To be eligible to vote on the special resolution, a member must be nineteen (19) years or older and be a member in good standing as of September 30, 2021. A member in good standing means a member who, at the date on which good standing is determined:
- has purchased, paid for and holds a minimum of ten (10) Class “A” Membership Equity Shares in Spruce; and
- is not more than ninety (90) days delinquent in any obligation to Spruce.
In accordance with Spruce’s Rules and the Credit Union Incorporation Act, a member of Spruce who is not an individual and:
- is incorporated may be represented and vote at the meeting by an individual who is not a member of Spruce; or
- is an unincorporated association may be represented and vote at the meeting by an individual who is a member of Spruce.
In both cases, the incorporated or unincorporated member must provide written authorization to Spruce indicating which individual will be voting on behalf of the incorporated or unincorporated member.
Eligible members are entitled to cast one (1) ballot. Junior members are not eligible to vote.