When electing directors for Bonchon, how many votes is each member entitled to cast?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
- B. When electing directors, each member shall be entitled to cast the number of votes as shall equal the number of votes he or it is allocated under Section 5.03 of these By-Laws multiplied by the number of directors to be elected (for which such member's votes are eligible), and each member may cast all such votes for a single director or may distribute them among some or all of the number of directors to be elected, as said member sees fit.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, when electing directors, each member is entitled to cast a number of votes equal to the number of votes they are allocated under Section 5.03 of the By-Laws, multiplied by the number of directors to be elected. The member can cast all votes for a single director or distribute them among some or all of the directors being elected.
Section 5.03, referenced in the quoted text, would provide further details on how votes are allocated to members. This allocation is a key factor in determining a member's influence in the election of directors. Understanding this allocation is crucial for any prospective franchisee who wishes to participate in the governance of the Bonchon franchise system.
For a prospective franchisee, it is important to understand how many votes they will be allocated under Section 5.03, as this will directly impact their ability to influence the election of directors. It would be prudent to review Section 5.03 within the full FDD to fully understand the voting power a franchisee will have.