Laserfiche WebLink
Section 8. Prohibition Against Sharing in Corporate <br />Earnings. No member, director, officer, or employee of, or <br />person connected with'the Corporation, or any other private <br />individual shall receive, at any time, any of the net earnings <br />or pecuniary profit from the operations of the Corporation; <br />provided, however, that this shall not prevent the payment to <br />any such person of such reasonable compensation as shall be <br />fixed by the Board of Directors for services rendered to, for, <br />or on behalf of the Corporation in effecting any of its <br />purposes as shall be fixed by the Board of Directors; and no <br />such person or persons shall be entitled to share in the <br />distribution of any of the corporate assets upon the <br />dissolution of the Corporation. All members of the Corporation <br />shall be deemed to have expressly consented and agreed that <br />upon such dissolution or winding up of the affairs of the <br />Corporation, whether voluntary or involuntary, the assets of <br />the Corporation, then remaining in the hands of the Board of <br />Directors after all debts have been satisfied, shall be <br />distributed in accordance with the Articles of Incorporation of <br />this Corporation. <br />ARTICLE VI <br />AMENDMENTS <br />Except as otherwise provided by the Articles of <br />Incorporation or the By -Laws, new By -Laws may be adopted or <br />these By -Laws may be amended or repealed by the vote of <br />two- thirds of a quorum of the members of the Board of Directors <br />present at any valid meeting of the Board, except that so long <br />-14- <br />