Recommendations of the Members By-Laws Review Committee 13 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) maintain contributions to the value of twenty-four (24) qualifying shares.” (d) “a member who has not yet attained the age of sixteen (16) years 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 Bylaw, pay and thereafter maintain contributions to the value of ten (10) qualifying shares. By-law 22 22. Shares may be transferred in accordance with Section 48 & 49 of the Act, but no transfer shall be registered until a transfer fee of $5.00 has been paid. By-law 22 No changes. No changes. By-law 22 No changes were recommended by the Committee. No need to change. By-law 23 23. Subject as hereinafter provided the amount of any share or the amount paid on any share may be withdrawn at any time provided that the Board shall have the right at any time to require members to give seven (7) days notice in writing or in any given emergency such additional notice as the Board may fix, of his intention to do so. By-law 23 Subject as hereinafter provided, the amount of any share or the amount paid on any share may be withdrawn at any time provided that the Society shall have the right at any time to require members to give no less than seven (7) days’ notice in writing of his intention to do so, or in any given emergency such additional notice as the Society may fix in its policies. By-law 23 The seven (7) days’ notice stated in the original by-law should remain instead of the ‘no less than seven (7) days’ notice’ as proposed. Keep the time period specific instead of making the seven days the lower limit of notice. By-law 24 24. Where a member’s liability to the Society exceeds his savings, such savings may only be withdrawn in accordance with the Society’s loan policy. By-law 24 No changes. By-law 24 No changes were recommended by the Committee. No need to change. By-law 25 25. If the whereabouts of any member are not known to the Society and no claim is made within one year from the date of his last transaction with the Society, the Board may transfer his share or By-law 25 No changes. By-law 25 No changes were recommended by the Committee. No need to change.
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