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<br />,- <br /> <br />. <br /> <br />. <br /> <br />'. <br /> <br />Section 3. Notice: Wri tten notice of each annual, <br />regular, and special meeting shall be given by mailing a copy of <br />such notice to each member, properly addressed and first class <br />postage prepaid, not less than ten (10) days nor more than thiI:ty <br />(30) days prior to the date of said meeting. The record date for <br />determining the members entitled to notice of a members' meeting <br />and those entitled to vote at a members I meeting shall be sh:ty <br />(60) days before notice is mailed. A list of members who are <br />entitled to notice of, and to vote at, the meeting shall be <br />prepared and made available for inspection in accordance with the <br />provisions of the Colorado Revised Nonprofit Corporation Act. <br />Notice shall be mailed to each members' last known address <br />according to the corporation records. The notice shall state the <br />place, date, and time of the meeting, the purpose of the meeting, <br />and a description of any matter or matters that must be approved by <br />the members or for which the members' approval is needed. <br /> <br />Section 4. Quorum: Fifteen percent (15%) of the votes <br />entitled to be cast on a matter constitutes a quorum of that voting <br />group for action on that matter. If such a quorum is not present <br />at a meeting at which the matter will be placed to a vote, either <br />in person or by proxy, the meeting may be adjourned by a majority <br />of those present, provided that such meeting may not be adjourned <br />for a period to exceed sixty (601 days for anyone adjournment. <br /> <br />Section 5. Voting: The voting rights of the members and <br />shareholders of the corporation shall be as follows: <br /> <br />1. Shareholders: Shareholders shall have one vote for <br />each share of stock standing in the shareholder's name on the books <br />of the corporation in addition to one vote for each membership as <br />provided below. <br /> <br />2. Members. Each member shall have one vote for each <br />well owned and for which a membership is held. <br /> <br />Voting by proxy shall be permitted, Cumulative VOtillg <br />shall be prohibited, Unless otherwise provided in these bylaws or <br />in the articles of incorporation of the corporation and to the <br />extent consistent with the Colorado Nonprofit Corporation Act, as <br />amended, any matter requiring approval of the members shall require <br />approval by a majority of a quorum of the members present at a <br />regular or special meeting or by proxy, <br /> <br />5 <br />