Bylaws (2010): Difference between revisions
→Borrowing Powers
(Updated proposed bylaws.) |
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<li>Debt instruments not exceeding one third of the Society's average annual revenue over the previous 4 fiscal years may be approved by the board.</li> | <li>Debt instruments not exceeding one third of the Society's average annual revenue over the previous 4 fiscal years may be approved by the board.</li> | ||
<li>Larger debt instruments must be approved by a majority vote of members attending a General Meeting called in accordance with section 8, and in particular section 8.a.</li> | <li>Larger debt instruments must be approved by a majority vote of members attending a General Meeting called in accordance with section 8, and in particular section 8.a.</li> | ||
<li>The issue of debentures must be approved by a Special Resolution of the Society.</li> | |||
</ol> | </ol> | ||
==<li>Custody and Use of the Seal</li>== | ==<li>Custody and Use of the Seal</li>== | ||
The Secretary of the Society shall have charge of the seal of the Society, should the Society require a seal. The signature of the Secretary shall be used to authenticate the seal. | The Secretary of the Society shall have charge of the seal of the Society, should the Society require a seal. The signature of the Secretary shall be used to authenticate the seal. | ||