Recommendations of the Members By-Laws Review Committee 74 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) DISPUTES By-law 82 82. All disputes shall be determined in accordance with the provisions of the Act or any regulations made thereunder. By-law 82 1) All disputes shall be determined in accordance with the provisions of the Act, any regulations made thereunder and these By-laws. New By-law 82(2) A pending dispute as defined by section 82 (1) of the Act and which involves a claim, legal matter or arbitration action brought against the Society for whatever reason by an elected officer or a member shall in the interest of good order and transparency restrict the eligibility of that elected officer or member to serve on the Board of Directors, Credit or Supervisory Committees while the claim, legal matter or arbitration is in process and until it has been resolved or otherwise decided. Amended to ensure the treatment and implications of disputes is clear. By-law 82 Accepted as proposed. New By-law 82(2) Accepted as proposed. Recommend additional bylaw New By-law 82(3) - Alternative Dispute Resolution. Within 30 days of its election, the Board must set up an Alternative Dispute Resolution Committee consisting of 3 members from the Board, one member each from the Supervisory Committee, Credit Committee, Legal Department, and Chief Internal Auditor. This committee shall review claims arising under New Bylaw 82 (2) and frame alternatives to open court legal battles. Using the advice of external legal By-law 82 Agree with recommendations. New By-law 82(2) Agree with recommendations. New By-law 82(3) The Society must try to minimize the number of legal open court battles in which it is involved where the details of the Society’s business is exposed to the public. This exposure can cause the Society to lose it competitive edge or significant Goodwill.
RkJQdWJsaXNoZXIy MTA2MDM=