Orange County NC Website
5 <br />3 OS. Removal ~) A County Director may be removed only by such <br />Director's pointing authority. <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 ~ notice the meeting has indicated the possible removal of a Director as <br />amon~pu~oses of the meeting, or Vii) all Directors then serving in of tce are <br />in attendance at the meeting.. <br />3 06 Filling Vacancies. L) Any vacancy of a County Director may be <br />filled only by the proper appointing authority for such Director. <br />.(b) The Board ma~f ll vacancies among the Bank Directors or Small <br />Business Directors at any meetin~of the Directors, provided that (i notice o the <br />meeting has indicated the possible election of a Director as among the purposes of <br />the meeting, or iii) all Directors then serving in o face are in attendance at the <br />meetin~~ Director so elected to ill a vacancy shall serve until the next election <br />Directors and until such Director's successor is elected and c~uali ted. <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 />