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Board agrees to circulate bylaws and operating agreements for review after members raise concerns
Summary
Members and public asked when bylaws and operating agreements were last reviewed; participants agreed the operating agreement should be circulated and a legal review considered before any changes to the bylaws or investment policy.
Board members discussed the timing and frequency of bylaws and operating agreement reviews. Some members said the operating agreement must be reviewed annually; others said they were not aware of recent reviews. One participant recommended a legal review before any substantive changes.
The board agreed staff would distribute the operating agreement and bylaws for review and that members should read them and bring concerns back at the next scheduled meeting. The Chair described the first step as circulating what's "on the books" and the group agreed to examine those documents before considering changes.
