Difference between revisions of "Reviewing Your Non-profit Society's Bylaws"

Reviewing Your Non-profit Society's Bylaws (view source)

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 !  | <b>Implications for your bylaws </b>
 |-  valign="top"
-| <b>Director’s remuneration </b>(effective in 2018 for existing societies)
+| <b>Director's remuneration (effective in 2018 for existing societies)
-| Directors can not be paid for being directors unless remuneration is authorized by society’s bylaws.
+| Directors can not be paid for being directors unless remuneration is authorized by society's bylaws.
 | If society wishes to remunerate directors for being directors, bylaws must provide authorization. Bylaws could cap remuneration or impose conditions on payment.
 | Given that in 2018, a society wishing to remunerate directors for being directors will require bylaw authorization to do so, it makes sense to consider such a bylaw now.
 |-   valign="top"
-| <b>Reimbursement of expenses </b>(effective in 2018 for existing societies)
+| <b>Reimbursement of expenses (effective in 2018 for existing societies)
-| Directors’ expenses, so long as they are reasonable, may be reimbursed.
+| Directors' expenses, so long as they are reasonable, may be reimbursed.
 | Bylaws may restrict or prohibit reimbursement. Bylaws could cap reimbursement or impose conditions on payment.
 | New model bylaws are silent. Old Schedule B model bylaws require that directors "must be reimbursed for all expenses necessarily and reasonably incurred".