Board/Bylaws: Difference between revisions
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Created page with "==Article 1: The Foundation== ===Name=== The name of this corporation is the WikiOasis Foundation (the "Foundation"). ===Purpose=== Consistent with the Articles of Incorporation, and until such time that the Articles of Incorporation have been amended, this Foundation is formed to engage in any lawful public tax-exempt nonprofit business purpose, in compliance with section 501(c)(3) of the Internal Revenue Code. ===Formation=== This Foundation is formed pursuant to the..." Tags: Mobile edit Mobile web edit Advanced mobile edit |
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A Director may resign at any time by providing written notice to the Secretary or President. Such resignation shall be effective immediately, unless a later date is specified in the notice. | A Director may resign at any time by providing written notice to the Secretary or President. Such resignation shall be effective immediately, unless a later date is specified in the notice. | ||
===Removal of Directors=== | ===Removal of Directors=== | ||
A Director may be removed from the Board by two-thirds of the Board with or without cause. | A Director may be removed from the Board, at a meeting called specifically for the removal of a Director by two-thirds of the Board with or without cause. | ||
==Remuneration== | |||
The Board may adopt a resolution that results in Directors being paid reasonable remuneration for their service as Directors or provide for reimbursement of actual costs incurred in connection to Foundation activities. However, no Director shall receive excessive compensation while serving as Director. The Board shall exercise diligence in ensuring that no Director receives excessive compensation, including, but not limited to, by adopting a conflict of interest policy consistent with state and federal law. | |||
==Loans== | |||
Loans shall not be made by the Foundation to any Director. | |||
==Article 4: Officers== | ==Article 4: Officers== | ||