BYLAWS OF
COPPELL HISTORICAL SOCIETY
A TEXAS NON-PROFIT CORPORATION * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
ARTICLE I .
OFFICES
1.01 P r i n c i p a l P l a c e of B u s i n e s s . The p r i n c i p a l p l a c e of b u s i n e s s of the C o r p o r a t i o n s h a l l be i n the C i t y of C o p p e l l , S t a t e of T e x a s .
1.02 Other O f f i c e s . The C o r p o r a t i o n may a l s o have o f f i c e s a t o t h e r p l a c e s i n or out of the S t a t e of Te x a s a s t h e Board of D i r e c t o r s may from time to time determine, or a s t h e b u s i n e s s of the C o r p o r a t i o n may r e q u i r e .
ARTICLE I I
MEMBERS
2.01 Q u a l i f i c a t i o n . A person or e n t i t y s h a l l q u a l i f y a n n u a l l y a s a Member upon payment of the annual dues f o r ea c h y e a r a s s e t by the Board of D i r e c t o r s i n i t s s o l e d i s c r e t i o n . Dues s h a l l be p a i d f o r a c a l e n d a r year and s h a l l not be p r o r a t e d .
2.02. P l a c e of Meetings. Meetings of the Members may be h e l d a t s u c h time and p l a c e , w i t h i n or without t h e S t a t e o f T e x a s , a s s h a l l be s t a t e d i n the n o t i c e of the meeting, or i n a d u l y e x e c u t e d w a i v e r of n o t i c e t h e r e o f .
2.03 Annual Meetings. Annual meetings of Members, commencing w i t h the y e a r of (HHO #• s h a l l be h e l d on t h e f l x s t ^ ' ^ r o ^ i a 'I'Ao-AcAavA i r i J T u g - i n each y e a r , i f not a l e g a l h o l i d a y , and i f a l e g a l h o l i d a y , then on the next s e c u l a r day f o l l o w i n g , a t 10:00 a.m. a t which t h e y s h a l l e l e c t , by a p l u r a l i t y v o t e a Board o f D i r e c t o r s and t r a n s a c t such o t h e r b u s i n e s s a s may p r o p e r l y be brought b e f o r e the meeting.
2.04 S p e c i a l Meetings. S p e c i a l meetings o f t h e Members, f o r any p u r p o s e or p u r p o s e s , u n l e s s o t h e r w i s e p r e s c r i b e d by s t a t u t e or by t h e A r t i c l e s of f r i c o r p o r a t i o n , may be c a l l e d by t h e Chairman of the Board or the P r e s i d e n t , and s h a l l be c a l l e d by t h e P r e s i d e n t or S e c r e t a r y a t t he r e q u e s t i n w r i t i n g of a m a j o r i t y o f t h e Board of D i r e c t o r s , or a t t h e r e q u e s t i n w r i t i n g o f Members c o n s t i t u t i n g a t l e a s t t e n p e r c e n t (10%) of the Members o f t h e C o r p o r a t i o n . Such r e q u e s t s h a l l s t a t e the purpose or pu r p o s e s o f t h e proposed
meeting. B u s i n e s s t r a n s a c t e d a t any s p e c i a l meeting of Members s h a l l be l i m i t e d t o t h e purposes s t a t e d i n the n o t i c e o f t h e meeting.
2.05 N o t i c e .
A. N o t i c e s of meetings s h a l l be i n w r i t i n g and s i g n e d by the P r e s i d e n t , a V i c e P r e s i d e n t , the S e c r e t a r y , an A s s i s t a n t S e c r e t a r y , o r by s u c h o t h e r person or p e r s o n s as the Board of D i r e c t o r s s h a l l d e s i g n a t e . Such n o t i c e s h a l l s t a t e the p l a c e , day and hour of t h e meeting and, i n case of a s p e c i a l meeting, t h e purpose or p u r p o s e s f o r which the meeting i s c a l l e d . A copy of su c h n o t i c e s h a l l be e i t h e r d e l i v e r e d p e r s o n a l l y or s h a l l be m a i l e d , p o s t a g e p r e p a i d , to each Member of r e c o r d e n t i t l e d t o v o t e a t s u c h m e e t i n g not l e s s than ten (10) days (twenty (20) days i n the c a s e o f any meeting, whether annual or s p e c i a l , c a l l e d t o a c t upon a p l a n o f merger or c o n s o l i d a t i o n ) nor more than s i x t y ( 60) days b e f o r e s u c h meeting. P e r s o n a l d e l i v e r y of any s u c h n o t i c e t o any o f f i c e r o f a C o r p o r a t i o n or a s s o c i a t i o n , or to any member o f a p a r t n e r s h i p s h a l l c o n s t i t u t e d e l i v e r y of s u c h n o t i c e t o s u c h , a s s o c i a t i o n or p a r t n e r s h i p .
B. Any n o t i c e r e q u i r e d to be g i v e n to any Member under any p r o v i s i o n o f t h e Texas B u s i n e s s C o r p o r a t i o n A c t , as amended, t h e Texas N o n - P r o f i t C o r p o r a t i o n Act, as amended, the A r t i c l e s of I n c o r p o r a t i o n , or t h e s e Bylaws, need not be g i v e n t o the Member i f n o t i c e o f two ( 2 ) c o n s e c u t i v e annual meetings, and a l l n o t i c e of meetings h e l d d u r i n g t h e p e r i o d between those meetings, i f any, have been m a i l e d to t h a t Member, addressed a t h i s or her a d d r e s s a s shown on t h e r e c o r d s of the C o r p o r a t i o n , and have been r e t u r n e d u n d e l i v e r a b l e . Any a c t i o n or meeting t a k e n or h e l d w i t h o u t n o t i c e t o s u c h a Member s h a l l have the same f o r c e and e f f e c t a s i f t h e n o t i c e had been d u l y g i v e n and i f the a c t i o n t a k e n by t h e C o r p o r a t i o n i s r e f l e c t e d i n any document f i l e d w i t h the S e c r e t a r y of S t a t e o f T e x a s , s u c h document may s t a t e t h a t n o t i c e was d u l y g i v e n t o a l l p e r s o n s t o whom n o t i c e was r e q u i r e d to be g i v e n . I f su c h Member d e l i v e r s t o the C o r p o r a t i o n w r i t t e n n o t i c e s e t t i n g f o r t h h i s or h e r then c u r r e n t address, the requirement t h a t n o t i c e be g i v e n t o t h a t p e r s o n s h a l l be r e i n s t a t e d .
2.06 Quorum; W i t h d r a w a l of Quorum. Ten p e r c e n t ( 1 0 % ) of t h e Members q u a l i f i e d and e n t i t l e d to vote t h e r e a t , p r e s e n t i n p e r s o n or r e p r e s e n t e d by proxy, s h a l l c o n s t i t u t e a quorum a t a l l m e e t i n g s o f the Members f o r the t r a n s a c t i o n of b u s i n e s s e x c e p t a s o t h e r w i s e p r o v i d e d by s t a t u t e or by the A r t i c l e s of I n c o r p o r a t i o n . I f , however, s u c h quorum s h a l l not be p r e s e n t or r e p r e s e n t e d a t any meeting o f t h e Members, the Members e n t i t l e d to vot e t h e r e a t , p r e s e n t i n p e r s o n or r e p r e s e n t e d by proxy, s h a l l have power t o a d j o u r n t h e m e e t i n g from time to time, w i t h o u t n o t i c e o t h e r t h a n announcement a t t h e meeting, u n t i l a quorum s h a l l be p r e s e n t or r e p r e s e n t e d . At s u c h a d j o u r n e d meetings a t which a quorum s h a l l be p r e s e n t or r e p r e s e n t e d , any b u s i n e s s may be t r a n s a c t e d w h i c h might have been t r a n s a c t e d a t the meeting as o r i g i n a l l y n o t i f i e d .
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The Members p r e s e n t a t a d u l y o r g a n i z e d meeting may c o n t i n u e t o t r a n s a c t b u s i n e s s u n t i l adjournment, n o t w i t h s t a n d i n g t h e w i t h d r a w a l o f enough Members t o l e a v e l e s s than a quorum.
2.07 M a j o r i t y V o t e . When a quorum i s p r e s e n t or r e p r e s e n t e d a t any meeting, t h e v o t e of a m a j o r i t y Members p r e s e n t i n p e r s o n o r r e p r e s e n t e d by proxy s h a l l d e c i d e any q u e s t i o n brought b e f o r e s u c h m e e t i n g , u n l e s s the q u e s t i o n i s one upon which by e x p r e s s p r o v i s i o n s o f the s t a t u t e s or of the A r t i c l e s of I n c o r p o r a t i o n a d i f f e r e n t v o t e i s r e q u i r e d , i n which c a s e such e x p r e s s p r o v i s i o n s h a l l g o v e r n and c o n t r o l the d e c i s i o n of such q u e s t i o n .
2.08 V o t i n g L i s t . The o f f i c e r or agent having c h a r g e of t h e membership r o s t e r of the C o r p o r a t i o n s h a l l make, a t l e a s t t e n ( 1 0 ) days b e f o r e each meeting of Members, a complete l i s t o f t h e Members e n t i t l e d t o v o t e a t such meeting or any adjournment t h e r e o f , a r r a n g e d i n a l p h a b e t i c a l o r d e r , w i t h the a d d r e s s of e a c h . Such l i s t , f o r a p e r i o d of t e n (10) days p r i o r to such m e e t i n g , s h a l l be k e p t on f i l e a t t h e r e g i s t e r e d o f f i c e of the C o r p o r a t i o n and s h a l l be s u b j e c t t o i n s p e c t i o n by any Member a t any time d u r i n g t h e u s u a l b u s i n e s s h o u r s . Such l i s t s h a l l a l s o be produced and k e p t open a t t h e time and p l a c e of the meeting d u r i n g t h e whole t i m e of the meeting, and s h a l l be s u b j e c t to t h e i n s p e c t i o n o f any Member who may be p r e s e n t . However, f a i l u r e t o comply w i t h t h i s p r o v i s i o n w i l l not i n v a l i d a t e any meeting.
2.09 Number of V o t e s . E a c h s h a l l be e n t i t l e d t o one v o t e on ea c h m a t t e r s u b m i t t e d to a v o t e a t a meeting of Members.
2.10 P r o x i e s . At any meeting of the Members, any Member may be r e p r e s e n t e d and v o t e by a proxy appointed by an i n s t r u m e n t i n w r i t i n g . Such proxy s h a l l be f i l e d w i t h the S e c r e t a r y of t h e C o r p o r a t i o n p r i o r to or a t t h e time of the meeting. I n t h e e v e n t t h a t any s u c h w r i t t e n i n s t r u m e n t s h a l l d e s i g n a t e two or more p e r s o n s t o a c t a s p r o x i e s , a m a j o r i t y of such p e r s o n s p r e s e n t a t t h e m e e t i n g ( o r , i f o n l y one s h a l l be p r e s e n t , then t h a t one) s h a l l have and may e x e r c i s e a l l of the powers c o n f e r r e d by s u c h w r i t t e n i n s t r u m e n t upon a l l of t h e persons so d e s i g n a t e d , u n l e s s t h e i n s t r u m e n t s h a l l o t h e r w i s e p r o v i d e . No such proxy s h a l l be v a l i d a f t e r the e x p i r a t i o n of e l e v e n (11) months from t h e d a t e o f i t s e x e c u t i o n , u n l e s s o t h e r w i s e p r o v i d e d i n the proxy. E a c h proxy s h a l l be r e v o c a b l e b e f o r e i t has been voted u n l e s s the pr o x y form c o n s p i c u o u s l y s t a t e s t h a t t h e proxy i s i r r e v o c a b l e . A r e v o c a b l e p r o x y s h a l l be deemed t o have been revoked i f the S e c r e t a r y of t h e C o r p o r a t i o n s h a l l have r e c e i v e d a t or bef o r e the me e t i n g , i n s t r u c t i o n s of r e v o c a t i o n or a proxy b e a r i n g a l a t e r d a t e , w h i c h i n s t r u c t i o n s or pr o x y s h a l l have been duly executed and d a t e d i n w r i t i n g by t h e s h a r e h o l d e r .
2.11 Method of V o t i n g ; A c t i o n Without Meeting. Whenever t h e v o t e o f Members a t a meeting t h e r e o f i s r e q u i r e d or p e r m i t t e d t o be t a k e n i n c o n n e c t i o n w i t h any c o r p o r a t e a c t i o n by any p r o v i s i o n o f t h e s t a t u t e s or of t h e A r t i c l e s of I n c o r p o r a t i o n , t h e mee t i n g and v o t e o f Members may be d i s p e n s e d w i t h i f a l l the Members who
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would have been e n t i t l e d t o vote upon the a c t i o n i f such meeting were h e l d s h a l l c o n s e n t i n w r i t i n g to such c o r p o r a t e a c t i o n b e i n g t a k e n . At a l l c o r p o r a t e meetings, the manner of v o t i n g s h a l l be by b a l l o t , by v o i c e v o t e , or by a showing of hands, a t t h e d i s c r e t i o n of t h e Chairman of the meeting.
ARTICLE I I I .
TRUSTEES
3.01 Management. The b u s i n e s s and a f f a i r s of the C o r p o r a t i o n s h a l l be managed by the Board of D i r e c t o r s , who may e x e r c i s e s uch powers of t h e C o r p o r a t i o n and do a l l such l a w f u l a c t s and t a k e s u c h l a w f u l a c t i o n s as a r e d i r e c t e d or r e q u i r e d t o be e x e r c i s e d or done by t h e C o r p o r a t i o n .
3.02 Number and Q u a l i f i c a t i o n s . The Board of D i r e c t o r s s h a l l c o n s i s t of not l e s s than t h r e e ( 3 ) , nor more than f i f t e e n (15) d i r e c t o r s . The i n i t i a l Board of D i r e c t o r s s h a l l c o n s i s t o f n i n e ( 9 ) d i r e c t o r s .
3.03 E l e c t i o n . The d i r e c t o r s s h a l l be e l e c t e d a t the a n n u a l meeting of t h e Board o f D i r e c t o r s , except as p r o v i d e d i n Byla w s 3.05 and 3.06. E a c h d i r e c t o r e l e c t e d s h a l l h o l d o f f i c e u n t i l h i s or her s u c c e s s o r s h a l l be e l e c t e d and q u a l i f i e d . D i r e c t o r s s h a l l be e l e c t e d by m a j o r i t y v o t e .
3.04 Change i n Number. The number of d i r e c t o r s may be i n c r e a s e d or d e c r e a s e d from time to time by amendment of t h e s e Bylaws, but no d e c r e a s e s h a l l have the e f f e c t of s h o r t e n i n g t h e term o f any incumbent d i r e c t o r . Any d i r e c t o r s h i p to be f i l l e d by r e a s o n o f an i n c r e a s e i n the number of d i r e c t o r s s h a l l be f i l l e d by an e l e c t i o n a t an a n n u a l meeting or a t a s p e c i a l meeting of t h e C o r p o r a t i o n c a l l e d f o r t h a t purpose.
3.05 Removal. Any d i r e c t o r may be removed, e i t h e r w i t h o r w i t h o u t c a u s e , a t any s p e c i a l or annual meeting of the C o r p o r a t i o n , by t h e a f f i r m a t i v e vote of a m a j o r i t y of the d i r e c t o r s p r e s e n t , i n p e r s o n or by proxy, having v o t i n g power a t s u c h meeting, i f n o t i c e o f i n t e n t i o n to a c t upon such matter s h a l l have been g i v e n i n t h e n o t i c e c a l l i n g such meeting or i n the w a i v e r o f such n o t i c e . I f t h e n o t i c e c a l l i n g such meeting or the w a i v e r o f n o t i c e o f s u c h m e e t i n g , s h a l l so p r o v i d e , the vacancy c a u s e d by such removal may be f i l l e d a t such meeting by an a f f i r m a t i v e v o t e of a m a j o r i t y of t h e d i r e c t o r s p r e s e n t , i n person or by p r o x y , h a v i n g v o t i n g power t o e l e c t a d i r e c t o r to f i l l the v a c a n c y . F a i l u r e t o e l e c t a d i r e c t o r to f i l l the u n e x p i r e d term of t h e d i r e c t o r so removed s h a l l be deemed t o c r e a t e a vacancy on t h e Board o f D i r e c t o r s .
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3.06 V a c a n c i e s . Any v a c a n c y o c c u r r i n g i n the Board of D i r e c t o r s (by d e a t h , r e s i g n a t i o n , removal or o t h e r w i s e ) must be f i l l e d by t h e a f f i r m a t i v e v o t e of a m a j o r i t y of the r e m a i n i n g d i r e c t o r s . A d i r e c t o r e l e c t e d to f i l l a vacancy s h a l l be e l e c t e d f o r t h e u n e x p i r e d term of h i s or her p r e d e c e s s o r ' s o f f i c e .
3.07 P l a c e of Mee t i n g s . Meetings of the Board of D i r e c t o r s s h a l l be h e l d a t the d a t e , time and p l a c e , i n or out of the S t a t e of T e x a s , a s the Board o f D i r e c t o r s may determine.
3.08 Annual Meetings. An a n n u a l meeting of the Board of D i r e c t o r s s h a l l be h e l d each y e a r on t h e t h i r d Wednesday i n J u l y o f e a c h y e a r , i f not a l e g a l h o l i d a y , and i f the day s e l e c t e d i s a l e g a l h o l i d a y , t h e n the meeting s h a l l be h e l d on the next b u s i n e s s day f o l l o w i n g . At the meeting, the d i r e c t o r s s h a l l e l e c t d i r e c t o r s , o f f i c e r s , and t r a n s a c t s u c h o t h e r b u s i n e s s a s may p r o p e r l y be brought b e f o r e the meeting. I f the a n n u a l meeting i s not h e l d on s u c h d a t e , the e l e c t i o n of d i r e c t o r s and o f f i c e r s may be h e l d a t any meeting of t h e d i r e c t o r s t h e r e a f t e r c a l l e d p u r s u a n t t o t h e s e B y l a w s .
3.09 R e g u l a r M e e t i n g s . R e g u l a r meetings of the Board of D i r e c t o r s may be h e l d a t such time and p l a c e as s h a l l from time to time be d e t e r m i n e d by the board.
3.10 S p e c i a l M e e t i n g s . S p e c i a l meetings of the Board of D i r e c t o r s may be c a l l e d a t any time by the p r e s i d e n t or by any two (2) d i r e c t o r s . N o t i c e of the meeting s h a l l be g i v e n to each d i r e c t o r a t l e a s t t h r e e (3) days b e f o r e such meeting. The purpose of s u c h m e e t i n g need not be s p e c i f i e d i n the n o t i c e or w a i v e r of n o t i c e o f s u c h meeting u n l e s s o t h e r w i s e r e q u i r e d by s t a t u t e , the A r t i c l e s o f I n c o r p o r a t i o n , or t h e s e B y l a w s .
3.11 N o t i c e . W r i t t e n or p r i n t e d n o t i c e s t a t i n g the day, hour, p l a c e , and i n the c a s e of a s p e c i a l meeting, the purpose or p u r p o s e s o f t h e meeting f o r which the meeting i s c a l l e d s h a l l be d e l i v e r e d not l e s s than t e n (10) nor more than s i x t y (60) days b e f o r e t h e d a t e of the meeting, e i t h e r p e r s o n a l l y or by m a i l , by or a t t h e d i r e c t i o n of t h e p e r s o n c a l l i n g the meeting, to each d i r e c t o r .
3.12 M a j o r i t y Vote. The v o t e of the h o l d e r s of a m a j o r i t y of t h e d i r e c t o r s , p r e s e n t , i n p e r s o n or by proxy, s h a l l d e c i d e any q u e s t i o n brought b e f o r e s u c h meeting. I f a s t a t u t e , t h e A r t i c l e s of I n c o r p o r a t i o n or t h e s e Bylaws e x p r e s s l y r e q u i r e a h i g h e r v o t e , the h i g h e r v o t e s h a l l govern.
3.13 Quorum. A m a j o r i t y o f t h e number of e l e c t e d d i r e c t o r s f i x e d by t h e s e Bylaws s h a l l c o n s t i t u t e a quorum f o r t h e t r a n s a c t i o n of b u s i n e s s ; however, a d i r e c t o r p r e s e n t by proxy may not be c o u n t e d toward a quorum. E x c e p t a s o t h e r w i s e s p e c i f i c a l l y p r o v i d e d by s t a t u t e , the A r t i c l e s of I n c o r p o r a t i o n , or t h e s e B y l a w s , t h e a c t of a m a j o r i t y of t h e d i r e c t o r s p r e s e n t a t a meeting a t which a quorum i s p r e s e n t s h a l l be the a c t o f the Board
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of D i r e c t o r s . I f a quorum i s not p r e s e n t a t a meeting of the Board of D i r e c t o r s , t h e d i r e c t o r s p r e s e n t may a d j o u r n the meeting from time t o t i m e , w i t h o u t n o t i c e , o t h e r than announcement a t t h e meeting, u n t i l a quorum i s p r e s e n t .
3.14 Compensation. Upon r e s o l u t i o n by the Board of D i r e c t o r s , t h e d i r e c t o r s may be p a i d t h e i r e x p e n s e s , i f any, f o r a t t e n d a n c e a t e a c h meeting of the Board of D i r e c t o r s . They may a l s o be p a i d a f i x e d sum f o r a t t e n d a n c e a t each D i r e c t o r s meeting, or a s t a t e d s a l a r y a s d i r e c t o r , upon a r e s o l u t i o n by the Board of D i r e c t o r s .
3.15 M i n u t e s . The Board of D i r e c t o r s s h a l l keep r e g u l a r minutes of i t s p r o c e e d i n g s . The minutes s h a l l be p l a c e d i n the minute book o f t h e C o r p o r a t i o n .
3.16 A c t i o n Without Meeting. Any a c t i o n r e q u i r e d to be t a k e n , or w h i c h may be t a k e n , a t a meeting of the Board of D i r e c t o r s or any committee, may be t a k e n i f a c o n s e n t , i n w r i t i n g , s e t t i n g f o r t h t h e a c t i o n , i s s i g n e d by a l l t h e d i r e c t o r s or committee members e n t i t l e d t o v o t e w i t h r e s p e c t t o the s u b j e c t m a t t e r t h e r e o f . T h i s c o n s e n t s h a l l have the same f o r c e and e f f e c t a s a unanimous v o t e of the Board of D i r e c t o r s or the committee members. The c o n s e n t may be more than one c o u n t e r p a r t , so long a s each d i r e c t o r or committee member s i g n s one of the c o u n t e r p a r t s . The s i g n e d c o n s e n t , or a s i g n e d copy, s h a l l be p l a c e d i n t h e minute book.
3.17 T e l e p h o n e and S i m i l a r M e e t i n g s . D i r e c t o r s and committ e e members may p a r t i c i p a t e i n and h o l d a meeting by means of c o n f e r e n c e t e l e p h o n e , or s i m i l a r communications equipment. P a r t i c i p a t i o n i n s u c h a meeting s h a l l c o n s t i t u t e p r e s e n c e i n p e r s o n a t t h e m e e t i n g , e x c e p t where a p e r s o n p a r t i c i p a t e s i n t h e meeting f o r t h e e x p r e s s purpose of o b j e c t i n g t o the t r a n s a c t i o n of any b u s i n e s s on t h e ground t h a t the meeting i s not l a w f u l l y c a l l e d or convened.
ARTICLE I V .
EXECUTIVE COMMITTEE
4.01 D e s i g n a t i o n . By r e s o l u t i o n of a m a j o r i t y of the whole board, the Board o f D i r e c t o r s may d e s i g n a t e an e x e c u t i v e comm i t t e e .
4.02 Number, Q u a l i f i c a t i o n and Term. The e x e c u t i v e committ e e s h a l l c o n s i s t o f one ( 1 ) or more d i r e c t o r s . The p r e s i d e n t s h a l l be a member of the e x e c u t i v e committee. The e x e c u t i v e committee s h a l l s e r v e a t the p l e a s u r e of the Board of D i r e c t o r s .
4.03 A u t h o r i t y . To the e x t e n t p r o v i d e d i n a r e s o l u t i o n adopted by a m a j o r i t y o f the whole board, the e x e c u t i v e committee s h a l l have and may e x e r c i s e a l l of the a u t h o r i t y o f the Board o f
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D i r e c t o r s i n the management of the b u s i n e s s and a f f a i r s of the C o r p o r a t i o n . The e x e c u t i v e committee s h a l l not have t h e a u t h o r i t y t o :
(A) amend t h e A r t i c l e s of I n c o r p o r a t i o n ;
(B) approve a p l a n of merger or c o n s o l i d a t i o n ;
(C) recommend t o the C o r p o r a t i o n the s a l e , l e a s e or exchange of a l l or s u b s t a n t i a l l y a l l of t h e a s s e t s of the Corpor a t i o n ;
(D) recommend t o t he C o r p o r a t i o n t h e v o l u n t a r y d i s s o l u t i o n , or r e v o c a t i o n of a v o l u n t a r y d i s s o l u t i o n , of the C o r p o r a t i o n ; j
(E ) amend, a l t e r or r e p e a l t h e s e B y l a w s , or adopt new By l a w s ;
( F ) f i l l v a c a n c i e s i n , or remove members o f , the Board of D i r e c t o r s ;
(G) f i l l v a c a n c i e s i n , or remove any members o f , a committee a p p o i n t e d by t h e Board of D i r e c t o r s ;
(H) e l e c t or remove o f f i c e r s ;
( I ) e l e c t or remove members of any committee;
( J ) f i x t h e compensation of the members of any committe e ;
(K) a l t e r or r e p e a l any r e s o l u t i o n of t h e Board of D i r e c t o r s which p r o v i d e s t h a t i t s h a l l not be amendable or r e p e a l a b l e .
4.04 Change i n Number. By r e s o l u t i o n adopted by a m a j o r i t y of t h e whole Board of D i r e c t o r s , the number of members of the e x e c u t i v e committee may be i n c r e a s e d or d e c r e a s e d .
4.05 Removal. A member of the e x e c u t i v e committee may be removed by t h e v o t e o f the m a j o r i t y of the whole Board of D i r e c t o r s , whenever, i n t h e i r judgment, t h e b e s t i n t e r e s t s of the C o r p o r a t i o n would be s e r v e d by such removal
4.06 V a c a n c i e s . A vacancy o c c u r r i n g b e c a u s e of death, r e s i g n a t i o n , removal or any o t h e r r e a s o n may be f i l l e d i n the manner p r o v i d e d f o r o r i g i n a l d e s i g n a t i o n i n Bylaw 4.01.
4.07 M e e t i n g s . Time, p l a c e and n o t i c e ( i f any) o f e x e c u t i v e committee meetings s h a l l be determined by t h e e x e c u t i v e committee.
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4.08 Quorum; M a j o r i t y Vote. A m a j o r i t y of the number of e x e c u t i v e committee members d e s i g n a t e d by t h e Board of D i r e c t o r s s h a l l c o n s t i t u t e a quorum f o r the t r a n s a c t i o n of b u s i n e s s . E x c e p t a s s p e c i f i c a l l y p r o v i d e d by s t a t u t e , t h e A r t i c l e s of I n c o r p o r a t i o n , or t h e s e B y l a w s , t h e a c t of a m a j o r i t y of the e x e c u t i v e committee members p r e s e n t a t any meeting a t which a quorum i s p r e s e n t s h a l l be t h e a c t of the e x e c u t i v e committee. I f a quorum i s not p r e s e n t a t a meeting, the members p r e s e n t may a d j o u r n t h e meeting, from time t o time, w i t h o u t n o t i c e , o t h e r t h a n an announcement a t the meeting, u n t i l a quorum i s p r e s e n t .
4.09 Compensation. Upon r e s o l u t i o n by the Board of D i r e c t o r s , the e x e c u t i v e committee members may be p a i d t h e i r e x p e n s e s , i f any, f o r a t t e n d a n c e a t each meeting of the e x e c u t i v e committee. They may a l s o be p a i d a f i x e d sum- f o r a t t e n d a n c e a t each e x e c u t i v e committee meeting, or a s t a t e d s a l a r y a s e x e c u t i v e committee member, upon a r e s o l u t i o n by t h e Board of D i r e c t o r s
4.10 P r o c e d u r e . The e x e c u t i v e committee s h a l l keep r e g u l a r minutes o f i t s p r o c e e d i n g s and r e p o r t the same to the Board of D i r e c t o r s when r e q u i r e d . The minutes of t h e p r o c e e d i n g s of t h e e x e c u t i v e committee s h a l l be p l a c e d i n t h e minute book of t h e C o r p o r a t i o n .
4.11 R e s p o n s i b i l i t y . The d e s i g n a t i o n of an e x e c u t i v e committee, and t h e d e l e g a t i o n of a u t h o r i t y to i t , s h a l l not o p e r a t e t o r e l i e v e the Board of D i r e c t o r s , or any member of the board, of any r e s p o n s i b i l i t y imposed on i t , or him or h e r , by law.
ARTICLE V.
NOTICES
5.01 Method. Whenever n o t i c e i s r e q u i r e d to be g i v e n (by s t a t u t e , the A r t i c l e s o f I n c o r p o r a t i o n , t h e s e Bylaws or o t h e r w i s e ) to a d i r e c t o r or e x e c u t i v e committee member and no p r o v i s i o n s p e c i f i e s how n o t i c e i s t o be g i v e n , such n o t i c e s h a l l be w r i t t e n or p r i n t e d , and may be g i v e n :
(A) i n p e r s o n ;
(B) by m a i l , p o s t a g e p r e p a i d , a d d r e s s e d to the d i r e c t o r or e x e c u t i v e committee member a t the a d d r e s s a p p e a r i n g on t h e books o f the C o r p o r a t i o n (any n o t i c e r e q u i r e d or p e r m i t t e d t o be g i v e n by m a i l s h a l l be deemed g i v e n a t t h e time when t h e same i s thus d e p o s i t e d i n t h e U n i t e d S t a t e s m a i l ) ; or
(C) i n any o t h e r method p e r m i t t e d by law.
5.02 Waiver. Whenever n o t i c e i s r e q u i r e d to be g i v e n (by s t a t u t e , the A r t i c l e s of I n c o r p o r a t i o n or t h e s e B y l a w s ) t o a e x e c u t i v e committee member or d i r e c t o r , a w a i v e r t h e r e o f , i n w r i t i n g , s i g n e d by t h e p e r s o n , or p e r s o n s , e n t i t l e d t o s u c h
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n o t i c e , whether b e f o r e or a f t e r t h e time s t a t e d i n s u c h n o t i c e , s h a l l be e q u i v a l e n t t o t h e g i v i n g of such n o t i c e . A t t e n d a n c e a t a meeting s h a l l c o n s t i t u t e a w a i v e r of n o t i c e of s u c h meeting, e x c e p t where a person a t t e n d s f o r the e x p r e s s purpose of o b j e c t i n g to t h e t r a n s a c t i o n of any b u s i n e s s on the ground t h a t t h e meeting i s not l a w f u l l y c a l l e d or convened. The w a i v e r of n o t i c e s h a l l s t a t e the d a t e , time and p l a c e of s u c h meeting, and i f r e q u i r e d by s t a t u t e , the A r t i c l e s o f I n c o r p o r a t i o n , or t h e s e B y l a w s , i t s h a l l a l s o s t a t e t h e b u s i n e s s t o be t r a n s a c t e d a t s u c h m e e t i n g .
ARTICLE V I .
OFFICERS AND AGENTS
6.01 Number.
(A) The C o r p o r a t i o n s h a l l have:
(1) a p r e s i d e n t , v i c e p r e s i d e n t , s e c r e t a r y and a t r e a s u r e r , and
(2) s u c h o t h e r o f f i c e r s ( i n c l u d i n g a chairman of the board and a d d i t i o n a l v i c e p r e s i d e n t s ) , a s s i s t a n t o f f i c e r s and a g e n t s a s the Board of D i r e c t o r s deems n e c e s s a r y .
(B) O f f i c e r s and a g e n t s of the C o r p o r a t i o n do not need to be d i r e c t o r s of the C o r p o r a t i o n , nor r e s i d e n t s o f the S t a t e o f T e x a s .
(C) Any two ( 2 ) o f f i c e s may be h e l d by t h e same p e r s o n .
6.02 E l e c t i o n . O f f i c e r s named i n Bylaw 6 . 0 1 ( A ) ( 1 ) s h a l l be e l e c t e d by the Board of D i r e c t o r s on the e x p i r a t i o n of an o f f i c e r ' s term, or whenever a v a c a n c y e x i s t s . O f f i c e r s named i n Bylaw 6 . 0 1 ( A ) ( 2 ) may be e l e c t e d by t h e Board a t any mee t i n g .
6.03 Term. U n l e s s o t h e r w i s e s p e c i f i e d a t t h e time of e l e c t i o n appointment or i n an employment c o n t r a c t approved by t h e Board, each o f f i c e r ' s and a g e n t ' s term s h a l l end a t t h e a n n u a l meeting of t h e Board of D i r e c t o r s . Each o f f i c e r and agent s h a l l s e r v e u n t i l the end of h i s or her term, or h i s or her d e a t h , r e s i g n a t i o n or removal.
6.04 Removal. Any o f f i c e r or agent e l e c t e d o r a p p o i n t e d by the B o ard of D i r e c t o r s may be removed by a v o t e o f a m a j o r i t y of the whole board whenever the board d e t e r m i n e s t h a t t h e b e s t i n t e r e s t s of the C o r p o r a t i o n would be s e r v e d by s u c h r e m o v a l . The c o n t r a c t r i g h t s of a removed p e r s o n s h a l l not be p r e j u d i c e d by s u c h a removal. E l e c t i o n or appointment of an o f f i c e r or agent s h a l l n o t , of i t s e l f , c r e a t e c o n t r a c t r i g h t s .
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6.05 V a c a n c i e s . Any vaca n c y o c c u r r i n g i n any o f f i c e (by death, r e s i g n a t i o n , removal, i n c r e a s e i n t h e number of o f f i c e r s of the C o r p o r a t i o n or o t h e r w i s e ) s h a l l be f i l l e d by the Board of D i r e c t o r s . The o f f i c e r or agent f i l l i n g t h e vaca n c y s h a l l h o l d o f f i c e u n t i l h i s or her s u c c e s s o r i s e l e c t e d .
6.06 A u t h o r i t y . O f f i c e r s and a g e n t s s h a l l have t h e a u t h o r i t y and pe r f o r m d u t i e s i n managing the C o r p o r a t i o n a s p r o v i d e d i n these B y l a w s , or a s determined by r e s o l u t i o n of the Board of D i r e c t o r s .
6.07 Compensation. The Board o f D i r e c t o r s s h a l l f i x the compensation of the o f f i c e r s and a g e n t s o f t h e C o r p o r a t i o n .
6.08 P r e s i d e n t . The p r e s i d e n t s h a l l be the c h i e f e x e c u t i v e o f f i c e r o f the C o r p o r a t i o n . The P r e s i d e n t s h a l l p r e s i d e a t a l l meetings of the C o r p o r a t i o n and the Board of D i r e c t o r s . The P r e s i d e n t s h a l l have g e n e r a l and a c t i v e management o f t h e b u s i n e s s and a f f a i r s of t h e C o r p o r a t i o n . The P r e s i d e n t s h a l l s e e t h a t a l l o r d e r s and r e s o l u t i o n s of the Board a r e c a r r i e d i n t o e f f e c t . The P r e s i d e n t s h a l l p e r f o r m such o t h e r d u t i e s and have s u c h o t h e r a u t h o r i t y and power a s the Board of D i r e c t o r s may p r e s c r i b e . The P r e s i d e n t may c a l l s p e c i a l meetings of t h e d i r e c t o r s .
6.09 V i c e P r e s i d e n t . U n l e s s the Bo a r d of D i r e c t o r s d e t e r mines o t h e r w i s e , t h e v i c e p r e s i d e n t s , i n t h e o r d e r o f t h e i r s e n i o r i t y , s h a l l p e r f o r m the d u t i e s , and s h a l l have the a u t h o r i t y and e x e r c i s e the powers of the p r e s i d e n t whenever t h e p r e s i d e n t i s absent or d i s a b l e d . They s h a l l p e r f o r m s u c h o t h e r d u t i e s and have such o t h e r a u t h o r i t y and powers as t h e Board of D i r e c t o r s may p r e s c r i b e , or as the p r e s i d e n t may d e l e g a t e .
6.10 S e c r e t a r y .
(A) The S e c r e t a r y s h a l l a t t e n d a l l m e e t i n g s o f t h e C o r p o r a t i o n and of the Board of D i r e c t o r s . The S e c r e t a r y s h a l l a l s o keep, or c a u s e to be kep t , i n a book p r o v i d e d f o r t h a t purpose, a t r u e and complete r e c o r d of t h e p r o c e e d i n g s a t su c h meetings, and s h a l l p erform a l i k e d u t y f o r a l l committees appointed by the Board of D i r e c t o r s , when r e q u i r e d .
(B) The S e c r e t a r y s h a l l g i v e , or c a u s e to be g i v e n , n o t i c e o f a l l meetings of the C o r p o r a t i o n and the Bo a r d o f D i r e c t o r s .
(C) The S e c r e t a r y s h a l l keep t h e C o r p o r a t i o n ' s s e a l i n s a f e c u s t o d y . When a u t h o r i z e d by the Board of D i r e c t o r s or t h e e x e c u t i v e committee, he s h a l l a f f i x t h e s e a l to any i n s t r u m e n t r e q u i r i n g i t . When a f f i x e d , i t s h a l l be a t t e s t e d by t h e s i g n a t u r e of the s e c r e t a r y , or by the t r e a s u r e r or a s s i s t a n t s e c r e t a r y .
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(D) The S e c r e t a r y s h a l l be under t h e s u p e r v i s i o n of t h e p r e s i d e n t . He s h a l l perform s u c h o t h e r d u t i e s and have s u c h o t h e r a u t h o r i t y and powers as the Board of D i r e c t o r s may p r e s c r i b e , o r a s t h e p r e s i d e n t may d e l e g a t e .
6.11 A s s i s t a n t S e c r e t a r y . U n l e s s the Board of D i r e c t o r s d e t e r m i n e s o t h e r w i s e , the a s s i s t a n t s e c r e t a r i e s , i n the o r d e r o f t h e i r s e n i o r i t y , s h a l l perform the d u t i e s , and s h a l l have t h e a u t h o r i t y and e x e r c i s e the powers of the s e c r e t a r y whenever t h e s e c r e t a r y i s absent or d i s a b l e d . They s h a l l p e r f o r m s u c h o t h e r d u t i e s and have such o t h e r powers a s the Board of D i r e c t o r s p r e s c r i b e s , or t h e p r e s i d e n t may d e l e g a t e .
6.12 T r e a s u r e r .
(A) The T r e a s u r e r s h a l l have c u s t o d y of the c o r p o r a t e funds and s e c u r i t i e s . The T r e a s u r e r s h a l l keep, or c a u s e t o be k e p t , f u l l and a c c u r a t e a c c o u n t s of r e c e i p t s and d i s b u r s e m e n t s of the C o r p o r a t i o n . The T r e a s u r e r s h a l l d e p o s i t a l l funds and o t h e r v a l u a b l e s i n the name and t o t h e c r e d i t of the C o r p o r a t i o n i n d e p o s i t o r i e s d e s i g n a t e d by t h e Board of D i r e c t o r s .
(B) The T r e a s u r e r s h a l l d i s b u r s e funds of t h e C o r p o r a t i o n a s o r d e r e d by the Board of D i r e c t o r s and s h a l l p r e p a r e f i n a n c i a l s t a t e m e n t s a s they d i r e c t .
(C) I f t h e Board of D i r e c t o r s r e q u i r e s , he s h a l l g i v e t h e C o r p o r a t i o n a bond ( i n su c h form, sum and w i t h s u c h s u r e t y or s u r e t i e s , a s s h a l l be s a t i s f a c t o r y to the Board) f o r t h e f a i t h f u l p e r f o r m a n c e of the d u t i e s of h i s or her o f f i c e and f o r t h e r e s t o r a t i o n to the C o r p o r a t i o n i n c a s e of h i s or her d e a t h , r e s i g n a t i o n , r e t i r e m e n t or removal from o f f i c e , o f a l l books, p a p e r s , v o u c h e r s , money and o t h e r p r o p e r t y , o f whatever k i n d , i n h i s o r her p o s s e s s i o n or under h i s or her c o n t r o l b e l o n g i n g t o t h e C o r p o r a t i o n .
(D) The T r e a s u r e r s h a l l perform s u c h o t h e r d u t i e s and have s u c h o t h e r a u t h o r i t y and powers as the Board of D i r e c t o r s may p r e s c r i b e , or a s the p r e s i d e n t may d e l e g a t e .
6.13 A s s i s t a n t T r e a s u r e r . U n l e s s o t h e r w i s e d e t e r m i n e d by the Board of D i r e c t o r s , the a s s i s t a n t t r e a s u r e r s , i n the o r d e r of t h e i r s e n i o r i t y , s h a l l p e r f o r m t h e d u t i e s and have t h e a u t h o r i t y and e x e r c i s e the powers of the t r e a s u r e r whenever t h e t r e a s u r e r i s a b s e n t or d i s a b l e d .
ARTICLE V I I .
GENERAL PROVISIONS
7.01 Books and R e c o r d s . The C o r p o r a t i o n s h a l l keep c o r r e c t and complete books and r e c o r d s of a c c o u n t . I t s h a l l keep m i n u t e s o f t h e p r o c e e d i n g s of i t s Board o f D i r e c t o r s and committees. The
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Board of D i r e c t o r s s h a l l m a i n t a i n c u r r e n t , t r u e , and a c c u r a t e f i n a n c i a l r e c o r d s w i t h f u l l and c o r r e c t e n t r i e s made w i t h r e s p e c t to a l l f i n a n c i a l t r a n s a c t i o n s of the C o r p o r a t i o n , i n c l u d i n g a l l income and e x p e n d i t u r e s , i n accordance w i t h g e n e r a l l y a c c e p t e d a c c o u n t i n g p r i n c i p l e s . A l l r e c o r d s , books, and a n n u a l r e p o r t s of the f i n a n c i a l a c t i v i t y of the C o r p o r a t i o n s h a l l be kept a t t h e r e g i s t e r e d o f f i c e or p r i n c i p a l o f f i c e of the C o r p o r a t i o n i n t h i s s t a t e f o r a t l e a s t t h r e e y e a r s a f t e r c l o s i n g of s u c h f i s c a l y e a r .
7.02 Annual Statement. The Board o J D i r e c t o r s s h a l l p r e p a r e , or cause t o be prepared, a f u l l and c l e a r s t a t e m e n t of the f i n a n c i a l a c t i v i t y of the C o r p o r a t i o n , i n c l u d i n g a s t a t e m e n t of s u p p o r t , revenue and expenses and changes i n fund b a l a n c e s , a statement of f i n a n c i a l expenses, and b a l a n c e s h e e t s , f o r a l l funds f o r the l a s t f i s c a l y e a r and f o r the p r i o r - f i s c a l y e a r , a l l prepared i n c o n f o r m i t y w i t h a c c o u n t i n g s t a n d a r d s a s promulgated by the American I n s t i t u t e of C e r t i f i e d P u b l i c A c c o u n t a n t s .
7.03 Checks and Notes. Checks, demands f o r money, and n o t e s of the C o r p o r a t i o n s h a l l be s i g n e d by an o f f i c e r , or o f f i c e r s , or other p e r s o n or p e r s o n s , d e s i g n a t e d from time t o time by t h e Board of D i r e c t o r s . U n l e s s i t i s o t h e r w i s e r e q u i r e d by s t a t u t e or d i r e c t e d by the Board of D i r e c t o r s , such i n s t r u m e n t s may be s i g n e d by any two (2) of the o f f i c e r s of the C o r p o r a t i o n . A l l deeds, mortgages, and o t h e r w r i t t e n c o n t r a c t s and agreements t o which t h e C o r p o r a t i o n s h a l l become a p a r t y , may, u n l e s s o t h e r w i s e d i r e c t e d by the Board of D i r e c t o r s , or u n l e s s o t h e r w i s e r e q u i r e d by law, be s i g n e d by the p r e s i d e n t . The Board of D i r e c t o r s may, a t any time, d e s i g n a t e o f f i c e r s , or employees of the C o r p o r a t i o n , o t h e r t h a n those named above, who may, i n the name o f t h e C o r p o r a t i o n , s i g n any of s u c h i n s t r u m e n t s .
7.04 F i s c a l Y e a r . The f i s c a l y e a r of t h e C o r p o r a t i o n s h a l l be f i x e d by the Board of D i r e c t o r s .
7.05 R e s i g n a t i o n . A d i r e c t o r , committee member, o f f i c e r or agent may r e s i g n by g i v i n g w r i t t e n n o t i c e to t h e p r e s i d e n t or t h e s e c r e t a r y . The r e s i g n a t i o n s h a l l t a k e e f f e c t a t t h e time s p e c i f i e d i n i t , or immediately, i f no time i s s p e c i f i e d . U n l e s s i t s p e c i f i e s o t h e r w i s e , a r e s i g n a t i o n t a k e s e f f e c t w i t h o u t b e i n g a c c e p t e d .
7.06 Amendment of Bylaws.
(A) These Bylaws may be a l t e r e d , amended or r e p e a l e d a t any meeting of t h e Board of D i r e c t o r s a t which a quorum i s p r e s e n t , by the a f f i r m a t i v e vote of a m a j o r i t y of t h e d i r e c t o r s p r e s e n t a t such m e e t i n g , i f n o t i c e of t h e proposed a l t e r a t i o n , cimendment or r e p e a l i s c o n t a i n e d i n the n o t i c e of the m e e t i n g .
(B) T hese Bylaws may a l s o be a l t e r e d , amended or r e p e a l e d a t any meeting of the C o r p o r a t i o n a t which a quorum i s p r e s e n t or r e p r e s e n t e d , by the a f f i r m a t i v e v o t e of a m a j o r i t y o f
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the d i r e c t o r s p r e s e n t or r e p r e s e n t e d a t the meeting and e n t i t l e d to v o t e t h e r e a t , i f n o t i c e of the proposed a l t e r a t i o n , amendment or r e p e a l i s c o n t a i n e d i n the n o t i c e of the meeting.
7.07 C o n s t r u c t i o n . Whenever the c o n t e x t so r e q u i r e s , the m a s c u l i n e s h a l l i n c l u d e the f e m i n i n e and n e u t e r , and "the s i n g u l a r s h a l l i n c l u d e the p l u r a l , and c o n v e r s e l y . I f any p o r t i o n o f t h e s e Bylaws s h a l l be i n v a l i d or i n o p e r a t i v e , then so f a r as i s r e a s o n a b l e and p o s s i b l e :
(A) the remainder of t h e s e Bylaws s h a l l be c o n s i d e r e d v a l i d and o p e r a t i v e ; and
(B) e f f e c t s h a l l be g i v e n to the i n t e n t m a n i f e s t e d by the p o r t i o n h e l d i n v a l i d or i n o p e r a t i v e .
7.08 Headings. The headings a r e f o r o r g a n i z a t i o n , conven i e n c e , and c l a r i t y . I n i n t e r p r e t i n g t h e s e Bylaws, the h e a d i n g s s h a l l be s u b o r d i n a t e d i n importance to the o t h e r w r i t t e n m a t e r i a l .
, S e c r e t a r y
, P r e s i d e n t
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