Chris Strashok, the author of an academic study, remarked in 2011 that "currently there are 3.3 million member owners making MEC the fourth largest democratic entity in Canada, after the governments of Canada, Ontario and Québec." Each year, every member of MEC has the opportunity to vote in the elections for its board of directors, as well as on "special resolutions", through a variety of methods. Before the election period, an information package with platforms of candidates and information on resolutions is distributed. Election results are announced at the annual general meeting. MEC is governed by a nine-member board of directors. Each year, three directors are elected to three-year terms. MEC holds its annual general meeting in Vancouver, BC. At this meeting, the Chief Executive Officer and Committee members deliver their annual reports, and answer questions from co-op members. "Other resolutions" may also be brought forward and voted upon. The AGM is typically webcast and members can log in and ask questions. Typically, members recite their member numbers before speaking and these numbers are recorded in the official meeting transcript. Co-op structure Strashok remarked in 2011 that, "profits are either shared among member owners based on how much the member uses the co-operative or invested back into the co-operative to improve the services provided to the members, and to sustain the business. Because of this, MEC is financially conservative, growing slowly and taking few risks. This can be challenging when the business is moving through different stages of growth. It does, however, create space for creative solutions and capital remains local benefiting the communities in which MEC operates." While the democratic structure gave one vote to one member, the financial structure and "policies and legislation pertaining to business in Canada, such as how capital is classified, the classification of dividends versus patronage payments, and tax incentives for investing in co-operatives" were, as noted by Strashok, ill-studied by Canadian business schools. These profits were returned to members as the patronage dividend or patronage return that can be found in yearly financial statements. For the purposes of governance and direction at the AGM the policy was one member, one vote, regardless of how much share capital had been earned by any particular member. Share redemptions were carried out, for example through gift cards, and may have required a policy affirmation. Thus MEC found a means of treating each member as equal, regardless