PROJC01841 (2) - Laserfiche WebLink

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I I. I I I I I I I . I I I I I I I . I I sale, cancel the member's certificates and all rights of the member to participate in the corporation, and reissue a ne~ share of stock to.. the purchaser of such member I s share. ARTICLE III Board of Directors Section 1. General Powers and Duties. The business and affairs of the corporation shall be managed by its Board of Directors. The directors shall perform their duties in good faith and in a manner reasonably believed to be in the best / interests of the corporation. Section 2. Number, Tenure and Qualifications. The ,...,-nwnber .of.,Jiirectors of the corporation shall be not less. than V tJi_ .!.e: eIl'... Each director shall hold office until the next annual meeting of shareholders and until his SUccessor shall have been elected and qualified. Directors shall be natural persons, eighteen years of age or older, but need not be residents of the State of Colorado or shareholders of the corporation. Section 3. Annual Meetings. An annual meeting of the Board of Directors shall be held inunediately after, and at the same place as, the annual meeting of shareholders for the purpose of organization, election of corporate officers, election or appointment of other officers, agents or employees and for any other proper business. The Board of Directors may provide, by resolution, the time and place, either within or without the State of Colorado, for the holding of additional regular meetings. Section 4. Special Meetin<;Js. Special meetings of . the Board of Directors may be called by or at the request of the president or any two directors. The person or persons authorized to call special meetings of the Board of Directors may fix any place, either ~ithin or without the State of COlorado, as the place for holding any special meeting of the Board of Directors called by them. Section 5. Notice of Meeting. Notice of any annual, regular or special meeting shall be given at least two days previously thereto by verbal conununication, or written notice delivered personally or by telex, telegram or radiogram. If mailed, such notice shall be given four days in advance and shall be deemed to be delivered when deposited in the United States mails, so addressed, with postage thereon prepaid. If notice be given by telex, telegram, or radiogram, such notice shall be deemed to be delivered when the telegram is delivered to the telegraph company. A director may waiver in writing -6-