Members that are actively using the wide-area radio system receive one Class A share for each participating service using the radio system.
In order to protect the rights of Metro Vancouver municipalities that will want to use the radio service, Class B shares are issued for each service that intends to use the radio system but is not participating at the present time. Therefore, municipalities may hold a combination of Class A and Class B shares.
Function of shares
As with any corporation, shareholders appoint a Board of Directors to make certain decisions on behalf of the shareholders. However, there are certain decisions that will be the responsibility of Member organizations:
- winding up or dissolution of the company
- amendment of the purposes of the corporation
- cost-sharing formulae for new services
- amendments to the existing cost share formula for services
- amendments relating to the conditions for admitting new members
- amendments relating to processes for appointing directors
Members holding Class A shares also vote on the following issues
- amendments to the existing cost share program
- borrowings exceeding those set forth in the authorized annual operating budget of capital budget
- any matter which is referred to the member holding Class A shares by the Board of Directors
The following is the list of members of E-Comm, and the shares that each holds: