Information about legal compliance Societies Act for non-profits in British Columbia.
Your non-profit's bylaws can require the notice be sent between 7 and 60 days before the AGM. Many bylaws use 14 days.
However, if your non-profit's bylaws don’t say, the default in the Societies Act is between 14 and 60 days before the AGM.
A fiscal year is a one-year period of time that a non-profit uses for accounting purposes and preparation of its financial statements.
For example, non-profits have their fiscal year aligned with the calendar year (January 1 to December 31) or government year end (March 31).
Other non-profits set their fiscal period to align with a natural break in their operations, such as a summer camp with a fiscal year of September 1 to August 31.
Official records are the documents a non-profit must keep, either in digital or paper format, under sections 20(1) and 20(2) of the Societies Act.
The official records a non-profit must keep under section 20(1) are:
The statement of directors is an official record that must be kept in the non-profit's records, either digitally or in paper form; this is a requirement of section 20 of the Societies Act.
This document used to be called the Annual Report. It is a statement that includes the names of the current directors of the non-profit and an address for each director. It also includes the registered address of the non-profit. The registered address is usually the place where your non-profit receives mail and where records can be accessed/located.
By remove, we mean the process of taking someone off your non-profit’s board so they are no longer a director of the non-profit.
By checking its bylaws.
A director’s term is the time the director is allowed to sit on the board until they must be re-elected, be re-appointed, or step down.
A director’s term begins when the director is either elected or appointed to the board.
A director’s term ends when the director must either conclude their time on the board or seek re-election or re-appointment. This should be set out in your non-profit’s bylaws.