BPWCCUL By-Laws Review 2025 – FINAL VERSION 40 EXISTING BY-LAW PROPOSED CHANGE RATIONALE By-law 53(4) The Credit Committee may be removed from office by a special resolution made in a Special General Meeting called for that purpose if it fails to submit a report to the Board pursuant to Section 209 (1) (c) of the Act. By-law 53(4): No changes By-law 53(5) The Committee shall choose from its number a Chairman and a Secretary. These offices shall not be held by the same person. By-law 53(5): No changes By-law 53(6) The Secretary of the Committee shall prepare and maintain full and correct records of all actions taken by the Committee and shall submit a report to the Board pursuant to Section 209 (1) (c) of the Act. The Report shall state:- a. the number of loan applications received; b. the number and category of loans approved; c. the security obtained, if any, for such loans; d. applications denied; e. the number and amount of delinquent loans By-law 53(6): No changes By-law 53(7) The Credit Committee shall hold such meetings as the business of the Society may require but not less frequently than once per month. Due notice of such meetings shall be given to other members of the Committee by the Secretary of the Committee. By-law 53(7): No changes
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