Rules of the Vancouver Renewable Energy Cooperative

Rules of the Vancouver Renewable Energy Cooperative (2006)

 

Contents

(Formatting note: This is a a copy of the rules with the changes by special resolution of April 18, 2006 integrated. For clarity, the original section numbers still follow most of the current section numbers in plain type. The original table of contents is at the end of this document. The below is the current one.)

 

 

Rules of the Vancouver Renewable Energy Cooperative. 9

Part 1 — Interpretation.. 9

1)     Definitions  9

2)     Cooperative Association Act definitions apply  9

3)     Interpretation  9

Part 2 — Membership.. 9

4)     Open membership  9

5)     Member Commitment 9

6)     Application for membership  9

7)     Age qualification  9

8)     Minimum share requirement 9

9)     Approval of application  9

10) Effective date of membership  9

11) Withdrawal from membership  10

12) Effective date of withdrawal 10

13) Notice of death or bankruptcy of individual member 10

14) Notice of bankruptcy, liquidation or dissolution of eligible organization member 10

15) Grounds for termination of membership  10

16) Appeal of termination of membership  10

17) Effect of termination, withdrawal or other cessation of membership  10

Part 3 — Joint Membership.. 10

18) Joint membership  10

Part 4 — Share Structure. 11

19) Authorized share structure  11

Part 5 — Payment for Shares. 11

20) Payment for shares  11

21) Calls on unpaid amount of membership shares  11

22) Interest on unpaid call 11

23) Dividends or interest on membership shares  11

24) Notice requiring payment of call 11

25) Failure to comply with notice  11

26) Effect of forfeiture  11

Part 6 — Share Certificates. 12

27) Entitlement to share certificate  12

28) Form of share certificate  12

29) Manual signing of share certificates  12

30) Lost or destroyed certificates  12

Part 7 — Transfer of Shares. 12

31) Restrictions on Transfer of Shares  12

32) Requirements of instrument of transfer 12

33) Form of transfer 12

34) Effective date of transfer of shares  13

35) Registering a transfer 13

36) Effect of lien on transfer or assignment of shares  13

Part 8 — Transmission of Shares. 13

37) Procedure on death of a member 13

38) Registration of share prohibited if person entitled is not a member 13

39) Redemption of shares  13

Part 9 — Redemption of Shares. 13

40) Association authorized to purchase and redeem its shares  13

41) Redemption of shares to be made ratably  14

42) Sale and voting of redeemed shares  14

43) Redemption of shares on withdrawal of membership  14

44) Redemption of shares on termination of membership  14

45) Entitlement to redemption  14

46) Amount paid on redemption  14

Part 10 — Register of Members and Register of Investment Shareholders. 14

47) Register of Members and Register of Investment Shareholders  14

Part 11 — General Meetings of the Association.. 14

48) Annual general meetings  14

49) Business at annual general meeting  14

50) Order of business at annual general meeting  15

51) Special business  15

52) Special general meetings  15

53) Provision for 2 or more general meetings for the same matters  15

54) Record date  16

55) Notice of general meetings of the Association