Title
Draft Resolution - Review and Approval of Policy for Establishing Procedures for Disposition of All or a Substantial Portion of the Cooperative’s Property - D Ballard
Other Info
Submitted By: Mark Beyer
Department: Compliance and Regulatory
Financial Impact and Cost/Benefit Considerations:
Discussion
Pursuant to the Board’s Policy on Policies, the Board routinely reviews all Board policies as part of its policy management program. Under the Board’s approved review schedule, the Board may now consider review of the Policy for Establishing Procedures for Disposition of All or a Substantial Portion of the Cooperative’s Property. The purpose of the Policy is to establish the procedures to (1) identify requirements for an unsolicited proposal to be considered as a Qualified Offer; and (2) identify the process by which a Qualified Offer will be evaluated.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS that pursuant to its regular review of Board policies, the Board has reviewed and adopts the Policy for Establishing Procedures for Disposition of All or a Substantial Portion of the Cooperative’s Property, with such changes, if any, as were approved by the Board; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designees, are hereby authorized to take all such action as may be necessary to implement this resolution.