Recommendations of the Members By-Laws Review Committee 67 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) DIVIDEND AND BONUS By-law 73 73. All dividends and bonus shall be credited to members’ deposit accounts, and shall be calculated on the minimum quarterly balance provided always that a member shall be deemed to have one fully paid share for each $5.00 paid in before the end of the preceding financial year. By-law 73 No changes. By-law 73 No changes were recommended by the Committee. No need to change. DIVIDEND AND BONUS By-law 74 74. The Society may make contributions to any charitable purpose or to a common good fund if a dividend of not less than four percent (4%) has been approved. By-law 74 No changes. By-law 74 No changes were recommended by the Committee. No need to change. DIVIDEND AND BONUS By-law 75 75. The remaining net profits of the Society may be distributed as a bonus among the members who have borrowed from the Society during the accounting year in proportion to the interest paid by them during the year. By-law 75 No changes. By-law 75 No changes were recommended by the Committee. No need to change. INVESTMENTS AND FUNDS By-law 76 76. The Society may invest its funds as provided by the Act. By-law 76 No changes. By-law 76 No changes were recommended by the Committee. No need to change.
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