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ARTICLE VI_. - Board of Directors <br /> <br /> Section ! - T~here shall be a Board of Directors who shall have the <br /> general p~r to direct th~ managemant of the t~asiness ar~ affairs of ~-he <br /> corporation and may adopt such ~ules &nd requlations as it shall deem <br /> proper, not inconsistent with these by-law~. <br /> <br /> Section 2 - The nlmlber of Directors shall not be less tb~n fifteen, <br /> nor nore ~_han twenty. The initial Directors will serve three, ~, ar~ <br /> one-year terms. Thereafter, each Director will be appointed to three <br /> year re/ms with one third being elected each year at the annual meetJ~]g of <br /> the ~mambership. <br /> <br /> Section 3 - Board of Directors n~mkers sb~ll not serve note than <br /> con~utive terms. <br /> <br /> Section 4 - ~nv Directors with three consecutive une_>[cused absences <br /> s~hall be $~bject to di~nissal. ' <br /> <br /> Section 5 - Vacancies <br /> <br /> a. The ~xecutive Cc~nittee shall appoint new n~nkers to the Board of <br /> Directors to fill unex?ired terms and regular vacancies on the Boa~ of <br /> Directors shall be ~atfilled by a vote of the membership (the majority of <br /> those preser~t) at ~he annual mseting. <br /> <br /> b. The Board of Directors may be elec~ked from a slate presented by the <br /> Ncrninating Cc~a~nittee and frown a slate named by members-at-large, from persons <br /> agreeing to serve and whose names have been sut~aitted in writing to the <br /> Board of Directors at least thJ_rty days prior to the annual meeting. <br /> <br /> At~ICT,E VII. - F~efing of Ek~Rrd of DireCtOrs <br /> <br /> Section 1 - There will be monthly meetings of the Seard of Directors. <br /> <br /> Section 2 - Special meetings of the Board may be celled as requested by <br />the President or any four DJ~'ectors. <br /> <br /> Section 3 - A majority of Directors shall constitute a quorum for <br />transaction of business unless the act of t~.e Board in greater n~ber is <br />required by Chapter 55-A of the North Carolina General Statutes, t~he Charter, <br />or the By-Laws of the corporation. <br /> <br /> ARTICLE ~-II. - Officers <br /> <br /> Section 1 - The officers shall be a President, Vice-President, a <br />Secretary and a Treasurer. They shall be elected by the Board of Directors <br />at the ar~nual mseting for a term of one year and until ~J~eir successors <br />are duly ele~aed and I~ve qualified. Any officer may be re-elected for <br />additiopml term or tenThS. Any vacancy in office during a term shall be <br />filled at the next meeting of the Board. <br /> <br /> -2- <br /> <br /> <br />