As a precaution to the COVID-19 outbreak the Annual General Meeting has been postponed until further notice.
ANNUAL AND SPECIAL GENERAL MEETING
BCM Insurance Company
TAKE NOTICE that an Annual and a Special General Meeting of the Members of BCM Insurance Company (Bertie & Clinton Mutual Insurance Company)will be held at the BCM Insurance Company Head Office, 1003 Niagara Street, Welland, Ontario, on the 31st day of March, 2020 at the hour of 10:30 a.m. for the purposes of:
- To receive the Annual Report for the year ending December 31, 2019;
- To appoint auditors for 2020;
- To consider and if thought fit, to confirm amendments to the Company’s By-law No. 1
(which By-law relates generally to the transaction of the business and affairs of the Company) passed by the Board of Directors on January 21, 2020. The amendment to section 21(d) which deals with giving notice of intention to seek election as a director will not become effective until after confirmation by the Members at the Meeting. A summary of the substantive amendments follows. A complete text of the By-law No. 1 with the amendments incorporated amendments is available for review by all members at the head office during regular business hours, or will be provided upon request.
- To elect three Directors for a three (3) year term.The Annual Financial Statements for the Company for the year ending December 31, 2019, may be viewed on the company’s web site at www.bcminsurance.com. Members may obtain a copy of the Annual Statements by sending a written request to the Company’s office at least 14 days before the Meeting or obtain a copy at the Meeting.
Summary of Substantive Amendments to By-law No. 1
(The numeric references herein correspond with the section numbers of By-law No. 1)
10 Notice of Members Meetings to be given in the manner prescribed by the Corporations Act.
12 The Annual Statement is to be published on the Corporation’s website
21(a) To qualify to be elected a director, must pay minimum annual premium of $500.
21(d) Nomination Committee to compile a list of nominees for election to board no later than February 15. Persons seeking election must file notice with the Nomination Committee by January 31.
26(e) If there is a vacancy on the Board which occurred before the end of the term it shall be filled by election separate from the election to fill expired terms on the Board, and nominees shall specify in their notice if they are seeking election to fill the remaining portion of the vacancy, or a three year term.
31 Chair of Board to chair Members’ Meetings.
44 CEO or other persons authorized by the Board may carry out investments.
48 The CEO or persons authorized by the CEO to accept or refuse applications and cancel policies
49 The CEO with input from the Board is authorized establish policies for adjusting and settling claims
51 Conditions for declaring refunds from surplus amended. Stale dated cheques will not be replaced.
• References to President and Vice-President changed to Chairperson and Vice-Chairperson
• References to Manager changed to President/CEO