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Show ARTICLE IV BOARD OP TRUSTEES - AUI-I3BR, POWERS AND PROCEDURE Section 4.01. lumber. The number of the Board of Trustees shall be the total of (a) twice the number of Class A Members of the corporation, to be appointed by the Class A Members, and (b) two-fifths the number of Class 3 Members (or the next whole number if fractional), to be elected by the Class 3 Members, and (c) such Trustees-at-Large as shall be elected by the Board of Trustees pursuant to Section 3.05 of Article III. Section 4.02. General Powers. The Board of Trustees shall have full power to conduct, manage and direct the business of the corporation; and all powers of the corporation except those specifically reserved or granted to the members of the corporation by law, by the Articles of Incorporation, or by these By- Laws, are hereby granted to and vested in the Board of Trustees. Section 4.03. Resignations. Any Trustee of the corporation may resign at any time by giving written notice to the Secretary of the corporation. Such resignation shall tal:e effect at the date of the receipt of such notice or at any later time specified therein; and unless otherwise specified therein the acceptance of such resignation shall not be necessary to maxe it effective. Section 4.04. Annual Meetings. Immediately after each annual meeting of members, the Board of Trustees shall meet for the purpose of organization, election of officers and transaction of other business at the place where such annual meeting of members was held, or such place as a majority of the members of the Board may determine. Section 4.05. Regular Meetings. Regular meetings of the Board of Trustees shall be held at such place and time as shall be designated from time to time by standing resolution of the Board. At such meetings the Trustees may transact such business as may be brought before the meeting. Section 4.05. Special Meetings. Special meetings of the 3oard of Trustees may be held whenever called by the President of the corporation or by a majority of the Trustees in office. Such special meetings shall be held at such place or places as a majority of the Trustees in office may from time to time appoint. Section 4.07. Notice of Meetings. Ho notice of any annual or regular meeting of the Board of Trustees need be given. Notice of each special meeting of the Board of Trustees, stating the day, hour and place and the general nature of the business to 5 |
