The General Meeting of the Co-operative Corporations’ Board of Directors will usually be scheduled annually. Its purpose is to adopt, in view of a state of general public health concern, certain regulations applicable to certain co-operative board member contracts, to the general meetings of all co-operative corporation shareholders which are to be regularly held by the board at the general meeting and to those other mandated meetings of all co-operative corporation shareholders which are also to be regularly held by the board at the general meeting. At this meeting, all members of the corporation are entitled to vote on such matters as resolutions to adopt a certain policy or resolution, or any matter deemed necessary for the betterment of the company and its ability to continue as a going concern. The officers of the corporation are also present at the meeting and are responsible for the proper proceedings at such meeting. The officers are also expected to discharge their duties.
The officers will decide, with respect to who among the directors present will preside over the meeting. This person is generally the vice-chairman or the general manager of the firm. In most cases (if not all) the board will consist of 12 members; two from each city and one from out of province if there are such, one independent director and two alternate directors, each of whom is not a shareholder. One independent director is the only non-financial member of the Board. All other members are financial members.
The purpose of the General Meeting of Co-operatives held annually is for the general purposes noted in the by-laws of almost every eligible corporation. These purposes are typically to: facilitate the making of decisions by the members with respect to the company’s management and affairs; set up and maintain an appointed body, commonly called a Syndicate, which actually performs the tasks of Board of Directors (by-laws specify who can be declared to be a member of the Board); issue decisions; appoint officers and take other actions that are necessary and proper for carrying out the business of the corporation and its business relationships with other entities. The General Meeting of Co-operatives is also called a General Meeting of Members of a Society, Business Association, Business Enterprise or Professional Association. It is the place where the corporations make their resolutions and adopt any important strategic plans for the betterment of the company and its various aspects.
Generally, the general meetings are held on a date chosen by the members of the Syndicate. The General Meeting of Co-operatives, unlike most of the other general meetings, does not bind the co-owner or other shareholders to anything. It is the responsibility of individual members of the Syndicate, acting in their own interest, to determine the outcome of the meeting.
In general, decisions are made at the General Meeting of Co-operatives by voting a majority or in some instances a super-voting majority, a procedure that allows one person to have a greater say in the decision-making process than a majority of people. A super-voting majority is a higher number of votes than a majority. The decisions made at the General Meetings of Co-operatives are subject to change by the General Meeting of Syndicates at regular intervals. This process helps keep the co-ops viable over the long term.
The General Meeting of Co-operatives is also known as the General Meeting of Business Owners. When you participate in a syndicate you become a general partner and you are then able to participate in the management meetings of the Syndicate and have a vote in any matter that affects the business. You will also be required to attend all meetings of the Syndicate and reports of meetings are sent to you by the General Meeting of Co-operatives. If you feel you have a stake in the business, you may wish to bring something to the General Meetings of Co-operatives that you have a direct interest in.
There are various resolutions that can be voted on at the general meeting by shareholders. These resolutions will go before the members of the Syndicate, which are listed in the ledger of the Co-op, and then be voted on by the general meeting. At most meetings, all shareholders present will have the opportunity to raise a matter of concern before the Management Board of the Co-op, which is calling a “covered period”. If a topic is brought forward to the Management Board during a covered period they will make their decision on it at that time.
All members have the right to question matters that come up before the General Meeting of Co-operatives and this is generally done by sending an email to the Managing Partner with your questions. Members can make suggestions by posting questions on the appropriate forums set up for such purpose. You do not need to attend these meetings but if you wish to participate, say by raising a point of concern, you should send an email to the Managing Partner. The general meeting of co-owners is called by the Management Board and is usually held at a mutually convenient time. It is occasionally called by the Managing Partners themselves. The general meetings are generally called to have the whole business community to participate in the business of the Co-op.
