They can be amended only by a decision of the members at a general meeting. Members under the age of 18 will receive notice of the AGM and can register a valid proxy vote providing they will be 18 on or before the day of the meeting. Election of Directors Members elect the directors of the Society. All the directors must be members of the Society. Typically, a society will have a board of between 7 and 15 directors.
Members can nominate candidates and stand for election as directors.
Directors' responsibilities are onerous and complex. They must take account of the interests of all of the investing and borrowing members. Members therefore need to consider carefully before deciding to stand for election to the board or nominating a candidate. A member standing for election can ask the Society to circulate an election address to the members of the Society. A society will provide any member on request details of the duties of directors and the nomination and election procedures.