Hotels & Resorts
Association of Franchisees & Owners – North America

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Article VIII — Fiscal Year

The fiscal year of ASFONA shall commence on January 1 and end on December 31 of each year, but the President with the approval of 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.

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