PEEL NON-PROFIT HOUSING CORPORATION

BY-LAW NUMBER 2-98

A by-law relating to the Term of Office for the President and the Vice-President, and to amend By-law Number 1-95, as amended, titled "A by-law relating generally to the conduct of the affairs of the Corporation"

WHEREAS By-law Number 1-95 was enacted on the 30th day of May, 1995, and relates to the conduct of the affairs of the Corporation;

AND WHEREAS the Board of Directors of Peel Living has by Resolution 98-42 adopted on the 26th day of March, 1998, authorized a by-law to amend By-law Number 1-95, as amended, to set out an 18 month term for each of the offices of the President and the Vice-President;

NOW THEREFORE the Board of Directors of Peel Living enacts as follows:

  1. By-law Number 1-95, as amended, is further amended by revising clauses 5.03 and 5.04 to read as follows:

"5.03 President – The directors shall appoint a President from amongst themselves for a term of office of 18 months. The President shall be the chief executive officer of the Corporation and when present shall preside at all meetings of the Board;

5.04 Vice-President – The directors shall appoint a Vice-President from amongst themselves for a term of office of 18 months. During the absence or disability of the President, the President’s duties shall be performed and the President’s powers exercised by the Vice-President."

 

DULY PASSED AND ENACTED at a meeting of the Board of Directors of the Corporation, duly held on the 16th day of June, 1998.

 

President

Secretary

   

 

DULY CONFIRMED by vote of Members of the Corporation, duly held on the 16th day of June, 1998.

 

President

Secretary