THIS SETS THE STAGE FOR THEFT. Make no mistake about it -this will make everything worse for 'loyal' Witnesses.
Why? Consider: suppose your Kingdom Hall has increased in value. The CO can likely sell it off and send the cash to the Society because he has absolute control over the elders. He can appoint or delete anyone he wishes.
Further, it intensifies cronyism and simony - already bad thoughout Witness congregations. It also "derates" the elders in that they are mere servants of the CO. True, Circuit Overseers have been dictatorial frequently but this makes the situation worse.
It will also worsen the quality of elders because COs are going to be tempted to appoint anyone to fill slots, with little or no regard for qualifications. They may as well go back to "Company Servants" as in Rutherford's day, for all this backward move will accomplish.
I have known of congregations that fended off predatory COs by standing together as one. That may be possible now but this will make it more difficult.
Finally, if you have contempt for the Watchtower Society, take heart !! This will accelerate the dissolution of the Organization as the "sheep" are stripped of donations, Kingdom Halls and any remaining hope that things can be reformed.
Rejoice!
metatron