Recommendations of the Members By-Laws Review Committee 11 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) (d) is expelled as provided in the Act, Regulations or By-Laws. c) ceasing to hold the required number of qualifying shares prescribed by By-Law 21 (a) or By-Law 21 (b) d) expulsion from the Society in accordance with the Act, Regulations, Regulator Guidelines and Bylaws or the Society’s policies e) dissolution of the Society. f) MEMBERSHIP By-law 17 17. Any member who: (a) fails to pay any contribution or debt due to the Society; or (b) is convicted of a criminal offence involving dishonesty; or (c) in the opinion of the Board acts in anyway detrimental to the interests of the Society may be suspended by the Board until the next general meeting when he may be expelled as provided in the Act. By-law 17 Any member who has been found guilty of the following offences may be suspended by the Board until the next general meeting when he may be expelled as provided in the Act, Regulations, Regulator Guidelines and By-laws: a) fails to pay any contribution or debt due to the Society; or b) is convicted of a criminal offence involving dishonesty; or c) in the opinion of the Board, acts in anyway detrimental to the interests of the Society. d) Reworded for better flow. By-law 17 Amend 17(a) to state: a) fails to pay any contribution or debt due which is in arrears sixty (60) days or more to the Society; To ensure members are not penalized for casual arrears (overdue less than 60 days). MEMBERSHIP By-law 18 18. Subject to Section 102 of the Act, after payment of any amount due to the Society, or to any contingent liability to the Society, all amounts paid on shares or deposits by members whose membership has been terminated shall be paid to them in order of termination, but only as funds are available. By-law 18 No changes. No changes. By-law 18 No changes were recommended by the Committee. No need to change.
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