Agenda - 10-09-2007-6b - Laserfiche WebLink

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3~ Section 11. Property. No property rights shall accrue to any Market Member. In case of dissolution, all property assets after payment of debts accrue to the Corporation as provided in the Articles of Incorporation. No Market Member will be liable. for the Corporation's debts or obligations. Section 12. Agents of Market Members. Any individual may perform activities on behalf of a Market Member, including selling at the Market, as designated by the Market Member. Article III Meetings of the Corporation's Membership Section 1. Annual Membership Meeting. The Corporation's Annual Membership Meeting will be held at a time and place designated by the Board of Directors sometime during the first quarter of the calendar year. Section 2. Regular and Special Meetings. The Board of Directors will establish a schedule of regular meetings of Market Members and designate the time and place of the meetings. Special meetings of Market Members may be called by the President, the Board of Directors, or by not less than one-fifth of the Corporation membership. . Section 3. Notice of Meetings. Notice of all annual, regular, and special meetings of Market Members will be prepared and mailed at least ten days and not more than 30 days prior to the date of each meeting to the last known postal address of each Market Member. Each notice will include the time, place, and purpose of the meeting. Section 4. Voting. Corporation membership votes occur as stated in Article II, Sections 2, 3, 4. One vote is allotted per Market Member. Membership votes may be conducted only at annual, regular, or special meetings when a quorum of Market Members is present. Section 5. Quorum. Market Members representing 50% of the total membership (rounded up in the case of an odd number of Market Members) will constitute a quorum. In the event that a quorum is not present, a meeting may be adjourned by the Market Members present until a quarum can be obtained. Section 6. Order of Business. Annual Membership Meetings will follow a standard order of business: 1 Officer roll call and quorum determination 2 Reading and approval of minutes 3 Officer reports 4 Committee reports 5 Unfinished business 6 New business 7 Adjournment Article IV Directors and Officers Section 1. General Powers. Corporation affairs will be managed by the Board of Directors. Directors must be residents of the state of North Carolina and must be active Corporation