Resolution 2017-1 - an ordinary resolution allowing GDUC to obtain a credit card

The GDUC board is requesting that the corporation be permitted to obtain a low fee credit card to aid in financial transactions, namely the payment of conference charges, and other business related expenses, as deemed necessary for the continuation of the organization. The credit card is expected to be used in place of paper cheques, and would be used in accordance with responsible credit card management.

Whereas Article 7, Borrowing Powers, of Guide Dog Users of Canada's bylaws states:

If authorized by a by-law which is duly adopted by the directors and confirmed by ordinary resolution of the members, the directors of the corporation may from time to time:

  1. borrow money on the credit of the corporation
  2. issue, reissue, sell, pledge or hypothecate debt obligations of the corporation and
  3. mortgage, hypothecate, pledge or otherwise create a security interest in all or any property of the corporation, owned or subsequently acquired, to secure any debt obligation of the corporation.

Any such by-law may provide for the delegation of such powers by the directors to such officers or directors of the corporation to such extent and in such manner as may be set out in the by-law.

Nothing herein limits or restricts the borrowing of money by the corporation on bills of exchange or promissory notes made, drawn, accepted or endorsed by or on behalf of the corporation.

Be it resolved that Guide Dog Users of Canada obtain a low fee credit card to facilitate organizational business, and that Article 7, Borrowing Powers, of the organization's bylaws be revised as follows:

The directors of the corporation may from time to time:

  1. borrow money on the credit of the corporation in the form of a credit card

The Treasurer shall have custody and control of the credit card. The card shall be used exclusively to pay organizational expenses, and shall not be used to pay a particular expense without prior authorization from the directors of the corporation.

Nothing herein limits or restricts the borrowing of money by the corporation on bills of exchange or promissory notes made, drawn, accepted or endorsed by or on behalf of the corporation.

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