members first
The MIPS Board includes qualified medical and dental practitioners with a thorough understanding of the problems and risks faced by members of MIPS. Applications for membership and members’ requests for assistance are considered by the MIPS Board in accordance with MIPS Constitution.
MIPS assets are owned by its members, and it is operated on a not-for-profit basis. As MIPS exists solely to protect the interests of members, membership concerns are always the first consideration when decisions are made. The MIPS Constitution sets out the rules and conditions under which MIPS operates.
MIPS’ Constitution ensures that:
- all income is applied to the objects expressed in the Constitution. Any surplus is added to the membership’s total reserve to achieve those objects,
- no dividend is returned to shareholders, and
- subscribing members and not shareholders have a right to MIPS surplus assets.