All resolutions should address actions and/or issues that are within the scope of I3 Investment Cooperative business and should be made in the best interests of I3 Investment Cooperative and its members as a whole.

 

Any Coop Member is entitled to propose a resolution. The amount of member support required to submit a resolution depends on how significant the change or idea is behind a resolution.

If at least 2/3 of directors agree, the Board may reject a proposed resolution should it be deemed contrary to the best interests of I3 Investment Cooperative and its members. The Board must provide reasons for rejecting any proposed resolution.

MEMBER RESOLUTIONS

Types of Resolution

There are three types of resolutions, each with different outcomes, submission requirements and voting methods. So how is the type of resolution decided? The type of resolution gets determined by the type of action a resolution is intended to achieve.

The three types of resolutions, as defined by our Rules of Cooperation and the BC Cooperative Association Act, are:

Special Resolutions

Ordinary Resolutions

Other Resolutions

Special Resolutions

The BC Cooperative Association Act specifies that special resolutions are required for actions such as (but not limited to):

  • Amending I3 Investment Cooperative Memorandum and Rules of Cooperation;

  • Amalgamating with other organizations;

  • Amending rules (including changes to terms of existing classes of shares, or addition of new classes);

  • Spending or committing in security of borrowings “all or substantially all of the co-op’s undertakings”;

  • Continuation into another province;

  • Change in the corporate structure (transition to a Company or Society, for example) and/or revenue structure;

  • Dissolution of the coop.

Special resolutions are legally binding on I3 Investment Cooperative.

Submitting Special Resolutions

Any member who wants to bring forward a special resolution must do so in writing to our Head Office along with the names, member numbers, and signatures of 3 supporting I3 Investment Cooperative members. Proposals must be received by I3 Investment Cooperative 150 days prior to the AGM.

Voting on Special Resolutions

Special Resolutions voted on by the members during the annual Board of Directors Election. They will require a 75% majority, voting in favour, to pass.

 

Ordinary Resolutions

The BC Cooperative Association Act specifies that ordinary resolutions are required for actions such as (but not limited to):

  1. Appointing and removing auditors

  2. Providing direction to liquidators

Ordinary resolutions are legally binding on I3 Investment Cooperative.

Submitting Ordinary Resolutions

Any member who wants to bring forward an ordinary resolution must do so in writing to our Head Office (care of the Governance team) along with the names, member numbers, and signatures of 25 supporting I3 Investment Cooperative members. Proposals must be received by I3 Investment Cooperative 150 days prior to the AGM.

Voting on Ordinary Resolutions

Ordinary Resolutions are advanced to the membership for consideration during the annual Board of Directors Election. They require a simple majority (over 50%), voting in favour, to pass.

 

Other Resolutions

The BC Cooperative Association Act specifies that ordinary resolutions are required for actions such as (but not limited to):

  • Appointing and removing auditors

  • Providing direction to liquidators

Ordinary resolutions are legally binding on I3 Investment Cooperative.

Submitting Ordinary Resolutions

Any member who wants to bring forward an ordinary resolution must do so in writing to our Head Office (care of the Governance team) along with the names, member numbers, and signatures of 25 supporting I3 Investment Cooperative members. Proposals must be received by I3 Investment Cooperative 150 days prior to the AGM.

Voting on Ordinary Resolutions

Ordinary Resolutions are advanced to the membership for consideration during the annual Board of Directors Election. They require a simple majority (over 50%), voting in favour, to pass.

 

If you have any questions about how resolutions at the I3 Investment Cooperative work, please email info@the-i3.com