diff --git a/resolutions/resolution-008-signed.pdf b/resolutions/resolution-008-signed.pdf new file mode 100644 index 0000000..6422752 Binary files /dev/null and b/resolutions/resolution-008-signed.pdf differ diff --git a/resolutions/resolution-008.md b/resolutions/resolution-008.md new file mode 100644 index 0000000..3a83bc7 --- /dev/null +++ b/resolutions/resolution-008.md @@ -0,0 +1,160 @@ + +# RESOLUTIONS OF THE BOARD OF DIRECTORS + +Resolution in writing of the board of directors of Hypha Worker Co-operative Inc. (the "Co-operative") held on this 26th day of September, 2024. + + +## BACKGROUND + + + +1. The members have elected two new directors for the Co-operative. +2. The directors have determined that it is in the best interest of the Co-operative to appoint certain officers for the Co-operative. +3. Financial statements for the fiscal year of the Co-operative ending June 30, 2024 (FY5) have been prepared and presented to the members and Board. +4. The Co-operative wishes to allocate $ 459,660 of a $ 726,814 surplus to special allocations. +5. Of the remaining surplus, the Co-operative wishes to allocate $ 53,431 to member accounts +6. Of the remaining surplus, the Co-operative wishes to allocate $ 213,723 to reserve accounts. +7. The Board may pay out a fixed percentage of member loans held by the Co-operative. +8. The Board may set an interest rate to apply to member loans held by the Co-operative. +9. Two bylaw amendments were proposed and accepted by membership. + + + + +## IT WAS RESOLVED THAT + + + +1. The following individuals are confirmed as directors of the Co-operative for a term of two years or until replaced: + 1. Udit Vira; and + 2. Cameron Fyfe + + + + + +2. The following individuals are appointed and confirmed as officers of the Co-operative for a term of two years or until replaced: + 1. Cameron Fyfe: Treasurer +3. Financial statements for the fiscal year of the Co-operative ending June 30, 2024 are approved. +4. $ 459,660 has been allocated to special allocations for FY5. +5. $ 53,431 has been allocated to member accounts for FY5. +6. $ 213,723 has been allocated to reserve accounts for FY5. +7. No member loans will be paid out at this time. +8. The interest rate on member loans remains at 0%. +9. The directors approve an amendment of the bylaws for adoption: + + + +*Section 2.4 Membership, Probationary Members* + +From: + + +``` +Once the probationary member has worked the required number of hours, +they are entitled to apply for membership in the Co-operative. + +Application for membership in the Co-operative shall be in writing to +the board of directors. The Co-operative shall provide application forms +for this purpose. + +Upon an application for membership, the members shall decide whether to: + +A. unanimously accept the application, in which case a resolution is + passed recommending to the board of directors that the probationary + member will become a full member as soon as they meet all of the + membership requirements as described in section 2.1; or + +B. reject the application, in which case a resolution is passed by a + majority of two-thirds on whether to recommend to the board of + directors to terminate the probationary member's employment with the + Co-operative. + +If the worker does not wish to become a member in the Co-operative, they +may decline to apply for membership and continue to work for the +Co-operative as a non-member at the board's discretion. +``` + + +To: + + +``` +Once the probationary member has worked the required number of hours, they are entitled to apply for membership in the Co-operative at any time. + +If the worker does not wish to become a member in the Co-operative, they +may decline to apply for membership and continue to work for the Co-operative +as a non-member at the board's discretion. If the worker declines to apply +for membership, they remain eligible to apply for membership at a future time. + +Application for membership in the Co-operative shall be in writing to the board +of directors. The Co-operative shall provide application forms for this purpose. +Upon an application for membership, the members shall vote on whether to accept +the application: + +A. if the vote to accept is unanimous, a resolution is passed recommending to + the board of directors that the probationary member will become a full member + as soon as they meet all of the membership requirements as described in + section 2.1; or + +B. if the vote to accept is not unanimous, the application is rejected. + +If the application for membership is rejected, the members shall vote on a +resolution, which is passed by a majority of two-thirds, to recommend to the board +of directors to terminate the probationary member's employment with the Co-operative. + +If the resolution does not pass, the worker may continue to work for the Co-operative +as a non-member at the board's discretion. If their employment continues, they are +eligible to apply again in the future at the board's discretion. +``` + + +*Section 3.7 Member Meetings, Decision-Making and Voting* + +From: + + +``` +Each active member of record at the time of the meeting is entitled +to one and only one vote on any matter requiring membership voting. +Voting on resolutions happens by open ballot with abstensions are +recorded only as required. All elections to the board shall be by +secret ballot. +``` + + +To: + + +``` +Each active member of record at the time of the meeting is entitled +to one and only one vote on any matter requiring membership voting. +Voting on resolutions happens by secret ballot. +``` + + + +## CURRENT STATE OF THE CO-OPERATIVE + +Directors: Alexandra Michaelides, Cameron Fyfe, Dante Sanchez, Udit Vira + +Officers: + + + +* President: Dante Sanchez +* Vice president: Vacant +* Treasurer: Cameron Fyfe +* Secretary: Alexandra Michaelides + +This resolution may be executed in counterparts. Facsimile, scanned, or digital signatures are binding and are considered to be original signatures. + +Dated in the Province of Ontario on the 26th day of September, 2024. + +X______________________________ + +Dante Sanchez + +X______________________________ + +Alexandra Michaelides