Recommendations of the Members By-Laws Review Committee 10 Current By-Laws (January 2023) (A) Board’s Proposed Change (B) Board’s Rationale (C) By-Law Committee’s Recommendation (D) By-Law Committee’s Rationale (E) share of the Society. All such entrance fees shall go into the Reserve Fund. published by management from time to time, including but not limited to subscribing to and paying for the minimum number of qualifying shares for the type of membership. All such membership fees shall go into the Reserve Fund. The Society shall reserve the right to approve or reject applications for membership. delegated authority of the Board, consistent with the policy framework set by members in meeting, but no person thus admitted to membership shall become a member or be entitled to any of the rights or privileges of membership until he has paid a membership fee determined and published by management from time to time, including but not limited to subscribing to and paying for the minimum number of qualifying shares for the type of membership. All such membership fees shall go into the Reserve Fund. The Society shall reserve the right to approve or reject applications for membership. MEMBERSHIP By-law 16 16. A member shall cease to be a member and his membership shall be terminated if he: (a) dies; (b) withdraws from the Society by giving written notice to the Secretary; (c) ceases to hold the required number of shares prescribed in By-Law 21(a) or By-Law 21(b); By-law 16 A member shall cease to be a member and his membership shall be terminated upon: a) death b) withdrawal of membership from the Society by giving written notice to the Society, provided that no member may withdraw while indebted to the Society Reworded for greater clarity. By-law 16 Accepted as proposed. Agree with recommendation.
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