The Member-Funded Question

November 28, 2018 marks the deadline by which all BC Societies must transition under the new Societies Act. If a Society fails to transition by this date they risk being involuntarily dissolved by the Corporate Registry. 

While it once made sense to undertake a comprehensive review of a Society's bylaws in conjunction with the transition process, that time has passed. BC Societies, you now have five months to transition or risk being struck from the registry.

Completing the transition process does not need to be difficult. The only matter that absolutely needs to be considered prior to transitioning is whether the Society might benefit from becoming a member-funded society. Most societies won’t qualify, however, those that do have the opportunity to escape many of the more onerous provisions of the new legislation. If a society does qualify but fails to properly claim the designation upon transition, the only way to obtain this designation going forward would be by court order; which can be costly and time consuming.

Becoming member-funded also requires a special resolution, which in turn may require calling a general meeting of members, so don't leave this to the last minute. If you have any questions about whether the Society you represent may qualify as member funded, get in touch.

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