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Corporation, except as otherwise provided by Colorado law or <br />Articles. In addition, the Board may exercise all such powers <br />the Corporation and do all such lawful acts and things as are <br />directed or required to be exercised or done by the share - <br />ders, by law, the Articles or these Bylaws. <br />3.2 Control. If a quorum, as hereinafter defined, is <br />sent, the affirmative vote of a majority of the directors <br />sent at the meeting and entitled to vote on the subject matter <br />11 be the act of the Board of Directors, except as otherwise <br />vided by law or the Articles. <br />3.3 Number. The number of directors of the Corpora- <br />tion shall be at least three, except that there need be only as <br />many directors as there are shareholders in the event that the <br />outstanding shares are held of record by fewer than three share- <br />holders. Subject to such limitation, the number of directors <br />shall be fixed by resolution of the Board, and may be increased or <br />decreased by resolution of the Board, but no decrease shall have <br />the effect of shortening the term of any incumbent director. <br />3.4 4ualification. Directors shall be natural persons <br />of the age of eighteen years or older, but need not be residents <br />of the State of Colorado or shareholders of the Corporation. <br />3.5 Election,. All directors shall be elected at the <br />an ual meeting of the shareholders or at a special meeting called <br />for that purpose. <br />3.6 Term. Each director shall be elected to hold <br />of ice until the next annual meeting of shareholders or until his <br />su cessor shall have been elected and qualified. <br />to <br />an <br />of <br />by <br />3.7 Resignation. Any director may resign at any time <br />giving written notice to the President or to the Secretary of <br />Corporation. Such resignation shall take effect upon receipt <br />at such later date specified in the notice. Acceptance of such <br />ignation shall not be necessary to make it effective, unless <br />notice so provides. <br />3.8 Removal. Any director or directors of the Cor- <br />tion may be removed at any time, with or without cause, in the <br />er provided by Colorado law. <br />3.9 vacancies. Any vacancy occurring on the Board <br />L11 be filled by the affirmative vote of a majority of the <br />raining-directors though less than a quorum. A director elected <br />fill a vacancy shall be elected for the unexpired term of his <br />4ecessor in office. Any directorship to be filled by reason of <br />increase in the number of directors shall be filled by the <br />'irmative vote of a majority of the directors then in office or <br />an election at an annual meeting or special meeting of <br />C1 <br />