Below are the proposed amendments to the BICA Bylaws for review and voting at the 2025 AMM:
1. In reference to Article 5 – Protection and Indemnification
The wording, “To the extent that the Association’s insurance covers the claim,” shall be deleted from items 5.2 and 5.3.
2. In reference to Article 4 – The Board of Directors Under 4.10, the wording, “a two-thirds majority“, which is referring to the number of votes cast at a Meeting of the Members necessary for passing a resolution to remove any elected Director before the expiration of their term, shall be deleted and replaced with, “50%+1“. This change is in accordance with the Ontario Not-for-Profit Corporations Act, 2010 (ONCA).
Bay Of Islands Community Association