2023.02.06 Packet - Laserfiche WebLink

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Section 7.6 A summary report of the financial operation of the Corporation shall be made by the Treasurer at least annually to the Board. Section 7.7 The fiscal year shall be the calendar year. Section 7.8 All financial records of the Corporation are public information and shall be made available to Board members and the public upon written request to the Treasurer. ARTICLE VIII INDEMNIFICATION To the full extent permitted by the Minnesota Nonprofit Corporation Act, as amended from time to time, or by other provisions of law, each person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, wherever and by whomever brought, including any such proceeding, by or in the right of the Corporation, whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was a Board member or Executive Board member of the Corporation, or he or she is or was serving at the specific request of the Board of the Corporation as a Board member, Executive Board member, employee, or agent of another corporation, partnership, joint venture, trust or other enterprise, shall be indemnified by the Corporation by the affirmative vote of a majority of the directors present at a duly held meeting of the Board for which notice stating such purpose has been given against expenses, including attorneys’ fees, judgments, fines, and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding; provided, however, that the indemnification with respect to a person who is or was serving as a Board member, Executive Board member, employee or agent of another corporation, partnership, joint venture, trust or other enterprise shall apply only to the extent such person is not identified by such other corporation, partnership, joint venture, trust or other enterprise. The indemnification provided by this Article shall inure to the benefit of the heirs, executors and administrators of such person and shall apply whether or not the claim against such person arises out of matters occurring before the adoption of this provision of the Bylaws. ARTICLE IX AMENDMENT OF BYLAWS The Board may from time to time adopt, amend or repeal all or any of the Bylaws of this Corporation by a two-thirds majority vote of the Board. Proposed amendments must be submitted to the Secretary to be sent out with regular Board announcements. Certification These Bylaws were approved at a meeting of the Board by a two-thirds (2/3) majority vote on the [INSERT DAY] day of [INSERT MONTH] [INSERT YEAR]. ____________________________________ [INSERT NAME], SECRETARY