What officer positions are specified for the DMA Cooperative associated with 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.
- Section 5. President. The President is the principal executive officer of the DMA Cooperative and, along with the Vice President, Secretary and Treasurer generally supervises and controls all of the routine business affairs of the DMA Cooperative.
He or she will perform all duties incident to the office of President and such other duties as may be prescribed by the Members from time to time.
- Section 6. Vice President.
In the absence of the President or upon his or her death, inability or willful refusal to act, the Vice President will perform all the duties of the President, and when so acting, has all the powers of and be subject to all the restrictions upon the President.
The Vice President will, along with the President, Secretary and Treasurer generally supervise and control all of the business affairs of the DMA Cooperative.
Source: Item 3 — Franchisee/Debtor's Warranties. (FDD pages 263–364)
What This Means (2025 FDD)
According to Stretch Zone's 2025 Franchise Disclosure Document, the DMA Cooperative has specific officer positions. These positions include a President, a Vice President, a Secretary, and a Treasurer. All officers are elected by the members of the DMA Cooperative. The members can also elect or appoint other officers and assistant officers if deemed necessary. However, the same person cannot hold both the office of President and Secretary simultaneously.
The term of office for each officer is one year, and they hold office until their successor is duly elected and qualified, or until their death, resignation, or removal. The 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.
The President, as the principal executive officer, along with the Vice President, Secretary, and Treasurer, generally supervises and controls the routine business affairs of the DMA Cooperative. The President performs duties incident to the office and other duties prescribed by the members. In the absence of the President, the Vice President assumes all duties and powers of the President. The officers will fix the fiscal year of the DMA Cooperative by resolution.