Orange County NC Website
4 <br />(b) A Bank Director or Small Business Director may be removed from <br />office, without cause, by the vote of not less than four Directors, provided that <br />either (i) notice of the meeting has indicated the possible removal of a Director as <br />among the purposes of the meeting, or (ii) all Directors then serving in office are in <br />attendance at the meeting. <br />3.06. Filling Vacancies. (a) Any vacancy of a County Director may be <br />filled only by the proper appointing authority for such Director. <br />(b) The Board may fill vacancies among the Bank Directors or Small <br />Business Directors at any meeting of the Directors, provided that (i) notice of the <br />meeting has indicated the possible election of a Director as among the purposes of <br />the meeting, or (ii) all Directors then serving in office are in attendance at the <br />meeting. Any Director so elected to fill a vacancy shall serve until the next election <br />of Directors and until such Director's successor is elected and qualified. <br />3.07. Compensation. No officer or Director of the Company shall receive <br />any compensation for service to the Company in any capacity, except that County <br />Directors and other. County officers and employees may perform services to the <br />Company as part of their respective. positions with the County. Directors and <br />officers may, however, receive appropriate reimbursement for expenditures made <br />on behalf of the Company and approved by the Board, and in addition Directors <br />and officers may receive meals and services in connection with Board or <br />committee meetings. <br />