BPWCCUL By-Laws Review 2025 – FINAL VERSION 54 EXISTING BY-LAW PROPOSED CHANGE RATIONALE Board shall take steps for the recovery of the loan or installment of a loan: (i) by applying any monies standing to the credit of members towards the payment of that debt; or (ii) any other action which the Society deems necessary including recourse to the Law Courts. New By-law 68(k) Costs incurred by the Society in its efforts to recover any overdue debt owed to it by a member may be charged to that member’s account. By-law 69 For the purpose of By-Laws 66 and 68, interest shall be deemed to be an installment of a loan and shall be deemed to be due as specified in the instrument provided for in By-Law 68 (f). By-law 69 No changes RESERVE FUND RESERVE FUND By-law 70 The Society shall create and maintain a Reserve Fund in accordance with the provisions of the Act. By-law 70 No changes By-law 71 The Reserve Fund shall not be lent to members nor be used or applied except as provided in the Act and the Regulations. By-law 71 No changes
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