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CODE OF ETHICS

FOR THE GLOBAL LOTTERY COLLECTORS, Inc. (GLC):
Membership in the Global Lottery Collectors, Inc. (hereinafter referred to as GLC) is a privilege offered to individuals who are considered to be worthy of such membership, but is not a right. As a means of protecting the interests of the GLC, it's members, and Lotology as a whole, Officers of the GLC have hereby adopted the following Code Of Ethics which all GLC Members are hereby subject to:

1. GLC Members will conduct themselves in all matters in a manner consistent with commonly accepted courtesy and morality so as not to bring discredit to the GLC, other GLC Members, or Lotology as a whole.

2. GLC Members will neither advertise, buy, sell nor trade any Lotology items which might reasonably be suspected by the GLC Member to be stolen, altered or counterfeit material, and will immediately report the existence of such suspected material to the Officers of GLC.

3. GLC Members will not knowingly and intentionally misrepresent the condition or identification of any lotology material being offered for sale of trade.

4. GLC Members will honor all purchase, sale, or trade agreements (either written or orally), and will make payments or shipments promptly, and will promptly return any item received which is not in accordance with the conditions of the purchase or trade agreement, with a full explanation as to the reason for such return.

5. Any dispute or disagreement with other GLC Members will be submtted to the GLC Officers or committee selected by the GLC officers, for arbitration and solution, and all GLC Members will accept the final decision of the Officers in all such matters.

6. All monies considered to be the property of the GLC are normally expected to be received, timely processed, and properly accounted for by the GLC Treasurer only. Any other GLC Member who comes into possession of such monies will immediately forward same in a safe manner, along with a full description of the sources and amounts of such monies, to the GLC Treasurer for the proper processing and accounting by the GLC Treasurer. It is expected that payments to the GLC will normally be in the form of check or money order, and Cash payments are definitely discouraged (especially by mail). Since "Cash" payments to the GLC might be expected at GLC Meetings or Conventions, the GLC Treasurer will maintain a numbered "Cash Receipts" booklet for the proper accounting of such. Any checks or money orders representing GLC monies made payble to an individual GLC member rather than the GLC, will be properly endorsed "Pay to the order of The GLC" for deposit by the GLC Treasurer. The commingling of monies which are the property of the GLC and the funds of an individual GLC Member is strictly prohibited.

7. Disbursement and proper accounting for expenses of the GLC are normally expected to be the prime responsibility of the GLC Treasurer. GLC Members may not commit the GLC to any expenditures without prior approval from an Officer of the GLC, and any reimbursement for such a disbursement by a GLC Member from their own funds or an established petty cash fund will only be made upon timely presentation to the GLC Treasurer of receipts to support such disbursement(s).

8. GLC Members will be governed by the Constitution and Bylaws of GLC, along with any amendments, resolutions, and policies which may be established. If at least 2 Officers of GLC determine that a member has purposely violated any portion of the established GLC Code Of Ethics, suc member will be subject to immediate expulsion from GLC, thereby losing any further rights in the organization.

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