CFA Society Toronto - Board

2016_CFA_SocietyToronto_BoardManual

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- 7 - 13.0 Termination of Membership 13.1 Any Member may be suspended or expelled at any time, pursuant to, or for violation of, Section 8.1 or, in the case of Associate Members, Section 8.2 of this Article. 13.2 Termination of Membership. The interest of a Member in the Society lapses and ceases to exist: a) upon death of the Member; b) when the Member ceases to be a Member by reason of resignation, suspension, or expulsion in accordance with this Bylaw; or c) if at a Special Meeting of Members, a resolution is passed to remove the Member by at least two- thirds (2/3) of the votes cast at the Special Meeting, provided that the Member shall be granted the opportunity to submit a written statement to be distributed to the Members at such meeting. 14.0 Dues 14.1 The membership dues for the Society, payable annually by July 1, shall be determined by the Board. 14.2 Each Member owes annual dues based on classification of membership. In addition to the dues set by the Society, CFA Institute shall have the right to set and collect dues for the Members' membership in CFA Institute (except in the case of Associate Members) and, if applicable, as holders of the CFA designation. 14.3 Pursuant to an agreement between the Society and CFA Institute, CFA Institute shall bill and collect membership dues for the Society (except in the case of Associate Members). 14.4 Any Member who has failed to pay the annual dues shall be automatically suspended from membership, without the necessity of any action by the Society or CFA Institute, until payment is made, at which time such Member shall thereupon be reinstated, subject to Section 4.1 d) of this Article. ARTICLE III Meetings of Members 1.0 Meetings 1.1 Unless otherwise determined by the Board, a meeting of Members shall include Regular Members only and there shall be no requirement to provide notice of any meeting to Affiliate Members or Associate Members. 1.2 The Society shall in each year hold two meetings of Regular Members (i.e., an "Annual Meeting" and an "Election Meeting"). In addition, "Special Meetings" may be held pursuant to this Article. 2.0 Annual Meeting 2.1 The Annual Meeting shall be held within Ontario on such date within six months of the end of the fiscal year of the Society and at such place and time as the Board shall determine. 2.2 At the Annual Meeting, there shall be presented to the Regular Members the audited financial statements of the previous fiscal year, together with the external auditor's report therein, both in the form and containing such information required by the Corporations Act (Ontario), as amended from time to time, and such other information or reports relating to the Society's affairs as the Board may determine. CFA Society Toronto Board Manual 2016 Page 124 of 194

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