ACA Individual Code of Conduct
By completing the ACA membership application payment of applicable individual membership fee, you also agree to the individual membership Code of Conduct and Terms for membership in ACA as listed below. Questions may be directed to Sarah Dickey, ACA Membership Director.
Individual Member Criteria
A candidate for ACA membership must:
- agree to abide by the terms and conditions of the ACA Membership Agreement / Code of Conduct
- pay the annual dues as listed on the ACA website
Member Code of Conduct
- I will conduct myself in a professional manner at all times.
- I will respect the privacy of other members and not provide their name to any third party without their permission.
- I will keep membership information confidential.
- I understand and recognize that ACA activities are focused on investment pursuits and will not personally charge a startup business a fee for access introduction to any angel group, angel fund or any activity of the ACA.
- I affirm that as an individual member of ACA my investments will be made on my own behalf and by my own decision. I conduct my own analysis and due diligence to determine the appropriateness of any investment I make in a company, regardless of how the opportunity is introduced to me.
- I will not represent that my membership in an ACA as an individual or as part of a ACA member Fund or Group will guarantee or lead to funding for any entrepreneur that is my client.
- I will disclose to an ACA member Fund or Group any relationship I have or may have with a presenting company, including any personal gain I may receive from the company.
Membership Process
Complete membership submission includes:
- Completed membership application, answering all data fields in the document
- Payment of the membership fee by check or credit card, based on the invoice you receive after acceptance.
Membership Terms
- All ACA members agree to abide by ACA by-laws, and actively promote the intent and spirit of the by-laws.
- Group and individual member types will be required to annually re-qualify for membership, including agreement to all membership qualification requirements.
- Provisional Members must provide regular status reports (monthly) to their ACA mentor during their provisional membership term. Provisional Members must submit an application for Full Membership within 12 months of their original acceptance as a Provisional Member If the application is not submitted, or does not meet the qualifications for Full Membership, all membership rights of any type will be cancelled. The group can reapply for Full Membership at a later time when it has held its first investment meeting of individual participants, has multiple investors participating in the angel groups activities and meets the qualifications for Full Membership.
- All ACA members including member groups and their individual participating investors, agents and representatives, recognize and respect the confidential nature of individual member information and agree to maintain such confidentiality.
- Member groups recognize and agree that certain information regarding the group, but not its individual participants, may be made publicly available in furtherance of ACA’s by-laws. Member groups will cooperate with ACA in all manners for the promotion of the ACA mission, including response to research surveys by ACA and the Angel Resource Institute (ARI).
- All members and member groups agree to a “total non-solicitation policy” related to all affiliates, sponsors, partners, and other members of ACA. Direct, unsolicited contact with ACA member angel groups using the contact information obtained from the ACA website, meeting attendance lists or other non-public sources is specifically prohibited. ACA has a “zero tolerance” of this non-solicitation policy and reserves the right to terminate members for any such offense.
- ACA’s Board will set the annual Full Membership fee schedule, Provisional Membership fee, and all ACA membership renewal will be conducted annually. The membership term is July 1 through June 30th of each year, with a pro-rated fee available for members that are selected in the middle of the fiscal year.
Disclaimer
It is understood that ACA is not a venture fund, investment bank, broker/dealer, investment clearinghouse, investment portal nor any other form of investment advisor or otherwise, and is not registered with the Securities and Exchange Commission or any state securities commission. Any investments made involving one or more ACA member organization, or individuals in one or more member groups, or individual members of ACA, is done so at the sole risk and responsibility of those making the investment decision and does not in any manner involve or relate to ACA. All members will indemnify ACA for any and all actions or proceedings relating in any manner to ACA being named a party in an action or proceeding involving an investment of any kind by a member or individuals comprising the member, or entities, representatives or agents of member or individuals comprising the member.
Membership Termination
ACA membership is subject to annual renewal, non-renewal, revocation or termination by the ACA Board. ACA membership may be terminated or membership revoked at the discretion and determination of ACA Board, should it be determined that an individual ACA member has become inactive angel investor for more than 12 consecutive months, defined by the failure to review and analyze of potential angel investments, other than attandence at a venture forum which is open to individuals outside of ACA members. ACA membership may also be terminated or revoked should any member or member agent or representative breach any term of ACA membership. A member will be notified in writing by the Board of Directors of the intent to terminate or revoke membership, and the on-notice member shall have thirty (30) days in which to submit a written response to the Board, should the member deem that its actions or inactions do not warrant or qualify for termination or revocation of membership. The Board shall consider, in good faith, such on-notice member written response within sixty (60) days. The decision of the Board of Directors is final.
ACA reserves the right to conduct reference and/or background checks on potential association members.