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The board of directors can have up to 40 members who do not need to be residents of Illinois. A majority of board members present can elect new directors or fill vacancies. Directors normally serve staggered three-year terms and can be re-elected, but must wait one year after two consecutive terms before being eligible again. If a director is serving as board chair, vice chair, or as the corporation's designee on another board, their term is automatically extended until completing that role, during which time they are an ex-officio member.

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40 views2 pages

Ing Esp

The board of directors can have up to 40 members who do not need to be residents of Illinois. A majority of board members present can elect new directors or fill vacancies. Directors normally serve staggered three-year terms and can be re-elected, but must wait one year after two consecutive terms before being eligible again. If a director is serving as board chair, vice chair, or as the corporation's designee on another board, their term is automatically extended until completing that role, during which time they are an ex-officio member.

Uploaded by

lotraducido
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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BOARD OF DIRECTORS A. Number, Selection and Term of Office A.

The authorized number of directors of the Corporation, exclusive of exofficio directors and Directors Emeritus, shall be up to 40. Directors need not be residents of the State of Illinois. B. A majority of the members of the Board acting at a meeting at which a quorum is present shall elect new members or fill vacancies. C. Except as set forth herein, directors shall serve staggered terms of three years and shall be eligible for re-election to additional terms. After a director has served two consecutive terms, at least one year must pass before that director is again eligible for membership on the Board. The Chair will assign directors to a class that best approximates three years of service. If a director is serving as, or is asked and agrees to serve as

ARTCULO IV - JUNTA DIRECTIVA Seccin A. Nmero, seleccin, y duracin del mandato (1) El nmero autorizado de directores de la Corporacin, excluyendo a directores y ex directores Emritos en calidad de ex officio, ser de mximo 40. Los directores no necesitan ser residentes del Estado de Illinois. (2) La mayora de los miembros de la Junta asistentes a una reunin en la que haya qurum, deber elegir a los nuevos miembros y llenar vacantes. (3) Salvo lo dispuesto en el presente documento, los directores debern servir por perodos escalonados de tres aos y podrn optar a la reeleccin para perodos adicionales. Despus de que un director ha cumplido dos mandatos consecutivos, por lo menos un ao debe pasar antes de que pueda volver a presentar su candidatura para formar parte de la Junta. El Presidente asignar a los directores a una clase que mejor se aproxima a tres aos de servicio. Si un director se desempea como, o es solicitado y acepta servir como Presidente o Vicepresidente de la Junta Directiva de la Corporacin o de la filial de entera

Chair or Vice Chair of the Corporations Board or of the Corporations wholly-owned subsidiary, Opportunity Transformational Investments (OTI), or as one of the Corporations designees on the board of directors of the Opportunity Network at the time he or she would otherwise be required to go off the Corporations Board, his or her term as a director of the Corporation shall automatically be extended until completion of his or her term as an officer of the Corporations Board or of OTI or as a member of the Network Board, during which time he or she shall be considered an exofficio member of the Board.

propiedad de la Corporacin, Opportunity Transformational Investments ("OTI"), o como uno de los designados por la Corporacin ante la Junta Directiva de Opportunity Network en el momento que l o ella de otro modo estara obligado a irse de la Junta Directiva de la Corporacin, su mandato como director de la Corporacin se prorrogar automticamente hasta la finalizacin de su mandato como miembro de la Junta Directiva de la Corporacin o de la OTI o como miembro de la Junta Directiva de Opportunity Network, tiempo durante el cual l o ella ser considerado un miembro exofficio de la Junta Directiva.

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