Dear fellow IBBA members:

 

On behalf of the IBBA Board of Directors, I want to thank each of you that participated in the October 11, 2011 proposed Bylaws amendments, specifically involving Section 8.12 and seeking to authorize The M&A Source to form a separate corporate non-profit entity.

 

Both sides of the debate presented passionate arguments. In accordance with the bylaws currently in effect, requirements for changes to the bylaws take effect when 10% or more of the membership repeals or rejects a proposed bylaws change. A minimum of 1/3 of the voting members is required, and a minimum of 2/3 or more of the voting members is required, to overturn a proposed change.

 

Your ballots were cast and the final count provided the following results:

 

365 ballots from current and eligible IBBA members have been received.

45 votes were in favor of the proposed bylaws change.

320 votes were against the proposed bylaws change.

 

Your ballots were received and the final count provided more than the 2/3 needed to overturn the proposed changes. Bylaws omitting the language in Section 8.12 have been approved by the Board and will be sent to the membership for acceptance.

 

I want to thank each and every one of you that participated, clearly reflecting your alliance to this wonderful association of ours. Let us now place that same level of passion in rebuilding our two brands, IBBA and M&A Source, into a united and powerful professional association for the good of each and every one of us, and our profession as a whole.

 

With gratitude,

 

Pino Bacinello, CBI, M&AMI,CMEA

On behalf of the IBBA Board of Directors.