.

Article VII

Parliamentary Authority

Section 1.     Parliamentary Authority shall be Roberts Rules of Order for conducting business and the rights of the Members.