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<br />. . <br /> <br />.. " <br /> <br />;.. "'" <br /> <br />, <br />~ <br /> <br />" .\..:-" <br /> <br />t.' ~', <br /> <br />\ <br />I <br /> <br />BYLAWS <br />OF <br /> <br />GROWTH INITIATIVE FUND <br /> <br />ARTICLE I. <br />Offices <br /> <br />The principal office of the CQrporation shall be located in <br />the City of Fargo, CassCounty, North Dakota. The Corporation may <br />have such other offices, either within or without the State of <br />North Dakota, as the Board of Directors may designate or as the <br />business of the Corporation may require from time to time. <br /> <br />The registered office of the Corporation required by the North <br />Dakota Nonprofit Corporation Act to be maintained in North Dakota <br />shall be the principal office of the Corporation in Fargo, North <br />Dakota. The address of the registered and principal office may be <br />changed from time tò time by the Board of Directors. <br /> <br />ARTICLE II. <br />Membership <br /> <br />, " <br /> <br />'Sebtion 1; " MEMBERS.' The members of, this' Córporati~n shall' <br />be composed of those persons who are Directors of the Fargo-Cass <br />County Economic Development Corporation. When any person shall <br />cease to be a Director of the Fargo-Cass County Economic <br />Development Corporation such person shall cease to be a member of <br />this Corporation automatically and without any affirmative action <br />on the part of the Corporation. <br /> <br />Section 2. , POWERS. RIGHTS AND DUTIES. The powers, duties <br />and rights reserved to the members shall include but not be limited <br />to the right to approve the annual budget of the Corporation and to <br />make appropriate changes in the budget from time to time. <br /> <br />Section 3. MEETING. Regular meetings of the members shall <br />be held on an annual basis. The members shall approve the annual <br />budget of the Corporation and may transact any other business <br />provided, however, that no business with respect to which special <br />notice is required by law sQpll be transacted unless such notice <br />shall have been given. <br /> <br />Section 4. SPECIAL MEETINGS. Special meetings of the <br />Corporation may be held at any meeting of the Board of Directors of <br />'Fargo-Cass County Economic Development Corporation whether that <br />meeting was called expressly as a meeting of the members of the <br />Corporation or for any other purpose. Special meetings of the <br />members may be called by or at the request of the President any two <br />Directors or by not less than 25% of the members. Notice required <br />