Recommendations of the Members By-Laws Review Committee 38 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) to have vacated office as provided for pursuant to the Act, Regulations and By-Laws; or By-law 41(2) (2) He becomes destitute or delinquent with his creditors, including this Society or any other cooperative society and such delinquency continues for a period of ninety (90) days; or By-law 41(3) (3) Fails to attend three (3) consecutive meetings of the Board, the Supervisory Committee or the Credit Committee without giving satisfactory explanation to the Board or the relevant committee within seven (7) days of his absence from the third meeting. By-law 41(2) He becomes destitute or delinquent or enters into arrangement with his creditors, including this Society or any other financial institution and such delinquency continues for a period of ninety (90) days; or By-law 41(3) Without due excuse approved by the requisite Committee, failed to attend three (3) consecutive meetings of the Board, the Supervisory Committee or the Credit Committee without giving satisfactory explanation to the Board or the relevant committee within seven (7) days of absence from the third meeting; or New By-laws 41 (4) – (11) 4) Resigns by sending any form of written communication to the Secretary of the Society; or 5) Ceases to be a member of the Society or to hold the required number of qualifying shares; or 6) Breaches the confidentiality of any Board, Supervisory or Credit Committee proceedings or information of the Society; or By-law 41(2) Expands the criteria to include the making of arrangements with creditors including other financial institutions and not just cooperatives. By-law 41(3) Expanded on (3) to include other potential criteria that can lead to elected officers’ positions being vacated. By-law 41(2) Accepted as proposed. By-law 41(3) Accepted as proposed. New By-laws 41 (4) – (11) New By-laws 41(4) Accepted as proposed. New By-laws 41(5) Accepted as proposed. New By-laws 41(6) Accepted as proposed. New By-laws 41(7) Accepted as proposed. By-law 41(2) Agree with recommendation. By-law 41(3) Agree with recommendation. Appears reasonable. New By-laws 41 (4) – (7) The approach is to consider each item on its own merits within the bounds of what behaviors / incidents can tarnish the reputation of the Society.
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