03-27-1990 PTRC Meeting Minutes - Laserfiche WebLink

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n corporate.records and which is delivered or mailed not less than 5 nor more than 30 days before the meeting, excluding the day of the meeting. (05) Waiver of Notice - Any member may make written waiver of notice before, at, or after a meeting. Appearance at a meeting is deemed a waiver unless it is solely for the purpose of asserting the illegality of the meeting. _ (06) Quorum - Five percent (5%) of the total voting membership eligible to vote, or 30 members, whichever is less, present in person or by proxy at a meeting for members shall constitute a quorum. 1.4) Proxies - At all meetings of members, a member may vote by proxy executed in writing by the member or by his or her duly authorized attorney-in- fact. Such proxy shall be filed with the executive secretary of the Corporation before or at the meeting. No proxy shall be valid after eleven (11) months from the date of its execution, unless otherwise provided in the proxy. 1.5) Rights Not Transferable - A member may not voluntarily or involuntarily transfer his or her membership or any right arising therefrom. 1.6) Termination - Membership in the Corporation may be terminated in any of the following ways: (01) Dues - For a general member, upon expiration of the period for which dues were received by the Corporation; • (02) Resignation - A member may terminate his or her membership in the n Corporation by delivering his or her written resignation to the president or executive secretary of the Corporation. The resignation shall be effective upon such officer's receipt thereof. (03) Termination of Existence - Membership in the Corporation shall automatically terminate upon the day in which the Corporation's existence is legally terminated. ARTICLE 2. BOARD OF DIRECTORS 2.1) General Powers - The property, affairs, and business of the Corporation shall be managed by the Board of Directors. 2.2) Qualificatins and Terms of Office - Directors are not required to be members of the Corporation. Commencing July 1, 1982, the Board of Directors will consist of 15 members, five of which shall be designated "A" directors whc shall have a term terminating on June 30, 1983, five of which shall be designated "B" directors who shall have a term terminating on June 30, 1984, and five of which shall be designated "C" directors who shall have a term terminating on June 30, 1985. After termination of the initial terms of the A, B and C directors, each succeeding director shall have a three-year term, and the power and authority • of all directors-shall be equal. Each successor or additional director shall hold office for a term of three years or until death, resignation, -inrApac-ity-- — nrovantina ndminirtratinn of nffire of Alrontnr --oval by A majority vote of the Board of Directors. No director of the Corporation shall serve for more 2.