2. FCCEDC Growth Initiative Fnd - Laserfiche WebLink

than 25% of the members. The form and timelines of the notice required for any such meeting shall be as provided in the Bylaws of the F-CCEDC. Section 5. PLACE OF MEETINGS. Meetings, whether regular or special, shall be held at the principal office of the Corporation unless otherwise determined by the members. Section 6. WAIVER OF NOTICE. Any member may waive notice of any meeting. Attendance of a member at any meeting shall constitute a waiver of notice of such meeting, except where such member attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened. Section 7. ACTION WITHOUT MEETING. Any action required or permitted to be taken at a meeting of the members may be taken and effective without a meeting if the consent to such action is in writing setting forth the action so taken and is signed by all members and filed with the records of the Corporation. Section 8. QUORUM. A majority of the number of members shall constitute a quorum for the transaction of any business at any meeting of the members, but if less than a majority is present at a meeting, a majority of the members present may adjourn the meeting from time to time without further notice. The act of a majority of the members present at a meeting at which a quorum is present shall be the act of the members. ARTICLE IV. Board of Directors Section 1. GENERAL POWERS. The business and the property of the Corporation shall be managed and controlled by its Board of Directors. The Directors may exercise all such powers and do all such things as may be exercised or done by the Corporation subject to the provisions of the Articles of Incorporation, these Bylaws, and all applicable law. Directors shall receive no compensation for their services as Directors, but this shall not restrict the payment of reasonable compensation to a Director when the Director renders administrative, professional or other bona fide services to the Corporation in a capacity other than as a Director. Section 2. NUMBER AND QUALIFICATIONS. The number of Directors of the Corporation shall be seven and shall be selected as follows: Two Directors shall be appointed by the Cass County Commission and such Directors shall reside in Cass County. One Director shall be appointed by the Fargo City Commission. One Director shall be appointed by the West Fargo City Commission. Three Directors shall be appointed by the Fargo-Cass County Economic Development Corporation. The entity appointing a Director shall have the right to remove a Director so appointed at any time and appoint a successor for such Director. Any vacancy occurring in the Board of Directors shall be promptly filled by appointment by the entity responsible for selecting such Director. Section 3. TERM. Directors shall be appointed to hold office for three (3) years and may not serve more than three (3) consecutive terms totaling no more than nine (9) consecutive years. Directors may be appointed for additional terms after a one (1) year break or absence from the Board of Directors.