BY-LAWS OF CYSTIC FIBROSIS WORLDWIDE, INC.. ARTICLE V-VII.


	BY-LAWS OF CYSTIC FIBROSIS WORLDWIDE, INC.. ARTICLE V-VII. ARTICLE V NOTICES Section 1. Notices. Except as otherwise specifically provided herein or required by law, all notices required to be given to any Member, director, officer, employee or agent, shall be in writing and may in every instance be effectively given by hand delivery to the recipient thereof, by depositing such notice in the mails, postage paid, by transmitting such notice by facsimile or similar means of electronic transmission or by sending such notice by Federal Express or other similar private carrier providing evidence of delivery. Any such notice shall be addressed to such Member, director, officer, employee, or agent at his or her last known address as the same appears on the books of the corporation. The time when such notice is received, if hand delivered, or dispatched, if delivered through the mails, or by private carrier, shall be the time of the giving of the notice. Section 2. Waivers. A written waiver of any notice, signed by a Member, director, officer, employee or agent, whether before or after the time of the event for which notice is to be given, shall be deemed equivalent to the notice required to be given to such Member, director, officer, employee or agent. Neither the business nor the purpose of any meeting need be specified in such a waiver. ARTICLE VI FINANCIAL RESOURCES Section 1. Financial Resources. The financial resources of the Corporation shall consist of the following: (i) membership dues; (ii) contributions; (iii) proceeds from lectures, courses and publications; (iv) sponsorships; (v) assets inherited or received as a bequest or legacy and gifts; and (vi) any other incidental income. Section 2. Membership Dues. Each Member, other than individuals affected by cystic fibrosis, shall pay membership dues, the amount of which shall be set annually by the Members at the annual meeting. To that end, Members can be placed in different classes that are required to pay different membership dues. ARTICLE VII ACCOUNTING Section 1. Records. The Board of Directors shall be required to keep accounting records of the financial position of the Corporation in such a way that its rights and obligations are known at all times. Section 2. Annual Report. The Board of Directors shall present the Corporation’s annual report, and render account of its management in the past financial year at the Annual Meeting of Members. Section 3. Accountant. Each year, no later than ninety days before the Annual Meeting, the Members shall elect an independent accountant who is not a member of the Board of Directors. The aforesaid accountant shall audit the report and accounts prepared by the Board of Directors and present a written report on his or her findings. The Board of Directors shall be required to furnish such accountant with any information he may require and to allow him or her to inspect the cash position, the assets and the books and records of the Corporation upon request.