HomeMy WebLinkAbout0955 designated by the Board. Regular meetings of the Board of Directors
shall be held at such time and place as provided by appropriate reso-
lution of the Board of Directors.
B. Notice of Meetings. Notice of such meetings are
hereby dispensed with. If the day for a regular meeting shall fall
upon a Sunday or legal holiday, the meeting shall be held at the
same hour on the first business day thereafter, and no notice thereof
need be given.
C. Quorum. ~ The number of Directors who shall be present
at any meeting of the Board of Directors in order to constitute a
quorum for the transaction of any business or any specific item of '
business shall be three (3) Directors. If a quorum shall not be
present at any meeting of the Board of Directors, those present
may adjourn the meeting from time to time, until a quorum shall be
present.
D. Vacancies. If the office of any Director or
Directors becomes vacant by reason of death, resignation, retire-
ment, disqualification, removal from office, or otherwise, a
majority of the remaining Directors, though less than a quorum
shall choose a successor or successors who shall hold office for
the balance of the unexpired term in respect to which such vacancy-
.
occurred, or such vacancy may remain-unfilled, provided however, if
the Director had~been appointed by the Developer the vacancy-shall
i
be filled by the Developer if the Developer determined to fill the
vacancy. The Developer shall have this right so long as it has
the right to appoint a majority of the Board of Directors. The
election-held for the purpose of filling said vacancy may be held
~ at any meeting of the Board of Directors.
E. Waiver of Notice. Any Director may waive notice
of any meeting of the Board of Directors either before or after
the holding of the meeting by a waiver in writing. Attendance ~
by a Director at any meeting of the Board shall be a waiver of
notice by him of the time and place of said meeting. If all the
Directors are present at any meeting of the Board, no notice shall
~ be required, and any business may be transacted at such meeting.
-4- X331 PEE 955
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