For Bonchon, what is the procedure for submitting proxies to vote at a membership meeting?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
- D. At any meeting of the members (except those held pursuant to Section 5.05 of these By-Laws), any member may vote by written proxy. All proxies must be submitted to the Secretary of the Corporation, or, in his absence, any person appointed to act as secretary, at or before the meeting for which said proxies are given.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, members can vote by written proxy at any meeting, except those held pursuant to Section 5.05 of the By-Laws. To submit a proxy, members must provide it in writing to the Corporation's Secretary or, if the Secretary is absent, to any person appointed to act as secretary. The proxy must be submitted at or before the meeting for which it is intended.
This means that Bonchon franchisees have the option to participate in important decisions even if they cannot attend the meetings in person. By using a written proxy, a franchisee can authorize someone else to cast their vote on their behalf, ensuring their voice is heard on key issues affecting the franchise system. This is a fairly standard practice in franchise organizations, as it allows for broader participation and representation in decision-making.
It is important for franchisees to understand the specific requirements for submitting a valid proxy, such as ensuring it is in writing and delivered to the appropriate person before the meeting starts. Franchisees should also be aware of any limitations on proxy voting, such as the exclusion of meetings held under Section 5.05 of the By-Laws, and consult the full By-Laws for complete details.