Asfona
Association of Starwood Franchisees & Owners - North America
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By-Laws – Article VIII

Fiscal Year

The revised fiscal year of the Association shall commence on January 1 and end on December 31 of each year, but the Board may change such fiscal year from time to time as it desires. Up until 2008 the Fiscal Year had been July 1st to June 30th of each year.




Article VII – Committees Article IX – Indemnification of
Directors and Officers
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