Section
104 Vacancies: Any vacancy in the Board shall be
filled from the pool of Prospective Directors for the
unexpired term by a majority vote of the remaining directors
present at any regular or special meeting called for
that purpose. When there are less than five Voting Directors
with no Prospective Directors, vacancies may be filled
by nomination of other Voting Directors. Once there
are 1000 voting members of Chimorel the Board will be
elected by the members.
Section
105 Duties and Powers: The Board shall be responsible
for the control and management of the affairs, property,
and interests of the Corporation and may exercise all
powers of the Corporation, except as limited by statute.
The Board will set the strategic direction of the Corporation,
establish budget guidelines and monitor the activities
of the Distribution Committees.
Section
106 Annual Meetings: As specified in the Code of
Regulations, the annual meeting of the members of the
Corporation and the Annual Meeting of the newly elected
Board of Directors shall be held concurrently, once
there are 1000 members. Such Annual Meeting(s) shall
be held on the first or second Saturday in February,
or at such other time as the Board may from time to
time establish.
Section
107 Other Meetings: There shall be at least one
additional meeting of Board of Directors each year,
held on the first or second Saturday in July, or at
such other time as the Board may from time to time establish.
The Board may provide by resolution for the holding
of other meetings and may fix the time and place thereof.
