BPWCCUL By-Laws Review 2025 – FINAL VERSION 29 EXISTING BY-LAW PROPOSED CHANGE RATIONALE office until his successor is elected or appointed and may be eligible for re-election. (3) Directors shall be elected at the Annual General Meeting and may hold office for two (2) consecutive terms of three (3) years each, before retiring for a minimum of one (1) year providing that at least three (3) members shall retire each year. By-law 38(2) Officers shall be elected at the Annual General Meeting and may hold office for two (2) consecutive terms of up to three (3) years each. (2) has been rewritten so that Directors and Committee Members are considered under one heading of Officers. (4) Members of the Supervisory and Credit Committees shall be elected at the Annual General Meeting and may hold office for two consecutive terms of three (3) years each, before retiring for a minimum of one (1) year, providing that at least one (1) member shall retire each year By-law 38(3) At least three (3) members of the Board and two members of the Supervisory and Credit Committees shall retire each year. By-law 38(4) To ensure the good governance of the Society there shall be cooling off periods, specifically: a) a cooling off period of a minimum of three years between serving on the Board or serving on the Supervisory or Credit Committees of the Society. A former member of the Board of Directors is not eligible to be elected to the Supervisory or Credit Committee within a period of three (3) years of his or her ceasing to be a member of the Board of Directors. b) a cooling off period of a minimum of three years between employment at the Society, or any of its subsidiaries, and serving on the Board or any elected committee of the Society c) a cooling off period of a minimum of three years between employment at the Society, or any of its (3) has been substantively amended and expanded to treat to all Committees and to introduce the expanded Bylaw around cooling off periods and term limits.
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