1301:9-2-02 Voting by the membership.

(A) Voting by proxy or by mail ballot by members is permitted if a provision for the same is made in the credit union articles or regulations. Minimum standards for the form of ballot or proxy must be stipulated in the articles or regulations.

(B) The form of any proxy or mail ballot shall have the prior written approval of the superintendent.

(C) Irrespective of whether a vote is accomplished by actual vote, mail ballot, electronic ballot, by proxy, or other means approved by the superintendent, only qualified members may vote. Each qualified member is entitled to one vote on each matter properly submitted to the membership. The credit union may use any identifiable method or code unique to the member that verifies the member’s identification to vote.

(D) At a minimum, the form of the proxy shall provide for the date of execution, name of member, and any identifiable method or code unique to the member that verifies the member’s identification to vote; shall, in bold type, indicate whether the proxy is solicited on behalf of management; and shall clearly and impartially identify each matter or group of related matters intended to be acted upon, whether proposed by the management or by shareholders. No appointment of a proxy shall be valid after the expiration of eleven months from the time it is issued.

(E) A proxy may confer discretionary authority to vote with respect to any of the following matters:

(1) Matters of which the persons soliciting the proxy are unaware, provided that a specific statement to that effect is made in the proxy statement or form of proxy.

(2) Approval of the minutes of the prior meeting if such approval does not amount to ratification of the action taken at that meeting.

(3) Matters incidental to the conduct of the meeting.

Effective: 07/01/2006

R.C. 119.032 review dates: 03/17/2006 and 11/15/2010

Promulgated Under: 119.03

Statutory Authority: 1733.41

Rule Amplifies: 1733.13

Prior Effective Dates: 2/11/88