Recommendations of the Members By-Laws Review Committee 12 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) MEMBERSHIP By-law 19 19. The Society shall keep a register of its members in accordance with the provisions of the Act. By-law 19 No changes. No changes. By-law 19 No changes were recommended by the Committee. No need to change. SHARES By-law 20 20. In accordance with Section 30 (1) of the Act, the par value of one share shall be $5.00. By-laws 20 No changes. No changes. By-laws 20 No changes were recommended by the Committee. No need to change. By-law 21 21. (a) In accordance with the provisions of Section 10 (1) (a) (v) of the Act, a member who is 16 years or older shall pay and thereafter maintain contributions to qualifying shares at a value of twenty-four qualifying shares. (b) “a member who has not yet attained the age of sixteen (16) years shall pay and thereafter maintain contributions to qualifying shares at a value of ten (10) qualifying shares and on attaining the age of sixteen (16) years, that member shall pay and thereafter maintain contributions to qualifying shares at a value of twenty-four (24) qualifying shares.” (c) “a member who is sixteen (16) years or older whose name was entered in the Society’s register of members prior to the enactment of this By-law, shall within the first six (6) months of the enactment of this By-law, pay and thereafter By-laws 21(a) and 21(b) No changes. By-law 21(c) To be deleted as grace period has passed. By-law 21(d) To be deleted as grace period has passed. No changes. By-law 21(c) and By-law (d) The originally stated grace period has been passed and the actions required of the members has been made null and void by the passage of time. By-laws 21(a) and 21(b) No changes were recommended by the Committee. By-law 21(c) and By-law (d) The Board’s recommendation to delete was accepted. No need to change. Agree with recommendation.
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