4.6. SR 05-20-2013 - Laserfiche WebLink

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described in Section 9 (C ) hereof . Any director elected pursuant 1 to subsection ( 2) above and removed for cause shall be replaced by a Representative elected provided hall expires eon xthe date bone whi h the term of such new Der actor the removed Director ' s to tione one t the Board of Directors is entitled to automatic p resenta pursuant to subsection ( 1 ) above elected and as pro moved idedf in subsect onl (1) replaced by a Representative above , who shall remain a Director until the Member selects a successor Representative to replace such removed Director, at which time such successor Representative shall replace such new Director.. Meetings of the Bo of the Bylaws , shall be held in accordance with the provisions (P) Hv�laws. The Board of Directors shall recommend and the Representatives shall adapt Bylaws for the conduct cif the affairs of the Municipal Power Agency. The Bylaws shall state the powers delegated to the Chairman , vice-Chairman , Secretary and Treasurer .by The Bylaws may establish the office ' of. Preside scar}�foero the an employee and such other offices as it ,�and conduct, of the affairs resolution e may pest. bush Agency ,c d�aLies and Board of Directors y compensation of such offices . y Bylaws , resolution ( G) poems. Unless restricted b the B 1ar►s , y adopted by a majority of the votes cast by the Representatives or by contract, the Municipal Power Agency may exercise any and all of the powers , rights and privileges granted to Agencies under the Act. ( H ) Restrictions on Powers . The Municipal Power Agency shall be subject to the following restrictions : ( i ) it shall engage only in activities which are permitted by the Act ; ( ii ) its income shall not inure to any private persons or corporations ; ( iii ) if the Municipal Power Agency: shall be dihall v be of ter payment of all indebtedness, all of its asset_ distributed to its Members ; and ( iv ) no Member shall be individually liable for any indebtedness incurred by the Municipal Power Agency nor for the indebtedness of any other Member , nor liable for any purpose in excess of the assessments made against that Member , determined as provided in Section i ( I ) .