Board candidacy open until March 31

GRF BOARD

Shareholders who live in odd-numbered Mutuals are eligible to submit a candidate application to serve on the Golden Rain Foundation (GRF) Board of Directors. The deadline to submit applications is Friday, March 31, 4:30 p.m.

A candidate may be a member who is an officer or director of a Mutual Corporation; any City Council; Orange County Board of Supervisors; 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. This may cause a potential conflict of interest, causing unnecessary liability including, but not limited to, breaching fiduciary duties.

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. The current GRF Board thanks all candidates for the willingness to participate in the continued success of Leisure World.

BOARD CANDIDATE REQUIREMENTS

Before filling out the application read the following information on board candidate requirements: The campaign cycle for the Golden Rain Foundation (GRF) Board of Directors is underway. In 2023, GRF Board seats representing odd-numbered Mutuals are up for election.

1. The candidate cannot be convicted of a crime that would either prevent GRF from purchasing fidelity bond coverage or terminate GRF’s existing coverage, be current in the payment of carrying charges that does not include non-payment of collection charges, late charges, fines, fines rename assessments, costs levied by a third party, or if the member has (1) paid under protest per Civil Code Section 5658, (2) has entered into and is currently on a payment plan, or (3) if the member has not been provided the opportunity to engage in Internal Dispute Resolution (IDR). The candidate must be a member of GRF for at least one year.

2. Candidates may self-nominate or be nominated by their GRF Nominating Committee or Board of Directors.

3. 50-1631-4 Application for Candidacy forms are available in the Stock Transfer Office on the bottom floor of the Administration Building. Candidates who are self-nominated must complete a 50-1631-4 Application for Candidacy before 4:30 p.m. on Friday, March 31.

4. Candidates who are nominated by their GRF Nominating Committee or Board of Directors will have their names submitted to Stock Transfer by the GRF Secretary. Upon receipt of any submitted names, the GRF Board Office will contact each candidate and arrange for them to confirm their candidacy by receiving and completing an “Application for Candidacy” and candidate instructions.

5. In accordance with 30-5025-3 GRF Election Procedures, each candidate shall submit a statement, or resume, of no more than 300 words, single sided, to the Stock Transfer Office. Statements shall be written in compliance with the election rules, e.g., contain the background, qualifications, and platform of the candidate, and shall not contain any disparaging or defamatory content. All statements are due before 4:30 p.m. on Friday, March 31.

6. Per Foundation by-laws, 30-5025-3 GRF Election Procedures, section 3.1.2. , candidates shall complete a 50-1632-4 Candidate Eligibility Disclaimer to set forth that they are qualified to serve on the GRF Board of Directors.

7. When turning in the 50-1631-4 Application for Candidacy, 50-1632-4 Candidate Eligibility Disclaimer, and statement, members must show GRF ID. Candidates will receive a receipt when turning in their application materials.

8. To avoid any potential conflict of interest, no member of the GRF Board of Directors or his or her spouse may be employed by the Foundation. GRF Board Candidates must sign a 50-1632-4 Candidate Eligibility Disclaimer, stating that they are eligible to serve as a director and a member for one year.

9. Candidates who complete a timely 50-1632-4 Application for Candidacy (or are nominated by the GRF nominating committee or Board) will be listed on the Secret Mail-in Ballot. Ballot packets containing the Secret Mail-in Ballot, postage-paid envelopes, balloting instructions, and deadlines will be mailed to each household in odd-numbered Mutuals on Friday, May 5. The GRF By-Laws have no provisions for write-in candidates on the ballots or for nominations from the floor.

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.

For more information on being a candidate for the GRF Board, call 562-431-6586, ext. 346 for Stock Transfer, or ext. 303 for the Board of Directors Office.