The board of directors of the Investment Dealers Associaiton has amended a couple of by-laws regarding its National Advisory Committee.

The proposed changes will:

  • remove the reference to the VP Government and Member Relations, an IDA staff position that no longer exists;
  • include the senior vice president Industry Relations & Representation as a NAC member;
  • no longer require the most recent winner of the national Distinction Award to be a NAC member;
  • eliminate the Regional Directors’ voting rights;
  • clarify the appointment of proxies;
  • reduce the quorum from 10 to six for NAC meetings; and
  • reduce the number of voting NAC members required for approval of a written resolution from 10 to six.

The cumulative effect of the changes with respect to voting rights and membership is that the NAC’s membership will now consist of the District Council Chairs, the senior vice president, Industry Relations and the Regional Directors. Those with voting rights at NAC meetings and for NAC written resolutions will be the District Council Chairs and the senior vice president, Industry Relations.