The Technology Foundation – Charité Technologie (“the Foundation”) is established by the Society to promote the training and education of members and prospective members by providing scholarships, bursaries, grants, or financial assistance to persons attending or proposing to attend any school, college, or university, and undertaking or proposing to undertake any Engineering / applied science technology diploma study in New Brunswick or elsewhere, in programs acceptable to the Foundation. The Foundation may solicit, receive and accept all manner of contributions, gifts, bequests and legacies from any person, firm or corporation.
19.2 Board of Directors
The affairs of the Foundation shall be managed by a board of seven directors, each of whom at the time of his or her appointment and throughout the term of office shall be a member of the Society. Each director shall be appointed by the Society to hold office until the first annual meeting after their appointment or until their successor shall have been duly appointed and qualified. The whole board shall be retired at each annual general meeting but shall be eligible for re-appointment if otherwise qualified. The directors of the Foundation shall be appointed by Council at the first Council meeting following the annual meeting of the Society. Council may, by resolution passed by at least two-thirds of the votes cast at a meeting of which notice specifying the intention to pass such resolution has been given, remove any director before the expiration of their term of office, and may, by majority of the votes cast at that meeting, elect any person in the director=s place for the remainder of the term.
19.3 Vacancies, Board of Directors
Vacancies on the board of directors, however caused, may so long as a quorum of directors remain in office, be filled by Council from among the qualified members of the Society, if they see fit to do so, otherwise such vacancies shall be filled at the first Council meeting following the annual meeting of the Association; but if there is not a quorum of directors, Council shall forthwith call a special meeting and make an appointment to fill the vacancy.
The Board of Directors shall regularly communicate with Council and submit a yearly report to Council at the Council meeting coinciding with the annual meeting.
The Foundation will forward an annual audit financial statement to the Council, prior to the Society’s annual meeting.