Fargo, ND 58102. Each director has one vote, and fifty percent of the directors is a quorum. The applicants for incorporation shall become the First Directors of the Association. Successors to the First Directors shall be elected at the annual meeting following incorporation. Directors shall hold office for a term of one year.
Directors are eligible for re-election when their term expires.
A directorship shall become vacant by death, resignation, bankruptcy, judicial determination of mental incapacity, non attendance without notice or cause at three consecutive meetings of the Board of Directors, or removal by the Board. A motion to remove must be presented at the meeting of the Board before the meeting which will consider the motion. If the position held by an elected member becomes vacant, the board shall fill the vacancy from among the members of the association, and the person so appointed shall serve the remainder of the term to which the vacating director was elected. The directors are to serve without remuneration. No director may be directly or indirectly receive any profit from their position as director.