10/05/1992 Park Board Packet - Laserfiche WebLink

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the accommodation of any other party or parties, except upon the express direction of the Board of Directors, nor shall any check, note, bond, stock certificate, or other security or thing of value belonging to the corporation be used by any officer or director as collateral for any obligation of his own or for any purpose other than for the use of the corporation. ARTICLE 4(5) -- WAIVER OF NOTICE; ( : ) ACTION WITHOUT MEETING; ( : ) IRREGULAR MEETING. 1(A) . Waiver of Notice. (A member of the corporation or)A (a) director may execute a written waiver of any notice of any meeting required to be given by statute, by the Articles of Incor- poration, or by any provisions of these By-Laws, either before, at, or after that meeting, and any such waiver, when filed as hereinaf- ter provided, shall be equivalent to such notice. Any such waiver shall be filed with the person designated to act as secretary of that meeting who shall enter it upon the minutes or other records of that meeting. Appearance at a meeting by any (member or) direc- tor shall also be deemed a waiver of notice thereof unless the appearance is solely for the purpose of asserting the illegality of the meeting. 2(B) . Action Without Meeting. Any action by the directors (or by the members) without a meeting, which is taken or authorized in writing signed by all of the directors, (or by all of the mem- bers of the corporation, as the case may be, ) shall be valid and ,� effective, as provided in Sections 317A.237 (317 .20, Subd. 12 , and