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UPDATE 10/13/07: These bylaw changes were tabled until the next Annual Meeting of Members on Oct. 11, 2008
Notice of bylaw changes to be considered by GreyStone Power Members on Oct. 13, 2007
The members of GreyStone Power Corporation (the "Cooperative") are hereby notified that proposed amendments to the Cooperative’s Bylaws will be voted on at the 2007 annual meeting of the Cooperative’s members, which will take place at the Cooperative’s Headquarters in Douglasville, Georgia on Saturday, Oct. 13, 2007. The purpose for, a summary explanation of, and the full text of the proposed Bylaws are set forth below.
If you would like to review the language of the existing bylaws, copies can be obtained at no charge from GreyStone’s main office, you may view them online by clicking here or you may request them from GreyStone's office by calling 770-942-6576.
Purpose: In August, the Cooperative’s Nominating Committee discussed its desire to accomplish two principal objectives: (1) to make it easier for members to participate in Cooperative elections, and (2) to ensure that the Cooperative is able to maintain an effective Board of Directors. The Nominating Committee then adopted the proposed Bylaw revisions set forth below, and asked that they be submitted for consideration by the members at the annual meeting.
Summary Explanation: If adopted, the first set of Bylaw proposals will require that all future contested director elections be decided by mail voting. To implement this proposal, the Bylaws must be changed to, among other things, establish requirements for the form and mailing of the ballots, revise the date by which nominations must be made to accommodate the mailing and return of ballots before the annual meeting, and authorize the Credentials and Elections Committee to oversee the mail balloting process.
If adopted, the second set of Bylaw proposals will permit the Board of Directors to remove a director from office, with or without cause, by a two-thirds (2/3rds) vote of the Board of Directors. Vacancies created in this manner would be filled by the Nominating Committee.
To view the full text of the bylaws to be voted on with a comparison of what has been changed, click here.
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