Banknote of 2024 Nominations

The first three nominations for the Banknote of 2024 are: Kazakhstan: 5,000-Tenge Note, Honduras: 500-Lempira Note, England: 5-Pound Note.

IBNS Journal 63-1

includes articles on Script of Jammu, Kashmir and Tibet, Time and Timekeeping on Banknotes, E. Chiossone: The Father of the Japanese Banknotes, Spanish Colonial Issues in Cuba and Post Office Exchange Tokens of the Amur Region.

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Bylaws of the International Bank Note Society


Article Index
Bylaws of the International Bank Note Society
Article I. Name and purpose
Article II. Membership and dues or subscription
Article III. Chapters
Article IV. Officers and Executive Board
Article V. Elections
Article VI. Duties of Officers
Article VII. Meetings
Article VIII. General
Expulsion and Disciplinary Procedures
Reinstatement Procedures

Article II. Membership and dues or subscription

Section 1 - Membership

Membership in the IBNS is available to anyone in any country of the world. A member is in good standing so long as he is currently a member of the Society, his membership has not been suspended, and he does not owe any financial obligations to the Society other than the dues or subscription for the current year of membership.

Section 2 - Membership Categories

There are seven (7) categories of membership in the IBNS:

  1. REGULAR (R): Any person eighteen (18) years of age or older who is interested in paper currency, has good character, and is in sympathy with the aims and objectives of the IBNS may apply for regular membership.
  2. JUNIOR (J): Any person less than eighteen (18) years of age interested in paper currency, who is of good character, and whose application for membership has been endorsed by a parent or legal guardian is eligible for junior membership.
  3. LIFE (L): Life membership in the IBNS is a privilege available to members who have completed a minimum of two (2) years as a regular, junior, or family member upon application to and approval by the Executive Board.
  4. FAMILY (F): Family membership, issued in the name of an individual applicant who would otherwise be eligible for regular membership, includes the applicant and members of his immediate family (spouse and minor children) listed on the application. Family membership carries entitlement to one (1) copy of each IBNS publication and to one (1) vote.
  5. GROUP (G): Numismatic firms, clubs or societies, libraries, museums, archives, schools, or similar organizations, are eligible for group membership in the IBNS. However, each membership entitles the group to receive only one (1) copy of each IBNS publication and to one (1) vote. Affiliation with or membership by a person in a group holding group membership does not entitle that person to any of the rights and privileges of IBNS membership, such rights and privileges accruing only from individual IBNS membership held in a person’s own name. Group members are ineligible for life membership.
  6. HONORARY (H): Honorary membership, not more than one (1) of which may be awarded in any calendar year, may be conferred by the Executive Board upon written nomination by at least three (3) members thereof and an affirmative vote of at least seventy-five (75%) percent of the members present at a regularly constituted meeting, upon any person who has rendered the IBNS, or the field of numismatics related to paper currencies, noteworthy service and who is deserving of this recognition. Honorary membership will convey upon the holder all of the rights and privileges of regular membership, less those of voting or holding office.
  7. HONORARY DIRECTOR FOR LIFE (HDL): This special category of membership, which entitles the holder to lifetime voting membership on the Executive Board, is reserved for those IBNS members who, by virtue of many years of service and significant contribution to the society, have clearly demonstrated that they are deserving of exceptional recognition. It will be conferred only upon written or electronically communicated nomination by the President and written or electronically communicated affirmative concurrence by seventy-five (75%) percent of all members of the Board. No more than one (1) HDL membership may be bestowed during any five (5) year period, and no more than three (3) HDL memberships may be in effect at any one time. Discussion will take place on the Director’s Forum during the course of an On-Line Board Meeting. All HDL members will be deemed to have been elected.

Section 3 - Membership Application

Application for membership will be made in the form prescribed by the Executive Board and will be forwarded to a Membership Secretary, who will cause notice of such application to be published in the next issue the IBNS Journal and who will forthwith issue a membership card. Objections to any application must be in writing and must be forwarded to the General Secretary, who will inform the applicant of the objections, giving the applicant thirty (30) days within which to reply. The objections, together with the applicant’s reply, will then be furnished to the President for submission, with a recommendation, to the Executive Board for disposition.

Section 4 - Registration Fee

The registration fee and the amount of annual dues or subscription will accompany the application for membership. The Executive Board shall determine the amount of the registration fee and the annual dues for subscription as well as the amount for junior members from time to time. Annual dues or subscriptions are for one (1) year payable in advance and will be stated in US dollars (US$), UK pounds sterling (UK£), and Australian dollars (AU$). Members may remit in other currencies in equivalent amounts based on open market exchange rates current at time of payment.

Section 5 - Resignation

  1. A member who submits his resignation to the Society shall cease to be a member of the Society upon receipt of the resignation without reimbursement for any portion of the membership dues or subscription.
  2. Non-payment of dues or subscription for a period of more than three (3) months from the last day of the month of the member’s membership anniversary may result in the loss of membership in the Society.

Section 6 - Discipline

Membership in the IBNS is a privilege and not a right, and all members are expected to abide by the rules and regulations of the society. Therefore, any member who wilfully violates these bylaws in a manner that adversely reflects upon the IBNS, or the IBNS Code of Ethics, will be subject to disciplinary action. In the event that one (1) or more IBNS members are Officers, Directors, or own greater than fifty (50%) percent of the shares outstanding in a firm accused of such violations, disciplinary action may be taken against such individual IBNS members using the procedures established by the Executive Board for execution of this Section.

  1. To be actionable under this Section, the alleged act or acts of the accused must have taken place within one (1) year of the date on which the complaint is first submitted.
  2. A member accused under this Section will be presumed innocent unless proven guilty. Except as otherwise provided within these bylaws, no member shall be suspended, expelled, or denied any of the rights and privileges of membership except by due process and in accordance with procedures established by the Executive Board.
  3. A member accused under this Section shall be notified in writing, either delivered to him or mailed to him at his address of record, by the President, or his designee, as to the charges made, and shall be given sixty (60) days from date of notification to respond thereto. Posting by mail addressed to the accused’s last known address, as reflected in the IBNS membership records maintained by the Membership Secretaries, will constitute notification of charges. Failure by an accused to respond within this time shall be deemed a plea of nolo contendere, which will cause automatic suspension for failure to respond to official IBNS correspondence and will subject him to such further disciplinary action as the Executive Board may direct. If communication conditions to, from, or in the country of the accused member are known by the Chair of the Grievance and Discipline Committee (CGD) to be extremely poor, the sixty (60) day limit can, on an individual basis, be extended after decision by the CGD.
  4. No member, once notified of charges having been made against him, shall be permitted to resign or otherwise have his membership terminated until his case has been adjudicated. An accused who submits his resignation in lieu of response, or as part of a response that does not otherwise address the charges against him, shall be deemed to have pleaded nolo contendere, and shall be automatically suspended from membership pending further disciplinary action by the Executive Board.
  5. A member who has been convicted in criminal court of a felony or of a crime related to property is automatically suspended, without benefit of prior notification, pending further action by the Executive Board.
  6. When a member is for cause suspended or expelled from the IBNS, the membership may be notified by publication of the fact, date, and reason(s) therefore in one (1) or more of the IBNS Journal or special letter. By joining or maintaining membership in the IBNS, each member is deemed to have given consent to such publication and to have waived any right or rights of recourse against the society or any official thereof.
  7. No person who is under suspension, or has been expelled, from the society for violation of the society Code of Ethics shall be allowed to participate commercially by having, operating, or working behind a table or other location at which numismatic material is bought, sold, traded or exchanged at any public meeting, show, bourse, or other activity or function sponsored or cosponsored by the IBNS or any chapter thereof.
  8. The names of persons expelled from the Society shall be published in the IBNS Journal and shall be prominently displayed on the IBNS website. Details may be so published for a period of thirty (30) years unless the named person dies or is re-instated according to the IBNS bylaws.

Section 7 - Reinstatement

A former member who has been suspended or expelled from the society under the provisions of Section 6 above may apply to the General Secretary for reinstatement. The procedure for reinstatement shall be established by the Executive Board and shall be such that the society will incur no expense in the processing and consideration of the application. The application for reinstatement must be in writing and signed by the applicant. It must address in detail what actions the applicant has taken to rectify or redress the acts, causes, and conditions leading to the suspension or expulsion and, standing alone, in and of itself, must show convincing cause why reinstatement is both warranted and in the best interest of the society. The application shall be considered by the Executive Board, meeting in closed session and voting by secret ballot, no less than six (6) nor more than twelve (12) months subsequent to the date the application is received in proper form by the General Secretary. A two-thirds (2/3) favorable (“REINSTATE”) vote by Executive Board Members casting ballots, in person or via mail, shall be required for reinstatement.