The Board of Directors shall have general power to control and manage the affairs and property of the Corporation in accordance with the purposes and limitations set forth in the Articles of Incorporation. A current list of Directors shall be maintained as Schedule I herein. The initial directors shall be the persons named in the Articles of Incorporation. The titled directors shall be the President and the Controller of the Corporation and they shall serve as ex-officio voting members of the Board by virtue of their respective positions. Elected directors can serve successive terms and shall hold office until their sucessor has been elected.
All directors have voting rights.
Any director may resign from office at any time by delivering a resignation in writing to the President, and the acceptance of the resignation, unless required by its terms, shall not be necessary to make the resignation effective. Any vacancies on the Board of Directors arising at any time and from any cause shall be filled by the Board of Directors in a manner consistent with Section 2 hereof. Any Director so elected shall hold office until the next annual meeting of the Board of Directors and the election and qualification of his or her successor. Place, Time, and Mode of Meetings. The board shall hold an annual meeting on the second Saturday of June.