“Family Business Member” is defined as a business organization that has one or more of the following characteristics and meets the requirements of these By-laws and the Corporation as represented by its Board:
The membership fees payable by Members shall be set annually in accordance with the fee schedule approved by an Ordinary Resolution of the Board.
If membership fees of any Member are in arrears, membership may be terminated by or under the authority of the Board, if such arrears or fees are not paid within a designated period of time. If such arrears are not paid by such designated time the Board may pass an Ordinary Resolution of the Board authorizing the removal of such Member from the register of Members of the Corporation and thereupon such person shall cease to be a Member of the Corporation. Any such Member may re-apply for membership in the Corporation and the requisite membership fee must accompany their membership application.
Every Member will keep the Corporation office informed of their current address, name, and contact name of the Member.
All monies whether by way of fees, donations, charges for public admission, bequests or otherwise, received by the Corporation, shall be devoted exclusively to the objectives of the Corporation.
A membership in the Corporation is terminated when:
Members have the right to appoint an individual employed by the Member to represent them and to exercise all rights and privileges of such Member.
The Board shall have authority to suspend or expel any Member from the Corporation for any one or more of the following grounds:
In the event that the Board determines that a Member should be expelled or suspended from membership in the Corporation, the President, or such other Officer as may be designated by the Board, shall provide twenty (20) days’ notice of suspension or expulsion to the Member and shall provide reasons for the proposed suspension or expulsion. The Member may make written submissions to the President, or such other officer as may be designated by the Board, in response to the notice received within such twenty (20) day period. In the event that no written submissions are received by the President, the President, or such other officer as may be designated by the Board, may proceed to notify the Member that the Member is suspended or expelled from membership in the Corporation. If written submissions are received in accordance with this section, the Board will consider such submissions in arriving at a final decision and shall notify the Member concerning such final decision within a further twenty
(20) days from the date of receipt of the submissions. The Board’s decision shall be final and binding on the Member, without any further right of appeal.
Any Member may resign as a Member of the Corporation by delivering a written resignation to the Corporation. The resignation shall be effective upon any date or time on or after the execution of the resignation.
A Member shall remain liable for any payment of any assessment or other sum levied or which is payable by the Member to the Corporation prior to acceptance of such resignation.
Subject to the Articles, upon any termination of membership, the rights of the Member, including any rights in the property of the Corporation, automatically cease to exist.
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