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<br />~ <br /> <br />, <br /> <br />. <br /> <br />. <br /> <br />Director Jim Rogers <br />of the following <br /> <br />moved the adoption <br /> <br />. RESOLUTION <br /> <br />Resolved that the Articles of Incorporation of the <br />association be amended by the addition of the :tollowing <br />articles: <br /> <br />"EIGHTH: As provided and. to the extent set forth in <br />section 7-3-101, (J.) (u), Q.R.S., no present Or future <br />director of the association shall be liable to the <br />association or to its members for monetary damages for <br />breach of fiduciary duty as such director. <br /> <br />NIN'I'H: As provided and to the extent set forth in <br />section 7-3-101.5, C.R.S., any person may be inQemnificd <br />or reimbursed by this assQciation for all' r~asonable <br />expenses actually incurred by him in connection with any <br />action, suits, against judgments or proceedings in which <br />he is made a party by reaSon of his being an officer, <br />director, or employee of the association, inclUding any <br />action ~ased upon any allegetl act or omission on his part <br />as an Officer, director or <omployee of the asso<::iation", <br />and further <br /> <br />RESOLVED, that a noticCa of. these proposed amended <br />articles be given to the m<ambers of the association in <br />order that they may be disc:ussed and acted upon at the <br />forthcoming annual meeting Of shareholders to be held on <br />February ~, 1991. <br /> <br />Director Don <br />Upon vote taken, <br />unanimo~sly passed. <br /> <br />Higbee <br />the ch,urman <br /> <br />seconded <br />declared <br /> <br />the motion. <br />the. motion <br />