Ongoing call for GRF Board candidates
The election cycle for the Golden Rain Foundation (GRF) Board of Directors representing odd numbered Mutuals is underway. The need for candidates for the odd numbered Mutuals is ongoing. If you are considering or know someone who is considering running for the GRF Board, make sure to pick up and fill out an application now. The deadline to submit application is 4:30 p.m., March 31.
Before filling out the application make sure to read the following information and the GRF board candidate requirements in the article below.
Review the following points to ensure eligibility.
1. A Mutual Board of Directors (BOD) may appoint a nominating committee for the purpose of recommending a candidate for election. Any candidates who are recommended by their Mutual BOD or nominating committee will be given candidate instructions by the Stock Transfer Office.
2. A candidate may be a member who is an officer or director of a Mutual Corporation; of any City Council; of the Orange County Board of Supervisors; of the City of Seal Beach or the County of Orange Planning Commission. However, a member of any entity or partnership or an officer or director of any corporation engaged in supplying material or labor to GRF is strongly discouraged from running for the Board. This may cause a potential conflict of interest, causing an unnecessary liability including, but not limited to, breaching fiduciary duties.
3. Candidates must be members of GRF for at least one year. Therefore, renters/lessees of a unit within a Mutual are not eligible to run for the GRF Board of Directors.
Application for Candidacy forms and GRF Directors Handbooks are available in the Stock Transfer Office in the Administration Building. Deadline to submit application is 4:30 p.m. on Friday, March 31.
On behalf of the current GRF Board, thank you to all candidates for the willingness to assist in the continued success of the Leisure World community.
For any questions on the election process please call 562-431- 6586, ext. 346, for Stock Transfer, or ext. 303, for the Board of Directors Office.
The GRF board looks forward to shareholders participation in the election process as shareholders will also be asked to vote on proposed changes to GRF bylaws. Proposed bylaw changes were printed in the Feb. 16 Weekly.
