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The criteria and procedures for admission of additional members and the conditions, <br /> rights, terms, and privileges of members shall all be as specified in the By-Laws of the <br /> Corporation. The By-Laws may establish more than one class of members. <br /> ARTICLE VIII <br /> BOARD OF DIRECTORS <br /> The property, affairs, and business of the Corporation shall be managed by its Board of <br /> Directors. The Board of Directors shall consist exclusively of persons directly appointed by the <br /> municipal utilities which are the members of the Corporation. The number, qualifications, terms <br /> of office, method of election, powers, authority, and duties of directors, the time and place of <br /> their meetings, and such other provisions with respect to the Board of Directors as are not <br /> inconsistent with these Articles of Incorporation, shall be as specified in the By-Laws of the <br /> Corporation. <br /> ARTICLE IX <br /> PERSONAL LIABILITY <br /> Neither the members, the directors, nor the officers of the Corporation shall be personally <br /> liable to any extent whatsoever for any debts or obligations of the Corporation, nor shall their <br /> property be subject to payment of any debts or obligations of the Corporation. <br /> ARTICLE X <br /> DISSOLUTION <br /> The Corporation may be dissolved in accordance with the laws of the State of Minnesota. <br /> Upon dissolution, and after payment of all liabilities and obligations of the Corporation and all <br /> costs and expenses incurred in connection with dissolution and winding up the affairs of the <br /> Corporation, any remaining assets shall be distributed to the municipal utilities which are the <br /> members of the Corporation in such proportions as shall be determined by: <br /> (a) the Board of Directors of the Corporation, if the dissolution of the Corporation is <br /> not required by the laws of the State of Minnesota, then in existence, to be <br /> conducted under court supervision; or <br /> (b) a court of competent jurisdiction, if the dissolution of the Corporation is required <br /> by the laws of the State of Minnesota, then in existence, to be conducted under <br /> court supervision. <br /> Notwithstanding anything to the contrary hereinabove contained in this Article X, if any <br /> assets at the time of dissolution are held by the Corporation in trust or upon condition or subject <br /> to any executory or special limitation, and if the condition or limitation occurs by reason of the <br />