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Special Resolution

WHEREAS the Board and membership of Rapport Credit Union find it expedient to reduce the size of Rapport’s Board to ten (10) directors;

  1. Section 4.01 of the Credit Union’s By-law No. 1, as most recently amended by confirmation of the membership of the Credit Union on Wednesday, April 17, 2019, be hereby further amended by repealing section 4.01 thereof, and replacing it with the following:

    Number of Directors and Quorum
    4.01

    1. Number – The Board shall consist of ten (10) directors. At the election of directors following the confirmation of this amendment by the membership of the Credit Union on April 14, 2020, there shall be three vacancies filled, each of them for three-year terms.

    2. Quorum – The quorum for the transaction of business at any meeting of the Board shall be a majority of the Board.

The full text of the bylaw amendment is available at any office of the Credit Union upon request.

 

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