Document:

Unassociated Document

    
      Exhibit
4.2

      

      BYLAWS, AS AMENDED ON APRIL
22, 2009

       

      

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        
 

        BYLAWS
OF

        

        HERITAGE
OAKS BANCORP

        

        (AS
AMENDED ON APRIL 22, 2009)

        

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        TABLE OF
CONTENTS

        

        
          
            	
                    ARTICLE
      I

                  	
                    OFFICES

                  	
                    PAGE

                  
	 
      	 
      	 
      
	
                    Sec.
      1. 1

                  	
                    Principal
      Offices

                  	
                    1

                  
	
                    Sec.
      1.2

                  	
                    Other
      Offices

                  	
                    1

                  
	 
      	 
      	 
      
	
                    ARTICLE
      11

                  	
                    MEETINGS
      OF SHAREHOLDERS

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      2. 1

                  	
                    Place
      of Meetings

                  	
                    1

                  
	
                    Sec.
      2.2

                  	
                    Annual
      Meeting

                  	
                    1

                  
	
                    Sec.
      2.3

                  	
                    Special
      Meeting

                  	
                    1

                  
	
                    Sec.
      2.4

                  	
                    Notice
      of Shareholders' Meetings

                  	
                    2

                  
	
                    Sec.
      2.5

                  	
                    Manner
      of Giving Notice: Affidavit of Notice

                  	
                    2

                  
	
                    Sec.
      2.6

                  	
                    Quorum

                  	
                    3

                  
	
                    Sec.
      2.7

                  	
                    Adjourned
      Meeting; Notice

                  	
                    3

                  
	
                    Sec.
      2.8

                  	
                    Voting

                  	
                    3

                  
	
                    Sec.
      2.9

                  	
                    Waiver
      of Notice or Consent by Absent Shareholders

                  	
                    4

                  
	
                    Sec.
      2. 10

                  	
                    Shareholder
      Action by Written Consent Without a Meeting

                  	
                    4

                  
	
                    Sec.
      2. 11

                  	
                    Record
      Date for Shareholder Notice, Voting, and Giving Consents

                  	
                    5

                  
	
                    Sec.
      2.12

                  	
                    Proxies

                  	
                    6

                  
	
                    Sec.
      2.13

                  	
                    Inspectors
      of Election

                  	
                    6

                  
	 
      	 
      	 
      
	
                    ARTICLE
      III

                  	
                    DIRECTORS

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      3.1

                  	
                    Powers

                  	
                    7

                  
	
                    Sec.
      3.2

                  	
                    Number
      and Qualification of Directors

                  	
                    8

                  
	
                    Sec.
      3.3

                  	
                    Election
      and Term of Office of Directors

                  	
                    8

                  
	
                    Sec.
      3.4

                  	
                    Vacancies

                  	
                    8

                  
	
                    Sec.
      3.5

                  	
                    Place
      of Meetings and Meetings by Telephone

                  	
                    9

                  
	
                    Sec.
      3.6

                  	
                    Annual
      Directors' Meeting

                  	
                    9

                  
	
                    Sec.
      3.7

                  	
                    Other
      Regular Meetings

                  	
                    9

                  
	
                    Sec.
      3.8

                  	
                    Special
      Meetings

                  	
                    9

                  
	
                    Sec.
      3.9

                  	
                    Quorum

                  	
                    10

                  
	
                    Sec.
      3. 10

                  	
                    Waiver
      of Notice

                  	
                    10

                  
	
                    Sec.
      3. 11

                  	
                    Adjournment

                  	
                    10

                  
	
                    Sec.
      3.12

                  	
                    Notice
      of Adjournment

                  	
                    10

                  
	
                    Sec.
      3.13

                  	
                    Action
      Without Meeting

                  	
                    10

                  
	
                    Sec.
      3.14

                  	
                    Fees
      and Compensation of Directors

                  	
                    11

                  
	 
      	 
      	 
      
	
                    ARTICLE
      IV

                  	
                    COMMITTEES

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      4.1

                  	
                    Committees
      of Directors

                  	
                    11

                  
	
                    Sec.
      4.2

                  	
                    Meetings
      and Action of Committees

                  	
                    11

                  

          

        

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

        
          
            	 
      	 
      	
                    PAGE

                  
	
                    ARTICLE
      V

                  	
                    OFFICERS

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      5.1

                  	
                    Officers

                  	
                    12

                  
	
                    Sec.
      5.2

                  	
                    Election
      of Officers

                  	
                    12

                  
	
                    Sec.
      5.3

                  	
                    Subordinate
      Officers

                  	
                    12

                  
	
                    Sec.
      5.4

                  	
                    Removal
      and Resignation of Officers

                  	
                    12

                  
	
                    Sec.
      5.5

                  	
                    Vacancies
      in Offices

                  	
                    13

                  
	
                    Sec.
      5.6

                  	
                    Vice
      Chairman of the Board

                  	
                    13

                  
	
                    Sec.
      5.7

                  	
                    Chairman
      of the Board

                  	
                    13

                  
	
                    Sec.
      5.8

                  	
                    President

                  	
                    13

                  
	
                    Sec.
      5.9

                  	
                    Vice
      Presidents

                  	
                    13

                  
	
                    Sec.
      5.10

                  	
                    Secretary

                  	
                    13

                  
	
                    Sec.
      5.11

                  	
                    Chief
      Financial Officer

                  	
                    14

                  
	 
      	 
      	 
      
	
                    ARTICLE
      VI

                  	
                    INDEMNIFICATION
      OF DIRECTORS, OFFICERS, AND OTHERS

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      6.1

                  	
                    Indemnification

                  	
                    14

                  
	 
      	 
      	 
      
	
                    ARTICLE
      VII

                  	
                    RECORDS
      AND REPORTS

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      7.1

                  	
                    Maintenance
      and Inspection of Share Register

                  	
                    15

                  
	
                    Sec.
      7.2

                  	
                    Maintenance
      and Inspection of Bylaws

                  	
                    15

                  
	
                    Sec.
      7.3

                  	
                    Maintenance
      and Inspection of Other Corporate Records

                  	
                    16

                  
	
                    Sec.
      7.4

                  	
                    Inspection
      by Directors

                  	
                    16

                  
	
                    Sec.
      7.5

                  	
                    Annual
      Report to Shareholders

                  	
                    16

                  
	
                    Sec.
      7.6

                  	
                    Financial
      Statements

                  	
                    16

                  
	
                    Sec.
      7.7

                  	
                    Annual
      Statement of General Information

                  	
                    17

                  
	 
      	 
      	 
      
	
                    ARTICLE
      VIII

                  	
                    GENERAL
      CORPORATE MATTERS

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      8.1

                  	
                    Record
      Date for Purposes Other Than Notice and Voting

                  	
                    17

                  
	
                    Sec.
      8.2

                  	
                    Checks,
      Drafts, Evidences of Indebtedness

                  	
                    18

                  
	
                    Sec.
      8.3

                  	
                    Corporate
      Contracts and Instruments; How Executed

                  	
                    18

                  
	
                    Sec.
      8.4

                  	
                    Certificates
      for Shares

                  	
                    18

                  
	
                    Sec.
      8.5

                  	
                    Lost
      Certificates

                  	
                    18

                  
	
                    Sec.
      8.6

                  	
                    Representation
      of Shares of Other Corporations

                  	
                    19

                  
	
                    Sec.
      8.7

                  	
                    Construction
      and Definitions

                  	
                    19

                  
	
                    Sec.
      8.8

                  	
                    Reimbursement

                  	
                    19

                  
	 
      	 
      	 
      
	
                    ARTICLE
      IX

                  	
                    AMENDMENTS

                  	 
      
	 
      	 
      	 
      
	
                    Sec.
      9.1

                  	
                    Amendment
      by Board of Directors or Shareholders

                  	
                    19

                  

          

        

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        BYLAWS
OF

        

        HERITAGE OAKS
BANCORP

        

        A
California Corporation

        

        ARTICLE
I

        OFFICES

        

        
          1.1           
Principal
Offices. The board of directors shall fix the location of the principal
executive office of the corporation at any place within or outside the State of
California. If the principal executive office is located outside this state, and
the corporation has one or more business offices in this state, the board of
directors shall fix and designate a principal business office in the State of
California.

           

        

        1.2           Other Offices.
   The board of directors may at any time establish branch
or subordinate offices at any place or places where the corporation is qualified
to do business.

        

        

        ARTICLE
II

        MEETINGS
OF SHAREHOLDERS

        

        2.1           Place of
Meetings.  Meetings of shareholders shall be held at any place
within or outside the State of California designated by the board of directors.
In the absence of any

        such
designation, shareholders' meetings shall be held at the principal executive
office of the

        corporation.

        

        2.2           Annual
Meeting.   The annual meeting of shareholders shall be
held each year on a date and at a time designated by the board of
directors.  The date so designated shall be within fifteen (15) months
after the last annual meeting.  At the annual meeting, directors shall
be elected, and any other proper business may be transacted.

        

        2.3           Special
Meeting.   A special meeting of the shareholders may be
called at any time by the board of directors, or by the chairman of the board,
or by the president,  or by one or more shareholders holding shares in
the aggregate entitled to cast not less than 10% of the votes at that
meeting.  If a special meeting is called by any person or persons
other than the board of directors, the request shall be in writing, specifying
the time of such meeting and the general nature of the business proposed to be
transacted, and shall be delivered personally or sent by registered mail or by
telegraphic or other facsimile transmission to the chairman of the board, the
president,  or the secretary of the corporation. The officer receiving
the request shall cause notice to be promptly given to the shareholders entitled
to vote, in accordance with the provisions of Sections 2.4 and 2.5 of this
Article II, that a meeting will be held at the time requested by the person or
persons calling the meeting, not less than thirty-five (35) nor more than sixty
(60) days after the receipt of the request. If the notice is not given within
twenty (20) days after receipt of the request, the person or persons requesting
the meeting may give the notice.

        
          
             

          

          
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        Nothing
contained in this paragraph of this Section 2.3 shall be construed as limiting,
fixing or affecting the time when a meeting of shareholders called by action of
the board of directors may be held.

        

        2.4           Notice Of Shareholders'
Meetings.   All notices of meetings of shareholders shall
be sent or otherwise given in accordance with Section 2.5 of this Article II not
less than ten (10) nor more than sixty (60) days before the date of the meeting.
Shareholders entitled to notice shall be determined in accordance with Section
2.11 of this Article II. The notice shall specify the place, date and hour of
the meeting and (i) in the case of a special meeting, the general nature of the
business to be transacted, or (ii) in the case of the annual meeting, those
matters which the board of directors, at the time of giving the notice, intends
to present for action by the shareholders. The notice of any meeting at which
directors are to be elected shall include the name of any nominee or nominees
whom, at the time of the notice, management intends to present for
election.

        

        If the
action is proposed to be taken at any meeting for (i) approval of a contract or
transaction in which a director has a direct or indirect financial interest,
pursuant to Section 310 of the Corporations Code of California, (ii) an
amendment of the articles of incorporation, pursuant to Section 902 of that
Code, (iii) a reorganization of the corporation, pursuant to Section 1201 of
that Code, (iv) a voluntary  dissolution of the corporation, pursuant
to Section 1900 of that Code, or (v) a distribution in dissolution other than in
accordance with the rights of outstanding preferred shares, pursuant to Section
2007 of  that Code, the notice shall also state the general nature of
that proposal.

        

        2.5           Manner Of Giving Notice:
Affidavit Of Notice.   Notice of any meeting of shareholders
shall be given either personally or by first-class or telegraphic or other
written communication, charges prepaid, addressed to the shareholder at the
address of that shareholder appearing on the books of the corporation or given
by the shareholder to the corporation for the purpose of notice. If no such
address appears on the corporation's books or is given, notice shall be deemed
to have been given if sent to that shareholder by first-class mail or
telegraphic or other written communication to the corporation's principal
executive office, or if published at least once in a newspaper of general
circulation in the county where that office is located. Notice shall be deemed
to have been given at the time when delivered personally or deposited in the
mail or sent by telegram or other means of written communication.

        

        If any
notice addressed to a shareholder at the address of that shareholder appearing
on the books of the corporation is returned to the corporation by the United
States Postal Service marked to indicate that the United States Postal Service
is unable to deliver the notice to the shareholder at that address, all future
notices or reports shall be deemed to have been duly given without further
mailing if these shall be available to the shareholder on written demand of the
shareholder at the principal executive office of the corporation for a period of
one year from the date of the giving of the notice. An affidavit of the mailing
or other means of giving any notice of any shareholders' meeting shall be
executed by the secretary, assistant secretary, or any transfer agent of the
corporation giving the notice, and shall be filed and maintained in the minute
book of the corporation.

        
          
             

          

          
            2

            
              

            

          

          
             

          

        

        

        2.6           Quorum.
  The presence in person or by proxy of the holders of a
majority of the shares entitled to vote at any meeting of shareholders shall
constitute a quorum for the transaction of business. The shareholders present at
a duly called or held meeting at which a quorum is present may continue to do
business until adjournment, notwithstanding the withdrawal of enough
shareholders to leave less than a quorum, if any action taken (other than
adjournment) is approved by at least a majority of the shares required to
constitute a quorum.

        

        2.7           Adjourned Meeting: Notice.
  Any shareholders' meeting, annual or special, whether or not
a quorum is present, may be adjourned from time to time by the vote of the
majority of the shares represented at that meeting, either in person or by
proxy, but in the absence of a quorum, no other business may be transacted at
that meeting, except as provided in Section 2.6 of this Article II.

        

        When any
meeting of shareholders, either annual or special, is adjourned to another time
or place,  notice need not be given of the adjourned meeting if the
time and place are announced at a meeting at which the adjournment is taken,
unless a new record date for the adjourned meeting is fixed, or unless the
adjournment is for more than forty-five (45) days from the date set for the
original  meeting, in which case the board of directors shall set a
new record date. Notice of any such adjourned meeting shall be given to each
shareholder of record entitled to vote at the adjourned meeting in accordance
with the provisions of Sections 2.4 and 2.5 of this Article II. At any adjourned
meeting the corporation may transact any business which might have been
transacted at the original meeting.

        

        2.8           Voting.
  The shareholders entitled to vote at any meeting of
shareholders shall be determined in accordance with the provisions of Section
2.11 of this Article II, subject to the provisions of Sections 702 to 704,
inclusive, of the Corporations Code of California (relating to voting shares
held by a fiduciary, in the name of a corporation, or in joint ownership). The
shareholders' vote may be by voice or by ballot; provided, however. that any
election for directors must be by ballot if demanded by any shareholder before
the voting has begun. On any matter other than elections of directors, any
shareholder may vote part of the shares in favor of the proposal and refrain
from voting the remaining shares or vote them against the proposal, but, if the
shareholder fails to specify the number of shares which the shareholder is
voting affirmatively, it will be conclusively presumed that the shareholder's
approving vote is with respect to all shares that the shareholder is entitled to
vote. If a quorum is present, the affirmative vote of the majority of the shares
represented at the meeting and entitled to vote on any matter (other than the
election of directors) shall be the act of the shareholders, unless the vote of
a greater number or voting by classes is required by California General
Corporation Law or by the articles of incorporation.

        

        
          
             

          

          
            3

            
              

            

          

          
             

          

        

        At a
shareholders' meeting at which directors are to be elected, no shareholder shall
be entitled to cumulate votes (i.e., cast for any one or more candidates a
number of votes greater than the number of the shareholder's shares) unless the
candidates' names have been placed in nomination prior to commencement of the
voting and a shareholder has given notice prior to commencement of the voting of
the shareholder's intention to cumulate votes. If any shareholder has given such
a notice, then every shareholder entitled to vote may cumulate votes for
candidates in nomination and give one candidate a number of votes equal to the
number of directors to be elected multiplied by the number of votes to which
that shareholder's shares are entitled, or distribute the shareholder's votes on
the same principle among any or all of the candidates, as the shareholder thinks
fit. The candidates receiving the highest number of votes, up to the number of
directors to be elected shall be elected.

        

        2.9           Waiver Of Notice Or Consent
By Absent Shareholders.   The transactions of any meeting of
shareholders, either annual or special. however called and noticed, and wherever
held, shall be as valid as though had at a meeting duly held after regular call
and notice, if a quorum be present either in person or by proxy, and if, either
before or after the meeting, each person entitled to vote, who was not present
in person or by proxy, signs a written waiver of notice or a consent to a
holding of the meeting, or an approval of the minutes. The waiver of notice or
consent need not specify either the business to be transacted or the purpose of
any annual or special meeting of shareholders, except that if action is taken or
proposed to be taken for approval of any of those matters specified in Section
601(f) of the California Corporations Code, the waiver of notice or consent
shall state the general nature of the proposal. All such waivers, consents or
approvals shall be filed with the corporate records or made a part of the
minutes of the meeting.

        

        Attendance
by a person at a meeting shall also constitute a waiver of notice of that
meeting, except when the person objects, at the beginning of the meeting, to the
transaction of any business because the meeting is not lawfully called or
convened, and except that attendance at a meeting is not a waiver of any right
to object to the consideration of matters not included in the notice of the
meeting if that objection is expressly made at the meeting.

        

        2.10         Shareholder Action By
Written Consent Without A Meeting.   Any action which maybe
taken at any annual or special meeting of shareholders may be taken without a
meeting and without prior notice, if a consent in writing, setting forth the
action so taken, is signed by the holders of outstanding shares having not less
than the minimum number of votes that would be necessary to authorize or take
that action at a meeting at which all shares entitled to vote on that action
were present and voted. In the case of election of directors, such a consent
shall be effective only if signed by the holders of all outstanding shares
entitled to vote for the election of directors; provided, however, that a
director may be elected at any time to fill a vacancy on the board of directors
that has not been filled by the directors, by the written consent of the holders
of a majority of the outstanding shares entitled to vote for the election of
directors. All such consents shall be filed with the secretary of the
corporation and shall be maintained in the corporate records. Any shareholder
giving a written consent, or the shareholder's proxy holders, or a transferee of
the shares or a personal representative of the shareholder or their respective
proxy holders, may revoke the consent by a writing received by the secretary of
the corporation before written consents of the number of shares required to
authorize the proposed action have been filed with the
secretary.

        
          
             

          

          
            4

            
              

            

          

          
             

          

        

        

        If the
consents of all shareholders entitled to vote have not been solicited in
writing, and if the unanimous written consent of all such shareholders shall not
have been received, the secretary shall give prompt notice of the corporate
action approved by the shareholders without a meeting. This notice shall be
given in the manner specified in Section 2.5 of this Article II. In the case of
approval of (i) contracts or transactions in which a director has a direct or
indirect financial interest, pursuant to Section 310 of the Corporations Code of
California, (ii) indemnification of agents of the corporation, pursuant to
Section 317 of that Code. (iii) a reorganization of the corporation, pursuant to
Section 1201 of that Code, and (iv) a distribution in dissolution other than in
accordance with the rights of outstanding preferred shares, pursuant to Section
2007 of that Code, the notice shall be given at least ten (10) days before the
consummation of any action authorized by that approval.

        

        2.11        Record Date For Shareholder
Notice, Voting, And Giving Consents.

        

        (a)           For
purposes of determining the shareholders entitled to notice of any meeting or to
vote or entitled to give written consent to corporate action without a meeting,
the board of directors may fix, in advance, a record date, which shall not be
more than sixty (60) days nor less than ten (10) days before the date of any
such meeting nor more than sixty (60) days before any such action without a
meeting, and in this event only shareholders of record on the date so fixed are
entitled to notice and to vote or to give consents, as the case may be
notwithstanding any transfer of any shares on the books of the corporation after
the record date, except as otherwise provided in the California General
Corporation Law.

        

        (b)           If
the board of directors does not so fix a record date:

        

        (i) The
record date for determining shareholders entitled to receive notice of and vote
at a shareholders' meeting shall be the business day next preceding the day on
which notice is given, or if notice is waived as provided in Section 2.9 of this
Article II, the business day next preceding the day on which the meeting is
held.

        

        (ii) The
record date for determining shareholders entitled to give consent to corporate
action in writing without a meeting, if no prior action has been taken by the
board, shall be the day on which the first written consent is
given.

        

        (iii) The
record date for determining shareholders for any other purpose shall be as set
forth in Section 8.1 of Article VIII of these bylaws.

        

        (c)           A
determination of shareholders of record entitled to receive notice of and vote
at a shareholders' meeting shall apply to any adjournment of the meeting unless
the board fixes a new record date for the adjourned meeting. However, the board
shall fix a new record date if the adjournment is to a date more than 45 days
after the date set for the original meeting.

        
          
             

          

          
            5

            
              

            

          

          
             

          

        

        

        (d)           Only
shareholders of record on the corporation's books at the close of business on
the record date shall be entitled to any of the notice and voting rights listed
in subsection (a) of this section, notwithstanding any transfer of shares on the
corporation's books after the record date, except as otherwise required by
law.

        

        2.12           Proxies.   Every
person entitled to vote for directors or on any other matter shall have the
right to do so either in person or by one or more agents authorized by a written
proxy signed by the person and filed with the secretary of the corporation. A
proxy shall be deemed signed if the shareholder's name is placed on the proxy
(whether by manual signature, typewriting, telegraphic transmission, or
otherwise) by the shareholder or the shareholder's attorney in fact. A validly
executed proxy which does not state that it is irrevocable shall continue in
full force and effect unless (i) revoked by the person executing it, before the
vote pursuant to that proxy, by a writing delivered to the corporation stating
that the proxy is revoked, or by a subsequent proxy executed by, or attendance
at the meeting and voting in person by, the person executing the proxy; or (ii)
written notice of the death or incapacity of the maker of that proxy is received
by the corporation before the vote pursuant to that proxy is counted; provided,
however, that no proxy shall be valid after the expiration of eleven (11) months
from the date of the proxy, unless otherwise provided in the proxy. The
revocability of a proxy that states on its face that it is irrevocable shall be
governed by the provisions of Sections 705(e) and 705(f) of the Corporations
Code of California.

        

        2.13           Inspectors Of Election.
  Before any meeting of shareholders, the board of directors
may appoint any persons other than nominees for office to act as inspectors of
election at the meeting or its adjournment. If no inspectors of election are so
appointed, the chairman of the meeting may, and on the request of any
shareholder or a shareholder's proxy shall, appoint inspectors of election at
the meeting. The number of inspectors shall be either one (1) or three (3). If
inspectors are appointed at a meeting on the request of one or more shareholders
or proxies, the holders of a majority of shares or their proxies present at the
meeting shall determine whether one (1) or three (3) inspectors are to be
appointed. If any person appointed as inspector fails to appear or fails or
refuses to act, the chairman of the meeting may, and upon the request of any
shareholder or a shareholder's proxy shall appoint a person to fill that
vacancy.

        

        These
inspectors shall:

        

        (a)           Determine
the number of shares outstanding and the voting power of each, the shares
represented at the meeting, the existence of a quorum, and the authenticity,
validity, and effect of proxies;

        

        
          
             

          

          
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        (b)           Receive
votes, ballots or consents;

        

        (c)           Hear
and determine all challenges and questions in any way arising in connection
with the right to vote;

        

        (d)           Count
and tabulate all votes or consents;

        

        (e)           Determine
when the polls shall close;

        

        (f)           Determine
the result; and

        

        (g)           Do
any other acts that may be proper to conduct the election or vote with
fairness
to all shareholders.

        

        ARTICLE
III

        DIRECTORS

        

        3.
1           Powers.  Subject
to the provisions of the California General Corporation Law and any limitations
in the articles of incorporation and these bylaws relating to action required to
be approved by the shareholders or by the outstanding shares, the business and
affairs of the corporation shall be managed and all corporate powers shall be
exercised by or under the direction of the board of directors.

        

        Without
prejudice to these general powers, and subject to the same limitations, the
directors shall have the power to:

        

        (a)           Select
and remove all officers, agents and employees of the corporation; prescribe any
powers and duties for them that are consistent with law, with the articles of
incorporation, and with these bylaws; fix their compensation; and require from
them security for faithful service.

        

        (b)           Change
the principal executive office or the principal business office in the State of
California from one location to another; cause the corporation to be qualified
to do business in any other state, territory, dependency, or country and conduct
business within or without the State of California, and designate any place
within or without the State of California for the holding of any shareholders'
meeting, or meetings, including annual meetings.

          

        (c)           Adopt,
make, and use a corporate seal, prescribe the forms of certificates of stock;
and alter the form of the seal and certificates.

        

        (d)           Authorize
the issuance of shares of stock of the corporation on any lawful terms, in
consideration of money paid, labor done, services actually rendered, debts or
securities canceled or tangible or intangible property actually
received.

        

        
          
             

          

          
            7

            
              

            

          

          
             

          

        

        (e)           Borrow
money and incur indebtedness on behalf of the corporation, and cause to be
executed and delivered for the corporation's purposes, in the corporate name,
promissory notes, bonds, debentures, deeds of trust, mortgages, pledges,
hypothecations, and other evidences of debt and securities.

        

        3.2           Number And Qualification Of
Directors.   The authorized number of directors shall not be
less than seven (7) nor more than thirteen (13) until changed by a duly adopted
amendment to  this bylaw adopted by the vote or written consent of a
majority of the outstanding shares entitled to vote.  The exact number
of directors shall be fixed from time to time, within the limits specified in
this Section 3.2 by a bylaw or amendment thereto or by a resolution duly adopted
by a vote of a majority of the shares entitled to vote represented at a duly
held meeting at which a quorum is present, or by the written consent of the
holders of a majority of the outstanding shares entitled to vote, or by the
board of directors.  The initial number of directors within the
foregoing limits is hereby fixed at nine (9).  Notwithstanding
anything in these bylaws to the contrary, for so long as the Corporation’s Fixed
Rate Cumulative Perpetual Preferred Stock, Series A (the “Designated Preferred
Stock”) is outstanding:  (i) whenever, at any time or times, dividends
payable on the shares of Designated Preferred Stock have not been paid for an
aggregate of six quarterly Dividend Periods (as defined in the Certificate of
Determination for the Designated Preferred Stock) or more, whether or not
consecutive, the authorized number of directors shall automatically be increased
by two (but shall in no event be increased to a number of directors that is
greater than the maximum number of directors set forth in Article III, Section
3.2 of these Bylaws); and (ii) this sentence may not be modified, amended or
repealed by the Corporation’s board of directors (or any committee thereof) or
without the affirmative vote and approval of (x) the stockholders and (y) the
holders of at least a majority of the shares of Designated Preferred Stock
outstanding at the time of such vote and approval.

        

        3.3           Election And Term Of Office
Of Directors.   Directors shall be elected at each annual
meeting of the shareholders to hold office until the next annual meeting. Each
director, including a director elected to fill a vacancy, shall hold office
until the expiration of the term for which elected and until a successor has
been elected and qualified.

        

        No
reduction of the authorized number of directors shall have the effect of
removing any director before that director's term of office
expires.

        

        3.4           Vacancies.
  A vacancy in the board of directors shall be deemed to exist
(a) if a director dies, resigns, or is removed by the shareholders or an
appropriate court, as provided in sections 303 or 304 of the California
Corporations Code; (b) if the board of directors declares vacant the office of a
director who has been convicted of a felony or declared of unsound mind by an
order of court, (c) if the authorized number of directors is increased; or (d)
if at any shareholders' meeting at which one or more directors are elected the
shareholders fail to elect the full authorized number of directors to be voted
for at that meeting.

        

        Any
director may resign effective on giving written notice to the chairman of the
board, the president, the secretary, or the board of directors, unless the
notice specifies a later effective date. If the resignation is effective at a
future time, the board may elect a successor to take office when the resignation
becomes effective.

        
          
             

          

          
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        Except
for a vacancy caused by the removal of a director, vacancies on the board may be
filled by a majority of the directors then in office, whether or not they
constitute a quorum, or by a sole remaining director. A vacancy on the board
caused by the removal of a director may be filled only by the shareholders,
except that a vacancy created when the board declares the office of a director
vacant as provided in clause (b) of the first paragraph of this section of the
bylaws may be filled by the board of directors.

        

        The
shareholders may elect a director at any time to fill a vacancy not filled by
the board of directors.

        

        The term
of office of a director elected to fill a vacancy shall run until the next
annual meeting of the shareholders, and such a director shall hold office until
a successor is elected and qualified.

        

        3.5           Place Of Meetings And
Meetings By Telephone.   Regular meetings of the board
of  directors may be held at any place within or outside the State of
California that has been designated from time to time by resolution of the
board.   In the absence of such a designation, regular meetings
shall be held at the principal executive office of the corporation. Special
meetings of the board shall be held at any place within or outside the State of
California that has been designated in the notice of the meeting or, if not
stated in the notice or there is no notice, at the principal executive office of
the corporation. Any meeting, regular or special, may be held by conference
telephone or similar communication equipment, so long as all directors
participating in the meeting can hear one another, and all such directors shall
be deemed to be present in person at the meeting.

        

        3.6           Annual Directors' Meeting.
  Immediately after each annual shareholders' meeting, the
board of directors shall hold a regular meeting at the same place, or at any
other place that has been designated by the board of directors, to consider
matters of organization, election of officers, and other business as desired.
Notice of this meeting shall not be required unless some place other than the
place of the annual shareholders' meeting has been designated.

        

        3.7           Other Regular Meetings.
  Other regular meetings of the board of directors shall be
held without call at such time as shall from time to time be fixed by the board
of directors. Such regular meetings may be held without notice.

        

        3.8           Special Meetings.
  Special meetings of the board of directors for any purpose or
purposes may be called at any time by the chairman of the board or the president
or the secretary or any two directors.

        

        Notice of
the time and place of special meetings shall be delivered personally or by
telephone to each director or sent by first-class mail or telegram, charges
prepaid, addressed to each director at that director's address as it is shown on
the records of the corporation. In case the notice is mailed, it shall be
deposited in the United States Mail at least four (4) days before the time of
the holding of the meeting. In case the notice is delivered personally, or by
telephone or telegram, it shall be delivered personally or by telephone or to
the telegraph company at least forty-eight (48) hours before the time of the
holding of the meeting. Any oral notice given personally or by telephone may be
communicated either to the director or to a person at the office of the director
who the person giving the notice has reason to believe will promptly communicate
it to the director. The notice need not specify the purpose of the meeting nor
the place if the meeting is to be held at the principal executive office of the
corporation.

        
          
             

          

          
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        3.9           Quorum.   A
majority of the authorized number of directors shall constitute a quorum for the
transaction of business, except to adjourn as provided in Section 3.11 of this
Article III. Every act or decision done or made by a majority of the directors
present at a meeting duly held at which a quorum is present shall be regarded as
the act of the board of directors, subject to the provisions of Section 310 of
the Corporations Code of California (as to approval of contracts or transactions
in which a director has a direct or indirect material financial interest),
Section 311 of that Code (as to appointment of committees), and Section 317(e)
of that Code (as to indemnification of directors). A meeting at which a quorum
is initially present may continue to transact business notwithstanding the
withdrawal of directors, if any action taken is approved by at least a majority
of the required quorum for that meeting.

        

        3.10           Waiver Of Notice.
  Notice of a meeting, although otherwise required, need not be
given to any director who (a) either before or after the meeting signs a waiver
of notice or a consent to holding the meeting without being given notice, (b)
signs an approval of the minutes of the meeting, or (c) attends the meeting
without protesting the lack of notice before or at the beginning of the
meeting.  Waivers of notice or consents need not specify the purpose
of the meeting. All waivers, consents, and approvals of the minutes shall be
filed with the corporate records or made a part of the minutes of the
meeting.

        

        3.11           Adjournment.
  A majority of the directors present, whether or not
constituting a quorum, may adjourn any meeting to another time and
place.

        

        3.12           Notice Of Adjournment.
  Notice of the time and place of holding an adjourned meeting
need not be given, unless the meeting is adjourned for more than twenty-four
(24) hours, in which case notice of the time and place shall be given before the
time of the adjourned meeting, in the manner specified in Section 3.8 of this
Article III, to the directors who were not present at the time of the
adjournment.

        

        3.13           Action Without Meeting.
  Any action required or permitted to be taken by the board of
directors may be taken without a meeting, if all members of the board shall
individually or collectively consent in writing to that action. Such action by
written consent shall have the same force and effect as a unanimous vote of the
board of directors. Such written consent or consents shall be filed with the
minutes of the proceedings of the board.

        

        
          
             

          

          
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        3.14           Fees And Compensation Of
Directors.    Directors and members of committees may
receive such compensation. if any, for their services, and such reimbursement of
expenses, as may be fixed or determined by resolution of the board of directors.
This Section 3.14 shall not be construed to preclude any director from serving
the corporation in any other capacity as an officer, agent, employee, or
otherwise, and receiving compensation for those services.

        

        ARTICLE
IV

        COMMITTEES

        

        4.1           Committees Of Directors.
  The board of directors may, by resolution adopted by a
majority of the authorized number of directors, designate one or more
committees, each consisting of two or more directors, to serve at the pleasure
of the board. The board may designate one or more directors as alternate members
of any committees, who may replace any absent member at any meeting of the
committee. Any committee, to the extent provided in the resolution of the board,
shall have all the authority of the board, except with respect to:

        

        (a)           the
approval of any action which, under the General Corporation Law of California,
also requires shareholders' approval or approval of the outstanding
shares;

        

        (b)           the
filling of vacancies on the board of directors or in any committee;

        

        (c)           the
fixing of compensation of the directors for serving on the board or on
any
committee;

        

        (d)           the
amendment or repeal of bylaws or the adoption of new bylaws;

        

        (e)           the
amendment or repeal of any resolution of the board of directors which
by its
express terms is not so amendable or reparable;

        

        (f)           a
distribution to the shareholders of the corporation, except at a rate or in a
periodic amount or within a price range determined by the board of directors;
or

        

        (g)           the
appointment of any other committees of the board of directors or the members of
these committees.

        

        4.2           Meetings And Action Of
Committees.   Meetings and action of committees shall be
governed by, and held and taken in accordance with, the provisions of Article
III of these bylaws, Sections 3.5 (place of meetings), 3.7 (regular meetings),
3.8 (special meetings and notice), 3.9 (quorum), 3.10 (waiver of notice), 3.11
(adjournment), 3.12 (notice of adjournment), and 3.13 (action without meeting),
with such changes in the context of those bylaws as are necessary to substitute
the committee and its members for the board of directors and its members, except
that the time of regular meetings of committees may be determined either by
resolution of the board of directors or by resolution of the committee; special
meetings of committees may also be called by resolution of the board of
directors; and notice of special meetings of committees shall also be given to
all alternate members, who shall have the right to attend all meetings of the
committee. The board of directors may adopt rules for the government of any
committee not inconsistent with the provisions of these bylaws.

        
          
             

          

          
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        ARTICLE
V

        OFFICERS

        

        5.1           Officers. The
officers of the corporation shall be a president, a secretary and a chief
financial officer. The corporation may also have, at the discretion of the board
of directors, a chairman of the board, a vice chairman of the board, one or more
vice presidents, one or more assistant secretaries, one or more assistant
treasurers, and such other officers as may be appointed in accordance with the
provisions of Section 5.3 of this Article V. Any number of offices may be held
by the same person.

        

        5.
2           Elections Of Officers.
  The officers of the corporation, except such officers as may
be appointed in accordance with the provisions of Section 5.3 or Section 5.5 of
this Article V, shall be chosen by the board of directors and each shall serve
at the pleasure of the board, subject to the rights, if any, of an officer under
any contract of employment.

        

        5.3           Subordinate Officers.
  The board of directors may appoint, and may empower the
president to appoint, such other officers as the business of the corporation may
require, each of whom shall hold office for such period, have such authority and
perform such duties as are provided in the bylaws or as the board of directors
may from time to time determine.

        

        5.4           Removal And Resignation Of
Officers.   Any officer chosen by the board of directors may be
removed at any time, with or without cause or notice, by the board of directors.
Subordinate officers appointed by persons other than the board under Section 5.3
of this Article V may be removed at any time, with or without cause or notice,
by the board of directors or by the officer by whom appointed. Officers may be
employed for a specified term under a contract of employment if authorized by
the board of directors; such officers may be removed from office at any time
under this section, and shall have no claim against the corporation or
individual officers or board members because of the removal except any right to
monetary compensation to which the officer may be entitled under the contract of
employment.

        

        Any
officer may resign at any time by giving written notice to the corporation. Any
resignation shall take effect at the date of the receipt of that notice or at
any later time specified in that notice; and, unless otherwise specified in that
notice, the acceptance of the resignation shall not be necessary to make it
effective. Any resignation is without prejudice to the rights, if any, of the
corporation under any contract to which the officer is a party.

        

        
          
             

          

          
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        5.5           Vacancies In Offices.
  A vacancy in any office because of death, resignation,
removal, disqualification or any other cause shall be filled in the manner
prescribed in these bylaws for regular appointments to that office.

        

        5.6           Chairman Of The Board.
  The chairman of the board, if such an officer be elected,
shall, if present, preside at meetings of the board of directors and
shareholders and exercise and perform such other powers and duties as may be
from time to time assigned to him by the board of directors or prescribed by the
bylaws.

        

        5.7           Vice Chairman Of The
Board.  The vice chairman of the board, if such an officer be
elected, shall, if present, and in the absence of the chairman of the board,
preside at all meetings of the board of directors and shareholders and exercise
and perform such other powers and duties as may be from time to time assigned to
him by the board of directors or prescribed by the bylaws.

         

        
          5.8           
President.  The
president shall be the chief executive officer of the corporation and shall,
subject to the control of the board of directors, have general supervision,
direction, and control of the business and the officers of the
corporation.  In the absence of the chairman of the board, or if there
be none, he shall preside at all meetings of the shareholders and at all
meetings of the board of directors.  He shall have the general powers
and duties of management usually vested in the office of president of a
corporation, and shall have such other powers and duties as may be prescribed by
the board of directors or the bylaws.

  

        5.9           Vice Presidents.
  If desired, one or more vice presidents may be chosen by the
board of directors in accordance with the provisions for electing officers set
forth in Section 5.2 of this Article V. In the absence or disability of the
president, the vice presidents, if any, in order of their rank as fixed by the
board of directors or, if not ranked, a vice president designated by the board
of directors, shall perform all the duties of the president, and when so acting
shall have all the powers of, and be subject to all the restrictions upon, the
president. The vice president shall have such other powers and perform such
other duties as from time to time may be prescribed for them respectively by the
board of directors or the bylaws, and the president, or the chairman of the
board.

        

        5.10         Secretary.

        

        (a)           Minutes.
  The secretary shall be present at all shareholders' meetings
and all board meetings and shall take the minutes of the meeting. If the
secretary is unable to be present, the secretary or the presiding officer of the
meeting shall designate another person to take the minutes of the
meeting.

        

        The
secretary shall keep, or cause to be kept, at the principal executive office or
such other place as designated by the board of directors, a book of minutes of
all meetings and actions of shareholders, board of directors, and of committees
of the board. The minutes of each meeting shall state the time and place the
meeting was held, whether it was regular or special; if special, how it was
called or authorized; the names of directors present at board or committee
meetings; the number of shares present or represented at shareholders' meetings;
and an accurate account of the proceedings.

        
          
             

          

          
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        (b)           Record Of Shareholders.
  The secretary shall keep, or cause to be kept, at the
principal executive office or at the office of the corporation's transfer agent
or registrar, a record or duplicate record of shareholders. This record shall
show the names of all shareholders and their addresses, the number and classes
of shares held by each, the number and date of share certificates issued for
each shareholder, and the number and date of cancellation of any certificates
surrendered for cancellation.

        

        (c)           Notice Of Meetings.
  The secretary shall give notice, or cause notice to be given,
of all shareholders' meetings, board meetings, and meetings of committees of the
board for which notice is required by statue or by the bylaws. If the secretary
or other person authorized by the secretary to give notice fails to act, notice
of any meeting may be given by any other officer of the
corporation.

        

        (d)           Other Duties,
  The secretary shall keep the seal of the corporation, if any,
in safe custody. The secretary shall have such other powers and perform other
duties as prescribed by the board of directors or by the bylaws.

        

        5.11         Chief Financial Officer.
  The chief financial officer shall keep and maintain, or cause
to be kept and maintained, adequate and correct books and records of accounts of
the properties and business transactions of the corporation, including accounts
of its assets, liabilities, receipts, disbursements, gains, losses, capital,
retained earnings, and shares. The books of account shall at all reasonable
times be open to inspection by any director.

        

        The chief
financial officer shall deposit all monies and other valuables in the name and
to the credit of the corporation with such depositories as may be designated by
the board of directors. He or she shall disburse the funds of the corporation as
may be ordered by the board of directors, shall render to the president and
directors, whenever they request it, an account of all of his transactions as
chief financial officer and of the financial condition of the corporation, and
shall have other powers and perform such other duties as may be prescribed by
the board of directors or the bylaws.

         

        

        ARTICLE
VI

        INDEMNIFICATION
OF DIRECTORS, OFFICERS

        EMPLOYEES,
AND OTHER AGENTS

        

        6.1           Indemnification.
  The corporation shall, to the maximum extent permitted by the
California General Corporation Law, have power to indemnify each of its agents
against expenses, judgments, fines, settlements and other amounts actually and
reasonably incurred in connection with any proceeding arising by reason of the
fact any such person is or was an agent of the corporation, and shall have power
to advance to each such agent expenses incurred in defending any such proceeding
to the maximum extent permitted by that law. For the purposes of this Article,
an "agent" of the corporation includes any person who is or was a director,
officer, employee or other agent of the corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust, or other enterprise, or was a
director, officer, employee, or agent of a corporation which was a predecessor
corporation of the corporation or of another enterprise at the request of such
predecessor corporation.

        
          
             

          

          
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        ARTICLE
VII

        RECORDS
AND REPORTS

        

        7.1           Maintenance And Inspection
Of Share Register.   The corporation shall keep at its
principal executive office, or at the office of its transfer agent or registrar,
if either be appointed and as determined by resolution of the board of
directors, a record of its shareholders, giving the names and addresses of all
shareholders and the number and class of shares held by each
shareholder.

        

        A
shareholder or shareholders of the corporation holding at least five percent
(5%) in the aggregate of the outstanding voting shares of the corporation may
(i) inspect and copy the records of shareholders' names and addresses and share
holdings during usual business hours on five days prior written demand on the
corporation, and (ii) obtain from the transfer agent of the corporation, on
written demand and on the tender of such transfer agent's usual charges for such
list, a list of the shareholders' names and addresses, who are entitled to vote
for the election of directors, and their share holdings, as of the most recent
record date for which that list has been compiled or as of a date specified by
the shareholder after the date of demand. This list shall be made available to
any such shareholder by the transfer agent on or before the later of five (5)
days after the demand is received or the date specified in the demand as the
date as of which the list is to be compiled. The record of shareholders shall
also be open to inspection on the written demand of any shareholder or holder of
a voting trust certificate, at any time during usual business hours, for a
purpose reasonably related to the holder's interest as a shareholder or as the
holder of a voting trust certificate. Any inspection and copying under this
Section 7.1 may be made in person or by an agent or attorney, of the shareholder
or holder of a voting trust certificate making the demand.

        

        7.
2           Maintenance And Inspection
Of Bylaws.   The corporation shall keep at its principal
executive office, or if its principal executive office is not in the State of
California, at its principal business office in this state, the original or a
copy of the bylaws as amended to date, which shall be open to inspection by the
shareholders at all reasonable times during office hours. If the principal
executive office of the corporation is outside the State of California and the
corporation has no principal business office in this state, the Secretary shall,
upon the written request of any shareholder, furnish to that shareholder a copy
of the bylaws as amended to date.

        

        
          
             

          

          
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        7.3           Maintenance And Inspection
Of Other Corporate Records.   The accounting books and records
and minutes of proceedings of the shareholders and the board of directors and
any committee
or committees of the board of directors shall be kept at such place or places
designated by the board of directors, or, in the absence of such designation, at
the principal executive office of the corporation. The minutes shall be kept in
written form and the accounting books and records shall be kept either in
written form or in any other form capable of being converted into written form.
The minutes and accounting books  and records shall be open to
inspection only in accordance with the requirements of California
Law.

         

        7.4           Inspection By Directors.
  Every director shall have the right to inspect all books,
records, documents and the physical properties of the corporation and each of
its subsidiary corporations only in accordance with the requirements of
California Law.

         

        7.5           Annual Report To
Shareholders.    The board of directors shall cause an
annual report to
be sent to the shareholders at least fifteen (15) days prior to the annual
meeting of shareholders but not later than one hundred and twenty (120) days
after the close of the fiscal year in accordance with the provisions of the
Corporations Code of California.

        

        7.6           Financial
Statements.  A copy of any annual financial statement and any
income statement of the corporation for each quarterly period of each fiscal
year, and any accompanying balance sheet of the corporation as of the end of
each such period, that has been prepared by the corporation shall be kept on
file in the principal executive office of the corporation for twelve (12) months
and each such statement shall be exhibited at all reasonable times to any
shareholder demanding an examination of any such statement or a copy shall be
mailed to any such shareholder.

        

        If a
shareholder or shareholders holding at least five percent (5%) of the
outstanding shares of any class of stock of the corporation makes a written
request to the corporation for an income statement of the corporation for the
three-month, six month, or nine-month period of the then current fiscal year
ended more than thirty (30) days before the date of the request, and a balance
sheet of the corporation as of the end of that period, the chief financial
officer shall cause that statement to be prepared, if not already prepared, and
shall deliver personally or mail that statement or statements to the person
making the request within thirty (30) days after the receipt of the request. If
the corporation has not sent to the shareholders its annual report for the last
fiscal year, this report shall likewise be delivered or mailed to the
shareholder or shareholders within thirty (30) days after the
request.

        

        The
corporation shall also, on the written request of any shareholder, mail to the
shareholder a copy of the last annual, semi-annual, or quarterly income
statement which it has prepared, and a balance sheet as of the end of that
period.

        

        
          
             

          

          
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        The
quarterly income statements and balance sheets referred to in this section shall
be accompanied by the report, if any, of any independent accountants engaged by
the corporation or the certificate of an authorized officer of the corporation
that the financial statements were prepared without audit from the books and
records of the corporation.

        

        7.7           Annual Statement Of General
Information.

        

        (a)           Every
year, during the calendar month in which the original articles of incorporation
were filed with the California Secretary of State, or during the preceding five
calendar months, the corporation shall file a statement with the Secretary of
State on the prescribed form, setting forth the authorized number of directors;
the names and complete business or residence addresses of all incumbent
directors; the names and complete business or residence addresses of the chief
executive officer, the secretary, and the chief financial officer; the street
address of the corporation's principal executive office or principal business
office in this state; a statement of the general type of business constituting
the principal business activity of the corporation; and a designation of the
agent of the corporation for the purpose of service of process, all in
compliance with Section 1502 of the Corporations Code of
California.

        

        (b)           Notwithstanding
the provisions of paragraph (a) of this section, if there has been no change in
the information contained in the corporation's last annual statement on file in
the Secretary of State's office, the corporation may, in lieu of filing the
annual statement described in paragraph (a) of this section, advise the
Secretary of State, on the appropriate form, that no changes in the required
information have occurred during the applicable period.

        

        ARTICLE
VIII

        GENERAL
CORPORATE MATTERS

        

        8.1           Record Date For Purposes
Other Than Notice And Voting.   For purposes of determining the
shareholders entitled to receive payment of any dividend or other distribution
or allotment of any rights or entitled to exercise any rights in respect of any
other lawful action (other than action by shareholders by written consent
without a meeting), the board of directors may fix, in advance, a record date,
which shall not be more than sixty (60) days before any such action, and in that
case only shareholders of record on the date so fixed are entitled to receive
the dividend, distribution, or allotment of rights or to exercise the rights, as
the case may be, notwithstanding any transfer of any shares on the books of the
corporation after the record date so fixed, except as otherwise provided in the
California General Corporation Law.

        

        If the
board of directors does not so fix a record date, the record date for
determining shareholders for any such purpose shall be at the close of business
on the date on which the board adopts the applicable resolution or the sixtieth
(60th) day before the date of that action, whichever is later.

        

        
          
             

          

          
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        8.2           Checks, Drafts, Evidences Of
Indebtedness.   All checks, drafts, or other orders for payment
of money, notes, or other evidences of indebtedness, issued in the name of or
payable to the corporation, shall be signed or endorsed by such person or
persons and in such manner as, from time to time, shall be determined by
resolution of the board of directors.

        

        8.3           Corporate Contracts And
Instruments: How Executed.   The board of directors, except as
otherwise provided in these bylaws, may authorize any officer or officers, agent
or agents, to enter into any contract or execute any instrument in the name of
and on behalf of the corporation, and this authority may be general or confined
to specific instances; and, unless so authorized or ratified by the board of
directors or within the agency power of an officer, no officer, agent, or
employee shall have any power or authority to bind the corporation by any
contract or engagement or to pledge its credit or to render it liable for any
purpose or for any amount.

        

        8.4           Certificates For Shares.
  A certificate or certificates for shares of the capital stock
of the corporation shall be issued to each shareholder when any of these shares
are fully paid, and the board of directors may authorize the issuance of
certificates or shares as partly paid provided that these certificates shall
state the amount of the consideration to be paid for them and the amount
paid.  All certificates shall be signed in the name of the corporation
by the chairman of the board or vice chairman of the board or the president or
vice president and by the chief financial officer or an assistant treasurer or
the secretary or any assistant secretary, certifying the number of shares and
the class or series of shares owned by the shareholder. Any or all of the
signatures on the certificate may be facsimile. In case any officer, transfer
agent, or registrar who has signed or whose facsimile signature has been placed
on a certificate shall have ceased to be that officer, transfer agent, or
registrar before that certificate is issued, it may be issued by the corporation
with the same effect as if that person were an officer, transfer agent, or
registrar at the date of issue.

        

        8.5           Lost Certificates.
  Except as provided in this Section 8.5, no new certificates
for shares shall be issued to replace an old certificate unless the latter is
surrendered to the corporation and canceled at the same time. The board of
directors may, in case any share certificate or certificate for any other
security is lost, stolen, or destroyed, authorize the issuance of a replacement
certificate on such terms and conditions as the board may require, including
provision for indemnification of the corporation secured by a bond or other
adequate security sufficient to protect the corporation against any claim that
may be made against it, including any expense or liability, on account of the
alleged loss, theft, or destruction of the certificate or the issuance of the
replacement certificate.

        

        8.6           Shares Of Other
Corporations: How Voted.   Shares of other corporations
standing in the name of this corporation shall be voted by one of the following
persons, listed in order of preference: (1)  president, or person
designated by the president; (2) first vice president, or person designated by
the first vice president; (3) other person designated by the board of directors.
The authority to vote shares granted by this section includes the authority to
execute a proxy in the name of the corporation for purposes of voting the
shares.

        
          
             

          

          
            18

            
              

            

          

          
             

          

        

        

        8.7           Construction And
Definitions.   Unless the context requires otherwise, the
general provisions, rules of construction, and definitions in the California
General Corporation Law shall govern the construction of these bylaws. Without
limiting the generality of this provision, the singular number includes the
plural, the plural number includes the singular, the term "person" includes both
a corporation and a natural person and the gender of a person stated as "he" or
"she" includes the other.

        

        8.8           Reimbursement.
  If all or part of the salary or other compensation paid to an
employee or officer or director of the corporation is finally determined not to
be allowable as a federal or state income tax deduction, the employee or officer
or director shall repay to the corporation the amount disallowed. The board of
directors shall enforce repayment of each such amount disallowed.

        

        ARTICLE
IX

        AMENDMENTS

        

        9.1           Amendment By Board Of
Directors Or Shareholders.   Except as otherwise
required by law or by the articles of incorporation, these bylaws may be amended
or repealed, and new bylaws may be adopted, by the board of directors or by the
holders of a majority of the outstanding shares entitled to
vote.

        

        
          
             

          

          
            19

            
              

            

          

          
             

          

        

        CERTIFICATE
OF SECRETARY

        

        HERITAGE
OAKS BANCORP

        

        The
undersigned, hereby certify that:

        

        (1)           I
am the duly elected and acting secretary of Heritage Oaks Bancorp, a California
corporation; and

        

        (2)           The
foregoing Bylaws (As Amended on April 22, 2009), consisting of 19 pages
constitute the Bylaws of said Corporation as duly adopted at a meeting of the
board of directors dated April 22, 2009.

        

        IN
WITNESS WHEREOF, I have hereunto subscribed my name and affixed the seal of said
Corporation on April 22, 2009.

        

        /s/ William
Raver__________________

        William
Raver, Secretary

        

      

       

       

      
        
          
          

        

        
          20Unassociated Document

    FIRST
AMENDMENT TO SECURITIES PURCHASE AGREEMENT

    

    This
FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT, dated as of April 22, 2009
(the “Amendment”), is by
and among Bison Capital Equity Partners II-A, L.P., a Delaware limited
partnership, and Bison Capital Equity Partners II-B, L.P., a Delaware limited
partnership (collectively, the “Purchaser”), on the one hand, and The Center for
Wound Healing, Inc., a Nevada corporation (the “Company”), on the other
hand.  Any capitalized term used but not otherwise defined herein
shall have the same meaning as set forth in the Agreement (as defined
below).

    

    WHEREAS, the parties to the Amendment
are parties to the Securities Purchase Agreement, dated as of March 31, 2008
(the “Agreement”);
and

    

    WHEREAS, the parties desire to amend
the Agreement as set forth herein.

    

    NOW, THEREFORE, in consideration of the
premises and mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows:

    

    1.           The
definition of “Put Price” set forth in Section 1.1 of the Agreement is hereby
amended and restated in its entirety to read as follows:

    

    “Put Price” shall mean
the result of (A) the product of (a) the Equity Stake Fraction multiplied by an
amount equal to (b) (i) the Assumed Multiple multiplied by the Consolidated
Adjusted EBITDA (certified by the Company’s Chief Financial Officer) for the
trailing twelve month period ending on the last day of the month immediately
preceding the date that the Put Option Notice is delivered, plus (ii) all cash
and Cash Equivalents of the Credit Parties as of the end of the month
immediately preceding the date that the Put Option Notice is delivered, minus
(iii) all indebtedness of the Credit Parties to unaffiliated third parties
incurred in the ordinary course of business (other than Indebtedness incurred in
violation of any provision hereof and including the Note) outstanding as of the
end of the month immediately preceding the date that the Put Option Notice is
delivered, minus (B) the Exercise Price (as defined in the Warrant Agreement)
multiplied by the aggregate number of Warrant Securities (as defined in the
Warrant Agreement).

    

    2.           All
other terms and conditions of the Agreement shall remain in full force and
effect and shall not be affected by the Amendment.

    

    3.           The
Amendment may be executed in any number of counterparts, each of which shall be
deemed to be an original as against any party whose signature appears thereon,
and all of which shall together constitute one and the same
instrument.  The Amendment shall become binding when one or more
counterparts hereof, individually or taken together, shall bear the signatures
of all of the parties reflected hereon as the signatories.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    4.           Sections
14.5, 14.6, 14.7 and 14.8 of the Agreement are hereby incorporated by reference
and made a part of the Amendment mutatis mutandis.

    

    [Signature
Page Follows]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    IN WITNESS WHEREOF, the parties hereto
have each caused the Amendment to be duly signed as of the date first above
written.

     

    
      	 	

              BISON
      CAPITAL EQUITY PARTNERS II-A, L.P.

              

              By:
      BISON CAPITAL PARTNERS II, LLC, its general partner

              

              By:  _/s/_ Douglas
      Trussler___

              

              Name:
      Douglas B. Trussler

              

              Title:  Managing
      Member

              

              

              BISON
      CAPITAL EQUITY PARTNERS II-B, L.P.

              

              By:
      BISON CAPITAL PARTNERS II, LLC, its general partner

              

              By:  _/s/_ Douglas
      Trussler___

              

              Name:
      Douglas B. Trussler

              

              Title:  Managing
      Member

               

               

              THE
      CENTER FOR WOUND HEALING, INC.

              

              By:  _/s/_ Andrew
      Barnett__

              

              Name:
      Andrew G. Barnett

              

              Title:  Chief
      Financial Officer

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