Notice of the Annual and Special General Meeting
The Annual and a Special General Meeting of the Cayuga Mutual Insurance Company will be held at 10:30am on the 19th day of March 2020, at Ruthven Park 243 Haldimand Hwy # 54 , Cayuga, for the following purposes:
- To receive the Annual Financial Statements and Auditors’ Report for the year ended December 31st, 2019. The Annual Statements will be available on the Company’s website at www.cayugamutual.com and a member may request a copy by contacting the head office in Cayuga, Ontario at least 14 days before the Meeting.
- To consider and if thought fit, to adopt, with such amendments as may be made at the Meeting, those amendments to the Company’s By-law # 1 passed by the Board of Directors on November 21, 2019. The amendments to section 21(c) will not become effective until after confirmation by the Members at the Meeting. A summary of the amendments follows. A complete text of By-law # 1 showing the amendments is available for review by all members at the head office during regular business hours or will be provided upon request.
- To appoint Auditors for 2020;
- To elect three (3) Directors for a three (3) year term. Directors whose terms will expire are Tim Montague, Jeff Potter and Walter Hyslop, all of whom are eligible for re-election. Any policyholder wishing to seek election or reelection as a director must file a nomination form with the Secretary of the Corporation at least thirty (30) days in advance of the annual meeting.
- To elect one (1) Director for a two (2) year term to fill an interim vacancy. The nominating committee recommended Michael Horvath to complete this term and the Board of Directors approved this appointment effective November 21, 2019. Mr Horvath has filed his intention to seek election. Any policyholder wishing to seek election as a director for this position must file a nomination form with the Secretary of the Corporation at least thirty (30) days in advance
of the annual meeting.
- To transact any such further business that may properly come before the meeting.
Summary of Amendments to By-law #1
(The numeric references herein correspond with the section numbers of the By-law as amended)
- (c) Nomination procedure for persons seeking election as a director added. Notice of intention to seek election to be filed no less than 90 days prior to the Annual Meeting
- If there is to be an election at an Annual Meeting to fill an interim vacancy on the Board the election shall be separate and candidates must give notice of which position on the Board they are seeking election to
- Board Chair to chair Members’ Meetings
- Persons authorized by the Board may execute documents on behalf of the Company.
- Withdrawals and deposits from and to Bank, granting receipts, approving payment of accounts, to be done by persons authorized by the Board.
- Forms and Insurance contracts to be approved by authorized persons
- Risks may be reinsured in accordance with the Insurance Act.
- What was section 52, dealing with duties of the Manager, deleted
- Refunds from surplus may be declared upon terms determined by Board.
- References to President, Vice-President and Manager updated throughout.
- Section numbers of By-law renumbered as needed.