Frequency of and Notice for General Meetings
The General Meeting of members shall be held at least once a year. The notice for the Annual General Meetings shall clearly specify all the issues to be discussed.
As provided for in the SACCO’s By-Laws, the general meetings shall follow the procedure below:
(i) The Board/Committee shall give notice of the meeting through the media channel most accessible to the SACCO members at least fourteen (14) calendar days before the meeting date. Such notice shall specify the date, time, place and the items to be on the agenda to be considered.
(ii) The notice shall state that the financial reports for the fiscal year have been made available at the SACCO’s notice board for members’ information. Where appropriate, the financial reports shall be distributed to members before or during the meeting.
(iii) The Annual General Meeting shall be convened within sixty (60) calendar days following the closing of each financial year.
(iv) Except when convened by the Registrar, a general meeting’s quorum shall be established with the attendance of 30% of the eligible members, OR by 50 members present, whichever is less.
(v) In the event that the required quorum has not assembled on the meeting day, a second notice of the meeting shall be published for fourteen (14) days later. In such an event the meeting shall be validly held irrespective of the number of members in attendance.