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Agenda 8-e - New Three-Year Interlocal Agreement between Orange County and the Town of Chapel Hill to Continue Joint Funding for the “LAUNCH, Inc.” Small Business Incubator
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Agenda 8-e - New Three-Year Interlocal Agreement between Orange County and the Town of Chapel Hill to Continue Joint Funding for the “LAUNCH, Inc.” Small Business Incubator
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BOCC
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2/19/2019
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Regular Meeting
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Agenda
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Agenda - 02-19-2019 Regular Meeting
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19 <br /> f. Have the care and the custody of all monies belonging to the Corporation <br /> and shall be responsible for the proper accounting for such monies or <br /> securities of the Corporation. <br /> g. Have the ability to contract for such services, goods, and property, real or <br /> personal, as is deemed necessary for the operation of the Corporation. <br /> h. Perform all duties incident to the office of each Coordinator and such <br /> other duties as from time to time may be assigned to him or her by the <br /> Board of Directors. <br /> 8. Other Officers. Additional Officers of the Board may be appointed by resolution <br /> of the Board of Directors. <br /> 9. Officer Elections: <br /> a. Officers of the Board of Directors shall be elected by the Board of <br /> Directors at the Annual Meeting, or, in case of a vacancy, as soon as <br /> practicable thereafter. <br /> b. Terms: <br /> i. Each Officer of the Board of Directors shall serve for a one (1) <br /> year term. <br /> ii. No Officer of the Board of Directors may serve more than four (4) <br /> consecutive terms. <br /> iii. After four (4) consecutive terms, Officer members must not serve <br /> as an Officer for one year before a term cycle may begin anew. <br /> c. Removal: <br /> i. An Officer may be removed for cause by a two-thirds (2/3) vote of <br /> the Board of Directors. <br /> d. Vacancies: <br /> i. Vacancies in an Officer position may be filled by a majority vote <br /> of the members of the Board of Directors. <br /> 10. Officers Serving in Multiple Capacities: <br /> a. The same individual may simultaneously hold more than one office in the <br /> Corporation, but the same person shall not serve as both Chair and <br /> Treasurer. No individual may act in more than one capacity where action <br /> of two or more Officers is required. <br /> Article VIII—Compensation for Officers and Directors <br /> 1. Directors and Officers shall serve without compensation with the exception that <br /> expenses incurred in the furtherance of the Corporation's business may be <br /> reimbursed with documentation and prior approval. Directors and Officers serving <br /> the Corporation in any other capacity, such as staff, are allowed to receive <br /> compensation in that capacity. <br /> Article IX— Committees <br /> 1. Appointment: <br /> a. The Board of Directors may establish one or more committees or advisory <br /> boards of the Corporation. <br /> 5 <br />
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