Terms of Service Introduction VANK Wallet is a product of VANK DIGITAL SERVICES LIMITED, a company registered in Nigeria with RC Number 1876455 with operational office at Grand Hubb, 18, 1st Avenue, Gwarinpa, Abuja. VANK Wallet is the designated digital wallet service provider for members of the VANK COOP Group Society (VANK Coop). These Terms of Use (these "Terms") are a legally binding agreement between you and VANK DIGITAL SERVICES LIMITED, doing business as VANK Wallet (" VANK," " we," or " us"). We offer a software platform and other services that help connect owners of real property with people seeking to co-own and co-purchase that real property (the " Services") through our websites, including our website located at vankwallet.com (collectively, our " Websites") and application program interfaces and other services we make to interact with you through social networks (such social networks, " Social Networks"; our services that interact with Social Networks, " Social Network Services"; our Websites, our Social Network Services, and our other services are collectively our " Services"). Certain features of the Services may be subject to additional terms and conditions which will be posted on the Services in connection with those features or provided to you in writing (including by email). All such additional written terms and conditions are incorporated by reference into these Terms. If there is a conflict between these Terms and such additional written terms and conditions, those additional terms and conditions will control. By using the Services (including interacting with VANK through Social Networks), you acknowledge that you have read and understand these Terms and agree to be bound by these Terms (on behalf of yourself or the entity that you represent). By using the Services, you acknowledge that you have the required capacity to enter into these Terms and that you are at least 18 years old. If you do not agree with these Terms, do not access or use the Services. Changes to Terms of Use We may, in our sole discretion and without prior notice, modify these Terms at any time. If we do so, we will notify you by posting the modified Terms at vankwallet.com/terms and/or through other communications to you. You should review these Terms and our other policies (including our Privacy Policy available at vankwallet.com/privacy) periodically to be aware of any changes. By using the Services after changes to these Terms, you are agreeing to be bound by the changes. Eligibility You may only use the Services if you (1) are 18 years or older, (2) provide the correct information and accept to undergo our KYC process, (3) are capable of forming a binding contract, (4) have not been previously suspended from the Services, and (5) are not barred from using the Services under applicable law. Registration and Accounts To access and use the Services, you will have to create an account with VANK (an " Account"). Currently, you can create your Account by giving us certain information at vankwallet.com/signup. You must provide us with accurate, complete, and up-to-date information for your Account. If you do not maintain current information with us, we may have to suspend or terminate your Account. You acknowledge that all information you submit to us is accurate and you will update that information as appropriate. You may delete your Account at any time by emailing us at team@vankwallet.com or by following other instructions posted on our Websites, if any. If you have purchased Services from VANK, the deletion of your Account will have no effect on your obligations to pay VANK or other obligations in connection with such purchase. By creating an Account, you are agreeing to receive electronic communications from VANK, including through Social Networks and by email, and that any notices or disclosures that are sent to you electronically are sufficient written legal notice under this Agreement and as may be required by applicable law. Our communications to you may include information about your Account, the Services, and promotional information, such as contests, surveys, offers, and other relevant information. If you wish to unsubscribe to all or certain electronic communications you receive from VANK, please follow the instructions for how to unsubscribe in the electronic communications. VANK Coop Group and VANK Wallet When a user buys a property listed on Vank Wallet using the ‘Group Buy’ option, he/she automatically becomes a member of, first a virtual group or ‘group’, and then a duly registered group set up for the administrative convenience of that property. Users shall be registered as a member of a group named as a variant of ‘ Group 101 Society’. The Byelaws governing the groups associated with the Vank Wallet ecosystem is attached in the appendix at the end of this document. By signing up on the form available on the Vank Wallet website, you automatically become a member of the VANK COOP Group and are to abide by the rules associated with the operations of the Group and the wallet. Every property listed on Vank Wallet will be represented in token units which signify ownership of such property. Users can buy fractions of a property by paying with their wallet balance and their amount of ownership of a property will also be represented in their wallets. Users should be aware that holding a fraction of the total tokens in a property does not grant full ownership of the property and therefore means that fractional token holders in a property may not take possession of or build on the property until they have bought up 100% of such property. Users will however be able to hold, sell, or borrow against the value of their property tokens within the VANK Wallet dashboard once sell and borrowing functionality is enabled. Co-owned property are allocated in the name of the assigned Group Coop and kept in trust for members. The members of a Group Coop may make proposals that affect the listed property relating to its maintenance, sale, and development. Proceeds of such decisions such as a sale will be distributed to the wallets of token holders. Property bought outright by a user may be allocated in that user's name at the user's request. Token holders may take a loan from VANK Wallet using the tokens as security. Holders shall qualify for loans which are a fraction of the current market value of their tokens. The loan amount available to a user will be viewable on his dashboard. Every loan transaction will attract a monthly interest of 6%. Default shall trigger an additional 2% penalty and a sale of the user’s tokens sufficient to cover the user’s loan plus penalty. The rest of the user’s tokens will be available to the user. For “Ongoing Development’ projects, tokens may be issued in a phased manner which may increase the number of tokens linked to a property. The additional tokens will always represent real value addition in the form of improvements to the documentation, building, branding, etc of the existing property. To ensure strict adherence additional tokens will be released only under strict supervision by a reputable audit firm. By signing up and buying tokens of listed property on VANK Wallet, the user confirms their acceptance of these terms and conditions. Minimum RoI Where applicable all reference to return on investment shall be understood as the recoverable gain on the value of the property should it be sold after 12 months since purchase. RoI within VANK Wallet does not refer to a guaranteed monthly or yearly profit, as such subscribers are advised to buy property with funds they can commit for longer than one year. Fractional and Whole Property Two types of properties shall be listed on VANK Wallet: Fractional properties – which shall be jointly owned and administered – and Whole properties – which are fully owned by an individual who has opted to buy the entire property. While both types of properties shall be governed by the terms and conditions represented in this document, subscribers to whole properties may opt to register property documentation in their name and delist property from the VANK Wallet ecosystem provided they have paid all outstanding costs and levies for the property. Changes to Services We reserve the right, in our sole and absolute discretion, to change, reformulate, suspend, discontinue, or terminate any of the Services at any time, without prior notice. Content on the Services; Social Network Terms All materials provided on the Services, including but not limited to information, documents, products, logos, graphics, sounds, images, compilations, content and services, are provided either by VANK or by respective third party users, authors, developers or vendors and are the copyrighted works of VANK and/or such third party providers (or is permitted/licensed to be used by such third party providers), unless specifically provided otherwise. Except where expressly provided otherwise by VANK, nothing on the Services shall be construed to confer any license or ownership right in or to the materials provided through the Services, under any of VANK’s intellectual property rights, whether by estoppel, implication, or otherwise. Subject to your compliance with these Terms, VANK grants you a limited, non-exclusive, non-transferable, non-sublicensable license to access and view the Services solely in connection with your permitted use of the Services. If you use a Social Network in connection with the Services, you shall comply with all terms of use and privacy policies to such Social Network. User Content For purposes of these Terms: (a) " Content" means text, graphics, images, music, software, audio, video, works of authorship of any kind, and information or other materials that are posted, generated, provided or otherwise made available through the Services by VANK; and (b) " User Content" means any Content that you or other users provide to be made available through the Services. Content includes without limitation User Content. VANK does not claim any ownership rights in any User Content that you make available through the Services and nothing in these Terms will be deemed to restrict any rights that you may have to use and exploit your User Content. Subject to the foregoing, VANK and its licensors exclusively own all right, title and interest in and to the Services and Content, including all associated intellectual property rights. You acknowledge that the Services and Content are protected by copyright, trademark, and other laws of the United States and foreign countries. You agree not to remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the Services. By making any User Content available through the Services, you hereby grant to VANK and each of its affiliates a non-exclusive, transferable, sublicensable, worldwide, royalty-free license to use, copy, modify, create derivative works based upon, publicly display, publicly perform and distribute your User Content in connection with operating and providing the Services and Content to you and to other users. You are solely responsible for all your User Content. You represent and warrant that you own all your User Content or you have all rights that are necessary to grant us the license rights in your User Content under these Terms. You also represent and warrant that neither your User Content, nor your use and provision of your User Content to be made available through the Services, nor any use of your User Content by VANK or other users on or through the Services will infringe, misappropriate or violate a third party's intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation. You can remove your User Content by specifically deleting it. However, in certain instances, some of your User Content may not be completely removed and copies of your User Content may continue to exist on the Services. Neither VANK nor its affiliates are responsible or liable for the removal or deletion of (or the failure to remove or delete) any of your User Content. Copyright Violations If you believe that your copyright-protected work was posted to the Services without authorization, please notify us immediately at team@vankwallet.com. User Conduct VANK imposes certain restrictions on your permissible use of the Services. You are prohibited from violating or attempting to violate any security features of the Services, including, without limitation, (a) accessing content or data not intended for you, or logging onto a server or account that you are not authorized to access; (b) attempting to probe, scan, or test the vulnerability of the Services or any associated system or network, or to breach security or authentication measures without proper authorization; (c) interfering or attempting to interfere with service to any user, host, or network, including, without limitation, by means of submitting a virus to the Services, overloading, "flooding," "spamming," "mail bombing," or "crashing;" (d) using the Services to send unsolicited e-mail, including, without limitation, promotions, or advertisements for products or services; (e) forging any TCP/IP packet header or any part of the header information in any email or in any posting using the Services; (f) attempting to modify, reverse-engineer, decompile, disassemble, or otherwise reduce or attempt to reduce to a human-perceivable form any of the source code used by VANK in providing the Services; or (g) using the Services in connection with the violation of any third party's intellectual property or proprietary rights, including copyrights, trademarks, or patents. Any violation of system or network security may subject you to civil and/or criminal liability. You shall not post, upload, publish, submit or transmit any Content, or otherwise conduct yourself in connection with the Services in a way, that: (a) infringes, misappropriates or violates a third party's patent, copyright, trademark, trade secret, moral rights or other intellectual property rights, or rights of publicity or privacy; (b) violates, or encourages any conduct that would violate, any applicable law or regulation or would subject VANK or any of its affiliates to civil liability; (c) is fraudulent, false, misleading or deceptive; (d) is defamatory, obscene, pornographic, vulgar, or offensive; (e) promotes discrimination, bigotry, racism, hatred, harassment, or harm against any individual or group; (f) is violent or threatening or promotes violence or actions that are threatening to any person or entity; or (g) promotes illegal or harmful activities or substances. You shall not use, display, mirror or frame the Services, or any individual element within the Services, the names, trademarks, logos, or other proprietary information of VANK or any of its affiliates, or the layout and design of any page or form contained on a page on the Services, without VANK's express written consent. You shall not attempt to access or search the Services or Content or download Content from the Services through the use of any engine, software, tool, agent, device or mechanism (including spiders, robots, crawlers, data mining tools or the like) other than the software and/or search utilities provided by VANK or other generally available third party web browsers. You shall not send any unsolicited or unauthorized advertising, promotional materials, email, junk mail, spam, chain letters or other form of solicitation with the Services. You shall not use any meta tags or other hidden text or metadata utilizing a trademark, logo, URL or product name of VANK or any of its affiliates without VANK's express written consent. You shall not use the Services or Content, other than User Content, for any commercial purpose or in any manner not permitted by these Terms. You shall not collect or store any personally identifiable information from the Services from other users without their express permission. You shall not impersonate or misrepresent your affiliation with any person or entity. You shall not violate any applicable law or regulation. You shall not encourage or enable any other individual to do any of the foregoing actions prohibited in this section. Although we're not obligated to monitor access to or use of the Services or Content or to review or edit any Content, we have the right to do so for the purpose of operating the Services, to ensure compliance with these Terms, or to comply with applicable law or other legal requirements. We reserve the right, but are not obligated, to remove or disable access to any Content, at any time and without notice, including, but not limited to, if we, at our sole discretion, consider any Content to be objectionable or in violation of these Terms. We have the right to investigate violations of these Terms or conduct that affects the Services. We may also consult and cooperate with law enforcement authorities to prosecute users who violate the law. Feedback You may provide us feedback, comments, and suggestions for improvements to the Services (" Feedback"), which are separate from User Content. You grant us a non-exclusive, worldwide, perpetual, irrevocable, fully-paid, royalty-free, sublicensable, and transferable license under any and all intellectual property rights that you own or control to use, copy, modify, create derivative works based upon, and otherwise exploit the Feedback for any purpose. Third Party Websites You acknowledge that we have no control over, and no liability for any third party websites or materials, including websites and materials that you may access from links on our Websites, including any Social Networks and websites operated by third-party service providers that we engage to assist us in providing the Services. VANK makes no guarantees about the accuracy, currency, content, or quality of the information provided by such websites, and VANK assumes no responsibility for unintended, objectionable, inaccurate, misleading, or unlawful content that may reside on those websites. Term and Termination These Terms will remain in full force and effect while you use the Services, unless terminated as described in this section. We may terminate or suspend your access to and use of the Services (including your Account), at our sole discretion, at any time and without notice to you. You acknowledge that any termination of your Account may result in the deletion of your User Consent. You hereby waive any claims that you may have against VANK in connection with the termination of your Account or the deletion of your User Content. The following sections of these Terms survive termination of your Account or these Terms: "User Content," "Indemnity," "Disclaimers," "Limitation of Liability," "Dispute Resolution," and "Entire Agreement; Severability; Waiver." Indemnity To the fullest extent permitted by applicable law, you agree to indemnify, defend, and hold harmless VANK, its affiliates, officers, directors, employees, consultants, agents, representatives, predecessors, successors, and assigns (" VANK Parties") from any and all third party claims, losses, liability, damages, and/or costs (including reasonable legal fees and costs) (" Claims")arising from or related to (1) any access to, use of, or misuse of the Services by you or any third party you authorize to access or use the Services, (2) your violation of these Terms, (3) any User Content you create, post, share, or upload on or through the Services or any Social Network, (4) any Feedback, (5) your violation of the legal rights of a third party, and (6) your infringement, or infringement by any other user of your Account, of any intellectual property or other right of any person or entity. VANK will notify you promptly of any such claim, loss, liability, or demand, and will provide you with reasonable assistance, at your expense, in defending any such claim, loss, liability, damage, or cost. You shall promptly notify VANK of any Claims alleged by third parties, cooperate with the VANK Parties in defending such Claims and pay all fees, costs and expenses associated with defending such Claims (including, without limitation, all legal fees and costs). The VANK Parties shall have control of the defense or settlement of any third party Claims. This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and VANK. Disclaimers WE DO NOT WARRANT OR GUARANTEE THE ACCURACY OF THE INFORMATION AVAILABLE ON THE SERVICES. IF THERE IS AN ERROR OR DISCREPANCY ON OUR SERVICES, IN ANY COMMUNICATIONS WITH YOU, OR OTHERWISE, WE RESERVE THE RIGHT TO CORRECT THAT ERROR. THE SERVICES ARE PROVIDED ON AN "AS IS" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. VANK DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT AS TO THE SERVICES AND CONTENT, AND ANY WARRANTIES THAT ARISE FROM TRADE USAGE OR CUSTOM. VANK DOES NOT WARRANT THAT THE SERVICES WILL MEET YOUR REQUIREMENTS OR THAT THE OPERATION OF THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE. Reference to any products, services, processes or other information by trade name, trademark, manufacturer, supplier, vendor or otherwise does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by us. Limitation of Liability VANK’S LIABILITY TO YOU IS LIMITED. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL VANK BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, LOSS OR DIMINUTION IN VALUE OF ASSETS OR SECURITIES, OR DAMAGES FOR BUSINESS INTERRUPTION) ARISING OUT OF OR IN ANY WAY RELATED TO THE ACCESS TO OR USE OF THE SERVICES OR CONTENT (INCLUDING, BUT NOT LIMITED TO, USER CONTENT, THIRD PARTY CONTENT AND LINKS TO THIRD PARTY SITES) OR OTHERWISE RELATED TO THESE TERMS (INCLUDING, BUT NOT LIMITED TO, ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE ON ANY INFORMATION OBTAINED FROM ANY VANK PARTY, OR FROM EVENTS BEYOND THE VANK PARTIES' REASONABLE CONTROL, SUCH AS SITE INTERRUPTIONS, DELETIONS OF FILES OR EMAILS, ERRORS OR OMISSIONS, DEFECTS, BUGS, VIRUSES, TROJAN HORSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM ACTS OF GOD, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO THE VANK PARTIES' RECORDS, PROGRAMS OR SYSTEMS), REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED) OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE). TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE MAXIMUM AGGREGATE LIABILITY OF THE VANK PARTIES (JOINTLY) ARISING OUT OF OR IN ANY WAY RELATED TO (A) THE ORDER, RECEIPT OR USE OF SERVICES PURCHASED FROM VANK EXCEED THE AMOUNT PAID FOR SUCH SERVICES; AND (B) THE ORDER, RECEIPT OR USE OF THE SERVICES OR CONTENT, EXCEED THE GREATER OF $250 OR THE AMOUNT YOU PAID TO US IN THE ONE (1) MONTH PERIOD IMMEDIATELY PRECEDING THE DATE ON WHICH YOUR CLAIM AROSE. THE FOREGOING LIMITATIONS SHALL APPLY EVEN IN THE EVENT YOUR REMEDIES HEREUNDER FAIL OF THEIR ESSENTIAL PURPOSE, AND THE FOREGOING SHALL CONSTITUTE THE VANK PARTIES' SOLE LIABILITY AND OBLIGATION IN RESPECT HEREOF, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU, ON BEHALF OF YOUR HEIRS, EXECUTORS, ADMINISTRATORS, LEGAL AND PERSONAL REPRESENTATIVES, HEREBY RELEASE, WAIVE, ACQUIT AND FOREVER DISCHARGE THE VANK PARTIES FROM AND AGAINST, AND COVENANT NOT TO SUE ANY SUCH VANK PARTY FOR, ALL CLAIMS YOU HAVE OR MAY HAVE ARISING OUT OF OR IN ANY WAY RELATED TO THESE TERMS. IF YOU ARE A CALIFORNIA RESIDENT, YOU HEREBY WAIVE YOUR RIGHTS UNDER CALIFORNIA CIVIL CODE 1542, WHICH STATES "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR." THE LIMITATIONS SET FORTH IN THIS SECTION TITLED "LIMITATION OF LIABILITY" DO NOT LIMIT OR EXCLUDE LIABILITY FOR OUR FRAUD, GROSS NEGLIGENCE, OR INTENTIONAL, WILLFUL, MALICIOUS OR RECKLESS MISCONDUCT. Privacy Policy Please refer to our Privacy Policy located at vankwallet.com/privacy for information on how we collect, use, and disclose information about our users. Governing Law These Terms and any action related to these Terms will be governed by the laws of the United States and the laws of the State of California, without regard to their rules regarding conflicts of law. Entire Agreement; Severability; Waiver These Terms constitute the entire agreement between you and us regarding the use of our Services through the Services. If for any reason a court of competent jurisdiction finds any provision of these Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect. No waiver of any breach of any provision of these Terms will constitute a waiver of any prior, concurrent, or subsequent breach of the same or any other provisions hereof, and no waiver shall be effective unless made in writing and signed by an authorized representative of the waiving party. Neither party is an agent or partner of the other. These Terms, and your rights and obligations herein, may not be assigned, subcontracted, delegated, or otherwise transferred by you without VANK's prior written consent, and any attempted assignment, subcontract, delegation, or transfer in violation of the foregoing will be null and void. VANK may freely assign these Terms. The terms and conditions set forth in these Terms shall be binding upon assignees. Copyright All contents of the Websites and other Services are: Copyright © 2020 VANK, Inc. All rights reserved. Nothing contained on the Websites should be understood as granting you a license to use any of the trademarks, service marks, or logos owned by VANK or by any third party. Contact To contact us about these Terms, please email us at hello@vankwallet.com.
APPENDIX GROUP COOP BYELAW Introduction Group Coop is a Nigerian real estate that allows members to co-own real estate properties. The purpose of this byelaw is to establish rules and regulations that will guide the operations of Group Coop and ensure the effective management of real estate properties owned by the gro. Membership Membership of Group Coop is open to all individuals who are legally competent to enter into a contract. To become a member, an individual must complete a sign up form hosted on the Vank Walletr website, pay for the prescribed minimum amount to be co-owner of a property and meet any other requirements as may be specified by Group Coop from time to time. A member shall have the right to participate in the management and decision-making process of Group Coop, including the right to attend and vote at general meetings. A member shall also be entitled to dividends and other benefits accruing from the operations of Group Coop, in accordance with the byelaws. A member shall be required to comply with all the provisions of this byelaw and any other regulations that may be made by Group Coop from time to time. A member may leave the Coop by simply selling his portion of his real estate in his wallet and requesting through an email to hello@vankwallet.com to be struck out of the membership register. Ownership and Management of Real Estate Properties The ownership of real estate properties by Group Coop shall be in the form of group ownership, where members co-own the properties and have equal rights to use and occupy them. Group Coop shall establish a Real Estate Committee that will be responsible for the management of real estate properties owned by the group. The committee shall be composed of members appointed by the Board of Group Coop. The Real Estate Committee shall be responsible for the allocation and management of real estate properties owned by Group Coop, including the collection of rents, maintenance of the properties, and resolution of disputes arising from the use and occupation of the properties. The Real Estate Committee shall keep proper records of all real estate properties owned by Group Coop, including the location, size, type, and status of the properties. Any member who wishes to use or occupy a real estate property owned by Group Coop shall apply to the Real Estate Committee in writing, stating the purpose and duration of use. The Real Estate Committee shall consider the application and allocate the property to the member based on the availability of the property, the purpose of use, and any other factors that the committee may consider necessary. The Real Estate Committee shall have the power to revoke the allocation of a real estate property to a member who violates the terms and conditions of use or fails to pay the prescribed rent or other fees. Group Coop shall have the right to dispose of any real estate property owned by the group, subject to the approval of the members through a simple vote on the Vank Wallet app. Technology Group Coop members shall access services from the exclusively using the Vank Wallet app accessible on vankwallet.com. Vank Wallet database shall hold and update the membership register for Group Coop Group Coop members shall sign up, verify their identity, and carry out all property transactions exclusively using the Vank Wallet app. All data relating to the activities of Group Coop such as proposals for meetings, minutes of meetings, and transaction data shall be securely stored within Vank Wallet infrastructure Finances All transactions relating Group Coop shall be accessible on the Vank Wallet, with every member having access to a dashboard containing personified date. Members of Vank Coop may propose and put to vote to set up a Finance Committee that will be responsible for auditing financial data relating to the groups real estate and available on Vank Wallet. The committee shall be composed of three members nominated by the group trough a simple vote. The Finance Committee shall be responsible for verifying the records of all the financial transactions of relating to the subject real estate held by Group Coop. Group Coop shall be assigned a special wallet for the disbursement of the proceeds from the sale of property. Disbursement shall be automated and managed within Vank Wallet. Finances Group Coop may hold a virtual Annual General Meeting (AGM) once every year, not later than six months after the end of its financial year, if proposed and passes a vote of the simple majority of voters. The end of the financial year shall be December 31st. The purpose of the AGM shall be to consider financial statements and transact any other business as may be specified in the notice of meeting. Group Coop shall also hold Extraordinary General Meetings (EGMs) as may be necessary to consider any special or urgent matters. Members of Group Coop may propose an EGM and if the proposal sails through by a simple majority vote of the members of the group. Notice of a general meeting shall be given to all members not less than two weeks before the date of the meeting. The notice shall specify the venue, date, time, and agenda of the meeting. A quorum for a general meeting shall be one-third of the total membership of Group Coop. If a quorum is not present, the meeting shall be adjourned to a later date, not less than seven days from the original date, and a notice shall be given to all members. Decisions at a general meeting shall be made by a simple majority of the members present and voting, except in cases where a special resolution is required. A special resolution shall require the support of at least two-thirds of the members present and voting. Amendment of the Byelaws This byelaw may be amended by a special resolution of Group Coop in agreement with Vank Wallet, passed at a general meeting. Notice of any proposed amendment shall be given to all members not less than two weeks before the date of the meeting. Any amendment to the byelaws shall be subject to the approval of the relevant regulatory authorities, if required. Conclusion The above byelaw provides a framework for the establishment and operation of Group Coop, a real estate group in Nigeria. It outlines the procedures for membership, the roles and responsibilities of the Board and committees, the management of finances, meetings, disciplinary procedures, and the amendment of the byelaws. Group Coop is committed to promoting the welfare and interests of its members through the co-ownership of real estate, and to ensuring transparency, accountability, and good governance in all its operations. Members are encouraged to participate actively in the affairs of the group, and to uphold the values of honesty, integrity, and mutual respect. The byelaw shall be reviewed periodically to ensure that it remains relevant and effective in meeting the changing needs of Group Coop and its members.
