How long is the term of office for each officer of the DMA Cooperative related to Stretch Zone?
Stretch_Zone Franchise · 2025 FDDAnswer from 2025 FDD Document
ARTICLE 5 Officers
- Section 1. Number. The officers of the DMA Cooperative are a President, a Vice President, a Secretary and Treasurer, each of whom will be elected by the Members. Other officers and assistant officers as may be deemed necessary may be elected or appointed by the Members. Any 2 or more offices may be held by the same person except the offices of President and Secretary.
- Section 2. Election and Term of Office. The officers of the DMA Cooperative will be initially elected at the organizational meeting of the Members and at future meetings preceding the expiration of the officer's terms of office. The term of office for each officer is 1 year. Each officer will hold office until his or her successor has been duly elected and has been qualified, or until his or her death, or until he or she resigns or has been removed in the manner provided in
this Agreement.
Section 3. Removal. The Members may remove any officer whenever in their judgment the best interests of the DMA Cooperative would be served, but removal is without prejudice to the contract rights, if any, of the person so removed.
Section 4. Vacancies.
A vacancy in any office because of death, resignation, removal, disqualification or otherwise, may be filled by the Members for the unexpired portion of the term.
Source: Item 3 — Franchisee/Debtor's Warranties. (FDD pages 263–364)
What This Means (2025 FDD)
According to the 2025 Stretch Zone Franchise Disclosure Document, the term of office for each officer of the DMA Cooperative is one year. The officers are initially elected at the organizational meeting of the members and at future meetings preceding the expiration of the officer's terms. Each officer holds office until their successor is elected, qualified, dies, resigns, or is removed.
Officers of the DMA Cooperative include a President, Vice President, Secretary, and Treasurer, all elected by the members. Additional officers and assistant officers can be elected or appointed by the members if deemed necessary. However, the same person cannot hold both the office of President and Secretary.
Members have the authority to remove any officer if they believe it is in the best interest of the DMA Cooperative. A vacancy in any office due to death, resignation, removal, disqualification, or other reasons can be filled by the members for the unexpired portion of the term.