B-6 BY-LAW 26 – INSTITUTE AWARDS AND RECOGNITION

Sponsor:Board of Directors | Disposition:Defeated

26.6 Institute Scholarship Program AGM 2008 (e)

26.6.1 The Professional Institute will provide scholarships for post-secondary education through its Scholarship Program. AGM 2008 (e)

26.6.1.1 The Scholarship Program will be governed and administered by the Professional Institute Legacy Foundation. AGM 2008 (e)

26.7 Institute Scholarship Fund

~~26.7.1 Institute shall establish a fund which shall be used exclusively to provide scholarships for post-secondary education. AGM 1999 (e)~~

26.7.2 The fund shall be created from voluntary contributions of subordinate bodies and other sources and all accrued interest will remain part of the fund. No contributions from the general funds of the Institute shall be permitted. AGM 1999 (e)

26.7.3 The ~~Scholarship~~ Legacy Fund will be held in trust, governed and administered by the Professional Institute Legacy Foundation as a part of the Institute Scholarship Program. AGM 2008 (e)

26.7.4 Recipients of scholarships from the Institute Scholarship Fund Program shall be children or grandchildren of Regular members or Retired members in good standing. “Children and grandchildren” shall be deemed to include the children or grandchildren of a member’s spouse or common-law spouse, stepchild, or ward of the member. For the purposes of this By-Law, “member” shall include deceased members in good standing at the time of their death. AGM 2008 (e)

26.7.5 The rules governing the Institute Scholarship Fund Program shall be adopted by the Board. and included in the Regulations. AGM 2008 (e)

Resolutions Sub-Committee Comments- The purpose of this set of amendments is to reflect the evolution of the Fund, the Scholarship Program and of the creation of the Legacy Foundation.

The evolution of the Scholarship Program since the creation of the Legacy Foundation, having as its main purpose the administration and management of the entire Scholarship Program, has given rise to a need to revise Institute’s By-Laws and regulations to ensure that the rules governing the Program bind the appropriate corporation, in this case, the Legacy Foundation.

To address the above concerns, the Institute, as the sole member, has issued guidelines to the Legacy Foundation. The information removed from the By-Laws is fully captured by these guidelines.