Bylaw Amendment on Board Compensation Passes; Voting Opens for Compensation Determination Amount
Our 2024 Oneota Co-op Board of Directors ballot contained one additional vote – that of choosing whether the Co-op should proceed with a bylaw amendment regarding method of board compensation.
A three-fourths majority was required for amendment passage. The bylaw amendment passed with 389 votes to approve and 31 votes to deny. A total of 428 votes were cast; those abstaining numbered eight.
The Oneota Co-op Board Compensation Committee proposes the following form of board compensation to take effect as of the April 2024 regular board meeting:
“Directors contributing productively to the Board’s work as defined by policy G4 – Board Members’ Code of Conduct – shall be compensated by a $150 per month Oneota Co-op gift card.”
To view the complete G4 – Board Members’ Code of Conduct policy click this link.
A vote of “Yes” will be for the proposed board compensation as outlined above.
A vote of “No change” will deny this proposed change, and will mean that board member compensation will remain as an eight percent discount on most purchases at the register.
Members in good standing may vote on a board compensation amount via the following manners: an electronic absentee ballot option has launched and will remain open through Thursday, April 11. An additional absentee ballot option is available via a paper ballet at the Co-op. Those desiring a paper ballot mailed via USPS should reach out to vote@oneotacoop.com. Lastly, members in good standing may cast an in-person vote at our 50th Anniversary Kick-off/Annual Meeting of the Membership Friday, April 12 at the Winneshiek County Fairgrounds Community Building. The results of the compensation vote will be announced that evening.
More details regarding this process can be found in OCC Board President Scott Timm’s blog – “2024 Election Ballot Includes Board Compensation Bylaw Amendment” here.
