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Difference between revisions of "Reviewing Your Non-profit Society's Bylaws"
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Reviewing Your Non-profit Society's Bylaws (view source)
Revision as of 05:44, 1 December 2016
, 05:44, 1 December 2016→Remuneration of directors and signing authority
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! | <b>Implications for your bylaws </b> | ! | <b>Implications for your bylaws </b> | ||
|- valign="top" | |- valign="top" | ||
| <b>Director's remuneration (effective in 2018 for existing societies) | | <b>Director's remuneration</b> (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. | | 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. | | 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" | |- valign="top" | ||
| <b>Reimbursement of expenses (effective in 2018 for existing societies) | | <b>Reimbursement of expenses</b> (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. | | Bylaws may restrict or prohibit reimbursement. Bylaws could cap reimbursement or impose conditions on payment. | ||
