
ARTICLE I
Office
The principal office of the Corporation shall be in the metropolitan area of Baltimore, Maryland. The Corporation may also have an office or offices in such other place or places as the business of the Corporation may require and the Board of Directors may from time to time appoint.
Annual Meeting. The annual meeting of the members of the
Corporation shall be held on a day duly designated by the Board of Directors in
May, and in no event later than the last day of June, for t he purpose of
electing directors to succeed those whose terms shall have expired as of the
date of such annual meeting, and for the transaction of such other corporate
business as may come before the meeting.
Special Meetings. Special meetings of the members may be called
at any time for any purpose or purposes by the President, by a Vice President,
or by a majority of the Board of Directors, and shall be called forthwith by the
President, by a Vice President, or by any director of the Corporation upon the
request in writing of a majority of all the members entitled to vote on the
business to be transacted at such meeting. Such request shall state the purpose
or purposes of the meeting. Business transacted at all special meetings of the
members shall be confined to the purpose or purposes stated in the notice of the
meeting.
Place of Meetings. All meetings of members shall be held at the principal
office of the Corporation or elsewhere in the United States as designated by the
Board of Directors.
Notice of Meetings. Notice of each meeting shall be given to the members
by sending such notice, via electronic mail (“e-mail’) to each member at the
e-mail address of record, or in the case of any member who does not have an
e-mail address on record with the Corporation, by first-class mail, postage
prepaid, to that member’s address of record, at least two (2) weeks prior to
the date of the meeting. Such notice shall include a description of the purpose
of the meeting, and in the event that any election of Director(s) shall be
scheduled to take place at such meeting, shall include the name(s ) of the
person(s) nominated for election and a statement of the position for which each
such person has been nominated.
Quorum. The presence in person or b/y proxy of ten five percent of the
members of the Corporation who have attained the age of nineteen (19) as of the
date of said meeting shall constitute a quorum at all meetings of the members,
except as otherwise provided by law, by the articles of Incorporation, or by
these By-Laws. If less than a quorum shall be in attendance at the time for
which the meeting shall have been called, the meeting may be adjourned from time
to time by a majority vote of the members present or represented, without notice
other than by announcement at the meeting, until a quorum shall attend. At any
adjourned meeting at which a quorum shall attend, any business may be transacted
which might have been transacted if the meeting had been held as if originally
called.
Conduct of Meetings. Meetings of members shall be presided over by the
President of the Corporation, or, if (s)he is not present, by a Vice-President,
or if none of said officers is present, by a chairman to be elected at the
meeting. The secretary of the Corporation, or if (s)he is not present, any
Assistant Secretary, shall act as secretary of such meetings; in the absence of
the Secretary and any Assistant Secretary, the presiding officer may appoint a
person to act as secretary of the meeting.
Voting. At all meeting of members, every member entitled to vote
otherwise in good standing and having attained the age of nineteen (19) as of
the date of said meeting thereat shall have one (1) vote. Such vote may be
either in person or by proxy appointed by e-mail sent to the Corporation at its
e-mail address within twenty four (24) hours of the time of the meeting, or by
an instrument in writing subscribed by such member or his duly authorized
attorney and witnessed by any other person who has attained the age of nineteen
(19), bearing a date delivered to the Corporation or any officer or director
thereof in person or by certified mail, return receipt requested not more than
three (3) months ten (10) days prior to said meeting. All elections shall be had
and all questions shall be decided by a majority of the votes cast at a duly
constituted meeting, except as otherwise provided by law, in the articles of
Incorporation, or by these By-Laws.
Ballot. If the chairman of the meeting shall so determine, a vote by
ballot may be taken upon the request of ten percent (10%) or more of the members
entitled to vote on such election or matter. In either of such events, the
proxies and ballots shall be received and taken in charge and all questions
touching the qualification of voters, the validity of proxies, and the
acceptance or rejection of votes, shall be decided by the tellers. Such tellers
shall be appointed by the chairman of said meeting.
Identity of Members. The members of the Corporation shall be composed of
those persons or organizations who shall have paid any and all annual dues, and
are in compliance with any and all other requirements for membership imposed by
the Board of Directors.
ARTICLE III
Board of Directors
General Powers. The property and business of the Corporation shall be
managed under the direction of the Board of Directors of the Corporation.
Number and Term of Office. The number of directors shall be nine (9) or
suc h other number, but not less than three (3) nor more than nine (9), as may
be designated from time to time by resolution of the majority of the entire
Board of Directors. Directors shall be members and shall have attained the age
of eighteen (18) as of the date of his election. The Each directors shall serve
for a period of one (1) five (5) years, or until the end of the term the
completion of which he was appointed to fill pursuant to the terms of Article
III, paragraph 4 of these By-Laws.
Nomination and Election. At least thirty (30) fourteen (14) days prior to
the annual meeting of the members of the Corporation, the Nominating Committee
Board of Directors shall decide upon a slate of directors, and shall present
such slate to the Board of Directors of the Corporation not less than twenty
(20) days prior to said annual meeting. Upon written request of at least one of
the members of the Corporation, made to a member of the Nominating Committee not
less than ten (10) seven (7) days prior to said annual meeting, designating an
additional slate or slates to the Board of Directors of the Corporation.
Immediately thereafter, the Secretary shall apprise the members of the
Corporation of said slate or slates. The Nominating Committee 1 Board of
Directors shall thereafter present the said slate or slates of nominees to the
members of the Corporation for election at the annual meeting.
Filling of Vacancies. In the case of any vacancy in the Board of
Directors through death, resignation, disqualification, removal or other cause,
the remaining directors, by affirmative vote of the majority thereof, may elect
a successor to hold office for the unexpired portion of the term of the director
whose place shall be vacant, and until the election of his successor, or until
he shall be removed, prior thereto. Similarly, in the event of the number of
directors being increase as provided in these By-Laws, the additional directors
so provided for shall be elected by a majority of the Board of Directors already
in office, and shall hold office until the next annual meeting of the members.
Any director may be removed from office with or without cause by the affirmative
vote of a majority of the members entitled to vote at a special meeting of the
members regularly called for the purpose.
Place of Meeting. The Board of Directors may hold their meetings and have
one or more offices, and keep the books of the Corporation, either within or
outside the State of Maryland, at such place or places as they from time to time
determine by resolution of all the directors. The Board of Directors may hold
their meeting by conference telephone or other similar electronic communications
equipment in accordance with the provisions of the Maryland corporation law.
Regular Meetings. Regular meetings of the Board of Directors may be held
without notice at such time and place as from time to time be determined by
resolution of the Board, provided that notice of every resolution of the Board
fixing or changing the time or place for the holding of regular meetings of the
Board shall be mailed to each director at least three (3) days prior to the
first meeting held pursuant thereto. The annual meeting of the Board of
Directors shall be held immediately following the annual meeting of the members
at which a Board of Directors is elected. Any business may be transacted at any
regular meeting of the Board.
Special Meetings. Special meetings of the Board of Directors shall be
held whenever called by any member of the Board of Directors. The Secretary
shall give notice of each special meeting of the Board of Directors, by mailing
the same at least three (3) days prior to the meeting to each director. Unless
otherwise indicated in the notice thereof, any and all business may be
transacted at any special meeting. At any meeting at which every director shall
be present, even though without notice, any business may be transacted and any
director may in writing waive notice of the time, place, and objectives of any
special meeting.
Quorum. A majority of the whole Board shall constitute a quorum for the
transaction of business at all meetings of the Board of Directors, but, if at
any meeting less than a quorum shall be present, a majority of those present may
adjourn the meeting from time to time, and the act of a majority of the
directors at any meeting at which there is a quorum shall be the act of the
Board of Director, except as may be otherwise specifically provided by law or by
the Articles of Incorporation or by these By-Laws.
Required Vote. An affirmative vote of a majority of those present shall
be necessary for the passage of any resolution.
Compensation of Directors. Directors shall not receive any stated salary
for their services as such, but this section shall not be construed to preclude
any director from serving the Corporation in any other capacity and receiving
compensation therefore.
Committees. The Board of Directors may, by resolution passed by a
majority of the whole Board, designate one or more committees, each committee to
consist of one or more directors, and, if provided by the resolution, one or
more members, which committee, to the extent provided in the resolution, shall
have and may exercise the powers of the Board of Directors. Such committee or
committees shall have such names as may be determined from time to time by
resolution adopted by the Board.
Definitions. As used in this Article VI, any word or
words that are defined in Section 2-418 of the Corporations and Associations
Article of the Annotated Code of Maryland, as amended from time to time, (“the
Indemnification Section”) shall have the same meaning as provided in the
Indemnification Section.
Indemnification of Directors and Officers. The Corporation shall
indemnify and advance expenses to a director or officer of the corporation in
connection with a proceeding to the fullest extent permitted by and in
accordance with the Indemnification Section.
Indemnification of Employees and Agents. With respect to an employee or
agent, other than a director or officer, of the Corporation, the Corporation
may, as determined by the Board of Directors of the Corporation, indemnify and
advance expenses to such employee or agent in connection with a proceeding to
the extent permitted by and in accordance with the Indemnification Section.
Fiscal Year. The fiscal year of the Corporation shall end
on the last day of May.
Notices. Whenever, under the provisions of these By-Laws, notice is
required to be given to any director, officer, or member it shall not be
construed to mean personal notice, but such notice shall be given in writing, by
mail, by depositing the same in a post office or letter box, in a postpaid
sealed wrapper, addressed to each member, officer, or director at such address
as appears on the books of the Corporation, or in default of any such address,
to such director, officer or member at the general post office in the City of
Baltimore, Maryland, and such notice shall be deemed to be given at the time
same shall be thus mailed. by sending such notice, via electronic mail
(“e-mail’) to the e-mail address of record. In the event that any member
does not have an e-mail address on record with the Corporation, notice shall be
sent by first class mail, postage prepaid, to the member’s address of record.
Any member, director, or officer may waive any notice required to be given under
these By-Laws by notifying the Secretary of such waiver in writing or by e-mail
to the e-mail address of the Corporation.
Amendment of By-Laws. The Board of Directors shall have the power and
authority to amen, alter, or repeal these By-Laws or any provision thereof, and
may from time to time make additional By-Laws.
| As Amended 4/9/02 |