C150331 Feasibility Study - Laserfiche WebLink

Home Browse Search

Section 7. Powers of the Board. The Board of Directors shall have general power to act for the company in any manner not prohibited by statute or by the Certificate of Incorporation, If the company shall at any time borrow or receive by way of grant any property from the United States, through any agencies of the United States, the Board of Directors shall pursue such management methods, including accounting, and audits as such agency may prescribe. Section 8. Ramoval of Directors and Officers. Any direc- tor or officer may be romoved from office in t e ollowing manner: Any membor may bran` charges against any director or officer by filing them in writing with the Secretary of the as- sociation, together with a petition signed by ten per cent of the members, requesting the romoval of the director or officer In question. Such removal shall be voted upon at the next regular or special meeting of the members and shall be effec- tive if approval by a voto of a majority of the members presont at such meeting. Tho director or officer against whom such charges 1sgve been brought shall be informed in writing of such charges five days prior to the meeting and shall have the op- portunity at such meeting to be heard in person or by counsel and present witnesses; and the person or persons bringing such charges against him shall have the same oppartunity. If the removal 6f a director is approved, such action shall also vacate any other office held by the removed director in the as- sociation. A vacancy in the Board thus creabed shall immediate - ll* be filled by a vote of a majority of the members present and voting at such meeting. A vacancy in any office thus created shall be filled by the directors from among their number so constituted after the vacancy in such Board has been filled. Section 9. Quorum. Pour members of the Board of Directors shall constitute a quorum for the transaction of business at any meeting of the Board. ARTICI.s VIII Officers Section I. Duties of the President. The President shall preside at all meetings of he mom ers of the Board of Direc- tors; he shall execute stock certificates, notes, bonds, mort- gages, contracts, and all other instruments on behalf of the company; he shall be ox- officio a member of all standing com- mittees; and he shall have such powers and perform such other duties as may be properly required of him by the Board of Directors. Section 2. Duties of the Vice President. The Vice Presi- dent shall, in the absence or disability o President, or in the event of his death, rasignntion, or removal from office, perform such duties and exorcise the powers of the President, and shall have such other nowcrs and perform such other duties as the Board of Directors may prescribe. Section 3. Duties of the Secretary- Treasurer. Tho Secre- tary- Troasurer shall eep a record of e proceodings of the Board of Directors of th3 company, and shall keep th:; books and records of said company and the seal of said company, and shall attest the signatures of the officials of the company 4.