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4.6. SR 05-20-2013
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4.6. SR 05-20-2013
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5 (C ) hereof shall automatically be Directors unless and until such <br /> ] time as another Member is allocated a greater number of votes than <br /> any one of the three such Directors , at which time the <br /> Representative of such Member shall automatically 'replace such <br /> Director on the Board of Directors . The other four Directors <br /> shall be elected as provided in subsection ( 2) hereof . <br /> ( 2) Four of the Directors shall be elected by the <br /> Representatives . All Representatives, other than those entitled <br /> automatically to be Directors, shall be entitled to vote for such <br /> Directors . Weighted voting shall not apply to the election of <br /> Directors and in such election each such Representative shall be <br /> entitled to the same vote or votes as all other Representatives. <br /> one of the elected Directors shall have a term of one (1 ) year; <br /> one of the elected Directors shall have a term of two ( 2) years ; <br /> and two of the elected Directors shall have a term of three ( 3 ) <br /> years, provided that such terms shall expire at the annual meeting <br /> of the Representatives in the year in which the term is to expire . <br /> Directors ) shall be elected at the annual meeting of the <br /> Representatives in each year to replace that Director (s ) whose <br /> term has expired , and each Director subsequently elected shall <br /> have a term of three ( 3 ) years . <br /> Any Director whose term has expired but who has not been <br /> replaced by another Director shall cantinue as such Director until <br /> so replaced . <br /> If the term of a Representative who is also a Director should <br /> expire or should such Representative resign or become incapable of <br /> acting for any reason , the successor to such Representative, <br /> appointed by the Member in accordance with section 5 hereof , shall <br /> assume the vacancy on the Board of Directors created thereby . <br /> Any Representative who has been elected to the Board of <br /> Directors in accordance with subsection ( 2) above , and who , during <br /> the term thereof , shall be entitled to automatic representation on <br /> the Board of Directors , pursuant to subsection ( 1 ) hereof , shall <br /> remain a Director , and the vacancy caused by the automatic <br /> resignation of the other Director shall be filled by a <br /> Representative elected as provided in subsection ( 2 ) above, whose <br /> term shall expire on the date on which the term of the Director <br /> previously elected would have expired . <br /> The Board of Direc-tors shall elect , annually , from their <br /> number , a Chairman, a vice-Chairman , a secretary and a Treasurer. <br /> Directors who have been elected may be reproved for cause at a <br /> special meeting of the Representatives called for that purpose by <br /> the of firrnative vote of ( i ) two-thirds of the Representatives , <br /> each casting one vote , anc ( ii ) two-thirds of the votes cast by <br /> the Representatives in accordance with the weighted voting formula <br /> - 10 - <br />
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