Beaver Creek Housing Cooperative

5.1: Powers of the Members (7.5.1)

1. The Board runs the business of the Co-op. The members do not do this directly. However, the powers of the members include:
   • (a) electing the Board of Directors under Article 6.4 of this By-law
   • (b) removing directors under Article 6.13 (Removal of Directors) of this By-law
   • (c) approving the budget and housing charges under Article 4 (Setting Housing Charges) of By-law 8
   • (d) requisitioning directors to act under Article 5.2 (Requisition for a General Meeting) of this By-law; and

4.1: Annual meetings (7.4.1)

Annual meetings must be held no later than:

• (a) 15 months after the last annual meeting; or
• (b) 6 months from the end of the Co-op's fiscal year.

4.2: Regular General Meetings (7.4.2)

The Board must call regular General Meetings at least twice a year. As nearly as is convenient, the meetings of members shall be spaced at equal intervals throughout the year.

4.3: Special General Meetings (7.4.3)

3.1: Membership (7.3.1)

To become members of the Co-op, applicants must be approved by the Board and move in to the Co-op.

3.2: Applications for Membership (7.3.2)

1. Persons must apply for membership in writing on the form that the Co-op provides.
2. The completed application must be accompanied by the lifetime membership fee as stated in the Articles of Incorporation.
3. If the applicant is not approved for membership, the membership fee will be refunded.

2.1: Aims and Objectives (7.2.1)

The Co-op provides housing to its members on a Co-operative basis and to further the co-operative principles and the betterment of society. This is done without the purpose of gain for its members.

2.2: Head Office (7.2.2)

The head office of the Co-op shall be located in the Regional Municipality of Waterloo in the Province of Ontario.

1.1: Priority of this By-law (7.1.1)

1. This by-law repeals By-law #1. Any future By-law can only amend this By-law if the amending resolution states that it is doing so.
2. If there is a conflict between documents, the documents will govern in the following order
   • First, the Ontario Co-operative Corporations Act (“the Act”)
   • Second, the Articles of Incorporation
   • Third, By-law #11, A Special Irrevocable By-law
   • Fourth, By-law # 8, the Occupancy By-law
   • Fifth, the rest of this By-Law
   • Sixth, other By-laws

This By-law contains the rules under which Beaver Creek Housing Co-operative (Waterloo) Inc. (herein after called the “Co-op”) is organized. The Ontario Co-operative Corporations Act (the “Act”) regulates the Co-op. Certain parts of the Act contain rules which are not included in this By-law. Members should refer to the Act when questions come up.