- 10 -
hold office, have and exercise collectively the
exclusive management and control of the Company
property and business affairs.
* * * * * * *
PROVIDED FURTHER, that in the event of death, removal
from office, or resignation, the Directors shall
appoint or elect a successor by the unanimous
concurrence of the remaining Directors. Should the
entire Board of Directors become vacant, persons named
in the minutes of The Adorno Asset Management Company
as successor Director(s) are hereby appointed to that
position, otherwise a Court of Equity may appoint one
Director, who, in turn, shall appoint the additional
Directors. * * *
The signing and acknowledging of this Agreement by the
hereinabove appointed Director, or the signing and
acknowledging of appropriate Minutes by Directors
subsequently elected or appointed, shall constitute
their acceptance of The Adorno Asset Management Company
and the Company property * * *
* * * * * * *
POWERS OF DIRECTORS: Directors may do anything any
individual may legally do in any state or country,
subject to the restrictions herein noted. They shall
continue in business, conserve the property,
commercialize the resources, extend any established
line of business in industry or investment, as herein
especially noted, at their discretion, for the benefit
of The Adorno Asset Management Company, such as viz:
buy, sell, or lease real estate for the surface or
mineral rights, buy or sell mortgages, securities,
bonds, notes, leases of all kinds, contracts or credits
of any form, patents, trademarks, or copyrights buy,
sell, or conduct mail-order business, or branches
thereof, operate stores, shops, factories, warehouses
or other trading establishments or places of business
of any kind, construct, buy, sell, lease, or rent
suitable buildings or other places of business,
advertise different articles or business projects,
borrow money for any business project, pledging the
Company property for the payment thereof, hypothecate
assets, property, or both, of the Company in business
projects, own stock in, or entire charters of
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Next
Last modified: May 25, 2011