PROPOSED BYLAW CHANGE The Board of Directors suggests a revision to the Bylaws of Bloomington Cooperative Services (BCS). The Board approved this change on June 7th, 2023 to allow Owner-members (OMs) who have lapsed in payments to become active OMs by resuming payments versus requiring full payment of balance due. The Board feels this change will encourage ownership by being more accessible to all income levels and residency patterns. Additionally, it is manageable for staff at the register.
Article 2.7 currently states:
2.7 Inactive Status: An owner-member who does not vote and/or patronize the Cooperative for more than three (3) consecutive years shall be placed on inactive status. An owner-member who becomes delinquent by ninety (90) days in meeting his or her equity investment agreement, or an owner-member who cannot be reached at either the US postal address or email address shown in the records of the Cooperative shall also be placed on inactive status. An owner-member in inactive status may return to active status only upon making full payment of all past-due amounts, ensuring that the Cooperative has current contact information, complying with the responsibility of patronizing and/or voting and, in the case of delinquency, by paying a reinstatement fee, if any, as determined by the Board of Directors. References in these bylaws to the rights and entitlements of owner members shall be understood to refer only to active owner-members.
We ask that you approve the bolded change in the first sentence of the second paragraph to: 2.7 Inactive Status: An owner-member who does not vote and/or patronize the Cooperative for more than three (3) consecutive years shall be placed on inactive status. An owner-member who becomes delinquent by ninety (90) days in meeting his or her equity investment agreement, or an owner-member who cannot be reached at either the US postal address or email address shown in the records of the Cooperative shall also be placed on inactive status. An owner-member in inactive status may return to active status only upon resuming payments as determined by the board, ensuring that the Cooperative has current contact information, complying with the responsibility of patronizing and/or voting and, in the case of delinquency, by paying a reinstatement fee, if any, as determined by the Board of Directors. References in these bylaws to the rights and entitlements of owner members shall be understood to refer only to active owner-members. The complete BCS Bylaws are on the Board of Directors page of the Bloomingfoods website. Please direct any questions to boardinfo@bloomingfoods.coop.
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