The Board of Directors shall have the discretion to terminate the membership of any member on any of the following grounds:

(a) Failure of an individual member or a representative to earn at least eight (8) attendance points during the calendar year in accordance with Section 5 (b) above;

(b) Failure of the individual member or representative to pay membership dues and other financial obligations to the Association within sixty (60) days after due date and notice; and

(c) Such other causes as the Board of Directors may determine.

A member of the Association may also terminate his/her/its membership by voluntary withdrawal upon sixty (60) days written notice to the Association. In case of voluntary withdrawal by a member-firm, the notice must be signed by its president, chief finance officer, managing partner or any authorized person. Such voluntary withdrawal from membership requires a written acceptance of the Board subject to the payment or settlement by such member of all unpaid financial obligations to the Association.

Termination of membership shall result in automatic forfeiture of all rights and privileges of the member and/or its representatives.