02-15-2018, 04:19 PM
I think Tom may be upset with my shorthand !
Here is the bylaw that applies to what happened. Mermaid is quoting the wrong bylaw.
ARTICLE VIII – BOARD OF DIRECTORS....
Section 7. Removal....
Section 7. Removal. Any officer, director, or agent elected or appointed may be removed by the persons authorized to elect or
appoint the officer, director, or agent with or without cause. The removal of a director shall be without prejudice to the contract
rights, if any, of the director so removed. Election or appointment of a director shall not of itself create contract rights.
Here is the bylaw that applies to what happened. Mermaid is quoting the wrong bylaw.
ARTICLE VIII – BOARD OF DIRECTORS....
Section 7. Removal....
Section 7. Removal. Any officer, director, or agent elected or appointed may be removed by the persons authorized to elect or
appoint the officer, director, or agent with or without cause. The removal of a director shall be without prejudice to the contract
rights, if any, of the director so removed. Election or appointment of a director shall not of itself create contract rights.

