BYLAWS OF MIDDLE SCHOOL FOOTBALL AND CHEER ASSOCIATION, INC. These Bylaws govern the affairs of MIDDLE SCHOOL FOOTBALL AND CHEER ASSOCIATION, INC. (hereinafter MSFB), a nonprofit corporation. ARTICLE 1- OFFICES Principle Office 1.01 The Corporation’s principal office in Texas will be located at 16 MT.BETHEL RD, WARREN, NJ 07059. The Corporation may have such other offices, in NJ or elsewhere, as the Board of Directors may determine. The board may change the location of any office of the Corporation. Registered Office and Registered Agent 1.02 The Corporation will maintain a registered office and registered agent in NJ. The reregistered office may, but need not, be identical with the Corporation’s principal office in NJ. The Board may change the registered office and the registered agent as permitted in the NJ Non-Profit Corporation Act. ARTICLE 2- BOARD OF DIRECTORS Management of Corporation 2.01 The Board will manage corporate affairs. Number, Qualifications, and Tenure of Directors 2.02 The number of Directors will be six. Directors must be Texas residents. Each director will serve for a term of two (2) years. The director’s terms will be staggered so that the terms of three of the directors will begin in even-numbered years; the terms of the other three, in odd-numbered years. At the initial meeting three directors by random drawing will be selected to have their term end in an odd-numbered year. Nominating Directors 2.03 At any meeting at which the election of a director is held, a director may nominate a person with the second of any other director. In addition to nominations made at meetings, a nominating committee will consider possible nominees and make nominations for each election of directors. The secretary will include the names nominated by that committee, and any report of the committee, with the notice of the meeting at which the election occurs. Electing Directors 2.04 A person who meets the qualifications for director and who has been duly nominated may be elected as a director. Directors will be elected by the vote of the board of directors of MSFB, a nonprofit corporation. Each director will hold office until a successor is elected and qualifies. A director may be elected to succeed himself or herself as director. 2 MSFB Bylaws Vacancies 2.05 The Board will fill any vacancy in the Board and any director position to be filled due to an increase in the number of directors. A vacancy is filled by the affirmative voted of a majority of the remaining directors, even if it is less than a quorum of the Board, or if it is a sole remaining director. A director selected to fill a vacancy will be serve for the unexpired term of his or her predecessor in office. Annual Meetings 2.06 The Annual meeting of the Board may be held without notice other than provided in the Bylaws. The annual Board meeting will be held the first Monday in May of each year at the corporation’s registered office in NJ or as the board may designate in its notice. Regular Meetings 2.07 The Board may provide for regular meeting by resolution stating the time and place of such meeting. The meeting may be held inside or outside NJ, and will be held at the Corporation’s registered office in NJ if the resolution does not specify the location of the meetings. No notice of regular Board meetings is require other than a Board resolution stating the time and place of the meetings. Special Meetings 2.08 Special Board meeting may be called by, or at the request of, the president or any three (3) directors. A person or person authorized to call special meeting of the Board may fix any place within NJ as the place for holding a special meeting. The person or persons calling a special meeting will inform the secretary of the corporation of the information to be included in the notice of the meeting. The secretary of the Corporation will give notice to the directors, as these Bylaws require. Notice 2.09 Written or printed notice of any special meeting of the Board will be delivered to each director no less than seven (7) days, nor more than thirty (30) days before the date of the meeting. The notice will state the place, day, and time of the meetings: who call it; and the purpose or purposes for which it is called. Quorum 2.10 A majority of the number of directors then in office constitutes a quorum of transacting business at any Board meeting. The directors present at a duly called or held meeting at which a quorum is present may continue to transact business even if enough directors leave the meeting so that less than a quorum remains. However, no action may be approved without the vote of at least a majority of the number of directors required for a quorum. If a quorum in never present at any time during a meeting, a majority of the directors present may adjourn and reconvene the meeting once without further notice. 3 MSFB Bylaws Duties of Directors 2.11 Directors will discharge their duties, including any duties as committee members, in good faith, with ordinary care, and in a manner they reasonable believe to be in the Corporation’s best interest. In this context the term “ordinary care” means the care that ordinarily prudent persons in similar positions would exercise under similar circumstances. In discharging any duty imposed or power conferred on directors, directors may, in good faith, rely on information, opinions, reports, or statements, including financial statements and other financial data, concerning the Corporation or another person that has been prepared or presented by a variety of persons, including officers and employees of the Corporation, professional advisors or experts such as accountants or legal counsel. A director is not relying in good faith if he or she has knowledge concerning a matter in question that renders reliance unwarranted. Directors are not deemed to have the duties of trustees of a trust with respect to the Corporation or with respect to any property held or administered by the Corporation, including property that may be subject to restrictions imposed by the donor or transferor of the property. Duty to Avoid Improper Distributions 2.12 Directors who vote for or assent to improper distributions are jointly and severally liable to the Corporation for the value of improperly distributed assets, to the extent that, as a result of the improper distribution or distributions, the corporation lack sufficient assets to pay its debts, obligations, and liabilities. Any distribution made when the Corporation is insolvent, is in payment of corporate debts, or any distribution that would render the Corporation in solvent, is an improper distribution. A distribution made during liquidation without payment and discharge of or provision for payment and discharge of all known debts, obligations, and liabilities is also improper. Directors present at a Board meeting at which the improper action is taken are presumed to have assented, unless they dissent in the writing. The written dissent must be filed with the secretary of the Corporation before adjournment of the meeting in question or mailed to the secretary by registered mail immediately after adjournment. A director is not liable if, in voting for or assenting to a distribution, the director (1) relies in good faith and with ordinary care on information, opinions, reports, or statements, including financial statements and other financial data, prepared or presented by one or more officers or employees of the Corporation; legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the person’s professional or expert competence; or a committee of the Board of which the director is not a member; (2) while acting in good faith and with ordinary care, considers the Corporation’s assets to be at least that of their book value; or (3) in determining whether the Corporation made adequate provision for paying, satisfying, or discharging all of its liabilities and obligations, relied who was or became contractually obligated to satisfy or discharge some of all of these liabilities or obligations,. Furthermore, directors are protected from liability if, in exercising ordinary care, they acted in good faith and in reliance on the written opinion of an attorney for the Corporation. Directors held liable for an improper distribution are entitled to contribution from persons who accepted or received the improper distributions knowing they were improper. Contribution is in proportion to the amount received by each such person. 4 MSFB Bylaws Delegating Duties 2.13 Directors may select advisors and delegate duties and responsibilities to them, such as the full power to buy or otherwise acquire stocks, bonds, securities, and other investments on the Corporation’s behalf; and to sell, transfer, or otherwise dispose of the Corporation’s assets and properties at the time and for a consideration that the advisor deems appropriate. The directors have no liability for actions taken or omitted by the advisor if the Board acts in good faith and with ordinary care in selecting the advisor, the Board may remove or replace the advisor at any time and without any cause whatsoever. Interested Directors 2.14 Contracts or transactions between directors, officers, or members who have a financial interest in the matter are not void or voidable solely for that reason. Nor are they void or voidable solely because the director, officer, or member is present at or participates in the meeting that authorizes the contract or transaction, or solely because the interested parties votes are counted for the purpose, However, every director with any personal interest in the transaction n must disclose all material facts concerning the transaction, including all potential personal benefit and potential conflict of interest, to the other members of the Board or other group authorizing the transaction. The transaction must be approved by a majority of the uninterested directors or other group with the authority to authorize the transaction. Actions of Board of Directors 2.15 The Board will try to act by consensus. However, if a consensus is not available, the vote of a majority of directors present and voting at a meeting at which a quorum is present is enough to constitute the act of the Board, unless the act of a greater number is required by law or by some other provision of the Bylaws. A director who is present at a meeting and abstains from a vote is not considered to be present and voting for the purpose of determining the Board’s decision. Proxies 2.16 A director may not vote by proxy. Compensation 2.17 Directors may not receive salaries for their services. The Board may adopt a resolution providing for paying directors a fixed sum and expenses of attendance, if any, for attending each Board meeting. A director may serve the Corporation in any other capacity and receive compensation for those services. Any compensation that the Corporation pays to the director will be reasonable and commensurate with the services performed. Removing Directors 2.18 The Board may vote to remove a director at any time, only for good cause. Good cause for removal of a director included the unexcused failure to attend three consecutive Board meetings. A meeting to consider removing a director may be called and noticed following the procedures provided in these Bylaws for a special meeting of the Board of 5 MSFB Bylaws Directors. Then notice of the meeting will state that the issue of possibly removing the director will be on the agenda. At the meeting, the director may present evidence of why he or she should not be removed and may be represented by an attorney at and before the meeting. Also, at the meeting, the Corporation will consider possible arrangements for resolving the problems that are in the mutual interest of the Corporation and the director. A director may be removed by the affirmative vote of seventy-five (75%) of the Board. ARTICLE 3- OFFICERS Officers Positions 3.01 The Corporation’s officers will be a president, vice-president, treasurer, secretary, cheerleader coordinator, fundraiser chairman, public relations coordinator, concessions manager, registrar, senior commissioner, junior commissioner, sophomore commissioner, freshman commissioner. The Board may create additional officer positions, define the authority and duties of each such position, and elect or appoint persons to fill the positions. The same person may hold any two or more offices, except for president, and secretary. Election and Term of Office 3.02 The Corporation’s officers will be elected annually by the Board at the annual Board meeting. If officers are not elected at this time, they will be elected as soon thereafter as possible. Each officer will hold office until a successor is duly selected and qualifies. An officer may be elected to succeed himself or herself in the same office. Removal 3.03 Any officer elected or appointed by the Board may be removed by the Board only with good cause. Removing an officer will be without prejudice to the officer’s contractual rights, if any. Vacancies 3.04 The Board may select a person to fill a vacancy in any office for the unexpired portion of the Officers terms. President 3.05 The president is the Corporation’s chief executive officer. He or she will supervise and control all of the Corporation’s business and affairs and will preside at all meetings of the members and of the Board. The president may execute any deed, mortgages, bonds, contracts, or other instruments that the Board authorizes to be executed. However, the president may not execute instruments on the Corporation’s behalf if this power is expressly delegated to another officer or agent of the Corporation by the Board, these 6 MSFB Bylaws Bylaws, or statute. The president will perform other duties prescribed by the Board and all duties incident to the office of president. Vice President 3.06 When the president is absent, cannot act, or refuses to act, the vice president will perform the president’s duties. When acting in the president’s place, the vice president has all the powers of—and is subject to all the restrictions on—the president. The vice president will perform other duties as assigned by the president or Board. Treasurer 3.07 The treasurer will: (a) Have charge and custody of—and be responsible for—all the Corporation’s funds and securities. (b) Receive and give receipts for moneys due and payable to the Corporation from any source. (c) Deposit all moneys in the Corporation’s name in banks, trust companies, or other depositaries as these Bylaws provide or as the Board or president directs. (d) Write checks and disburse funds to discharge the Corporation’s obligations. (e) Maintain the Corporation’s financial books and records. (f) Prepare financial reports at least annually. (g) Perform other duties as assigned by the president or the Board. (h) If the board requires, give a bond for faithfully discharging his or her duties in a sum and with surety as determined by the Board. (i) Perform all duties incident to the office of Treasurer. Secretary 3.08 The Secretary will: (a) Give all notices as provided in the bylaws or as required by law. (b) Take minutes of the meetings of the members and the Board and keep the minutes as part of the corporate records. (c) Maintain custody of the corporate records and seal. (d) Affix the corporate seal to all documents as authorized. (e) Keep a register of the mailing address of each director and officer of the Corporation. 7 MSFB Bylaws (f) Perform duties as assigned by the president or the Board. (g) Perform all duties incident to the office of secretary. Cheerleading Coordinator 3.09 The Cheerleading Coordinator will: (a) Maintain information regarding number of cheerleaders required. (b) Maintain funds and accounting thereof of cheerleader needs. (c) Provide Board with up to date cheerleading functions. (d) Perform duties as assigned by the president of the Board. (e) Perform all duties incident to the office cheerleader coordinator. Fundraiser Chairperson 3.10 The Fundraiser Chairperson will: (a) Organize events for the purpose of raising funds to be distributed as the Board see fit. (b) Perform duties as assigned by the president of the Board. (c) Perform all duties incident to the office of fundraiser chairperson. Public Relations Coordinator 3.11 The Public Relations Coordinator will: (a) Provide local media and press of what the organization is doing for the youth of WH HILLS,NJ. (b) Perform duties as assigned by the president of the Board. (c) Perform all duties incident to the office of public relations coordinator. Concessions Manager 3.14 The Concessions Manager will: (a) Calculate food requirements for the league’s home games and home tournaments. (b) Assist in the requisitioning of food items, supplies and equipment. (c) Complete concession Update Reports. (d) Assure the proper preparation of concession items. 8 MSFB Bylaws (e) Control and safeguard concession capital. (f) Perform duties as assigned by the president of the Board. (g) Perform all duties incident to the office of concessions manager. ARTICLE 4 – COMMITTEES Establishing Committees 4.01 The Board may adopt a resolution establishing one or more committees delegating specified authority to a committee, and appointing or removing members of a committee. A committee will include two or more directors and may include persons who are not directors. If the Board delegates any of its management authority to a committee, the majority of the committee will consist of directors. The Board may also delegate to the president its power to appoint and remove members of a committee that has not been delegated any management authority of the Board. The Board may establish qualifications for membership on a committee. Establishing a committee or delegating authority to it will not relieve the Board, or any individual director, of any responsibility imposed by these Bylaws or otherwise imposed by law. No committee has the authority of the Board to: (a) Amend the articles of incorporation (b) Adopt a plan of merger or of consolidation with another corporation. (c) Authorize the sale, lease, exchange, or mortgage of all or substantially all of the Corporation’s property and assets. (d) Authorize voluntary dissolution of the Corporation. (e) Revoke proceedings for voluntary dissolution of the Corporation. (f) Adopt a plan for distributing the Corporation’s assets. (g) Amend, alter, or repeal the Bylaws. (h) Elect, appoint, or remove a member of a committee or a director of officer of the Corporation. (i) Approve any transaction to which the Corporation is a party and that involves a potential conflict of interest as defined in paragraph 5.04 below. (j) Take any action outside the scope of authority delegated to it by the Board. Term of Office 4.02 Each committee member will continue to serve on the committee for one (1) year. However, a committee member’s term may terminate earlier if the committee is terminated or if the member dies, ceases to qualify, resigns, or is removed as a member. 9 MSFB Bylaws A vacancy on a committee may be filled by an appointment made in the same manner as an original appointment. A person appointed to fill a vacancy on a committee will serve for the unexpired portion of the terminated committee member’s term. Chair and Vice-Chair 4.03 One member of each committee will be designated as the committee chair, and another member of each committee will be designated as vice-char. The president will appoint the chair and vice-chair. The chair will call and preside at all meetings of the committee. When the chair is absent, cannot, act, or refuses to act, the vice-chair will perform the chair’s duties. When a vice-chair act for the chair, the vice-chair has all the powers of— and is subject on—the chair. Notice of Meetings 4.04 Written or printed notice of a committee meeting will be delivered to each member of a committee not less than seven (7) days or more than thirty (30) days before the date of the meeting. The notice will state the place, day, and time of the meeting, and the purpose or purposes for which it is called. Quorum 4.05 One-half of the number of committee members constitutes a quorum for transacting business at any meeting of the committee. The committee members present at a duly called or held meeting at which a quorum is present may continue to transact business even if enough committee members leave the meeting so that less than a quorum remains. However, no action may be approved without the vote of at least a majority of the number of committee members required for a quorum. If a quorum is never present at any time during a meeting, the chair may adjourn and reconvene the meeting once without further notice. Actions of Committees 4.06 Committee will try to take action by consensus. However, if a consensus is not available, the vote of a majority of committee members present and voting at a meeting at which a quorum is present is enough to constitute the act of the committee unless the act of a greater number is required by statute or by some other provision of these Bylaws. A committee member who is present at a meeting and abstains from a vote is not considered to be present and voting for the purpose of determining the act of the committee. Proxies 4.07 A committee member many not vote by proxy. Compensation 4.08 Committee members may not receive salaries for their services. A committee member may serve the Corporation in any other capacity and receive compensation for those services. Any compensation that the Corporation pays to a committee member will be reasonable and commensurate with the services performed. 10 MSFB Bylaws Rules 4.09 Each committee may adopt its own rules, consistent with these Bylaws or with other rules that may be adopted by the Board. ARTICLE 5 – TRANSACTIONS OF CORPORATION Contacts 5.01 The Board may authorize any officer or agent of the Corporation to enter into a contract or execute and deliver any instrument in the name of, and on behalf of, the Corporation. This authority may be limited to a specific contract or instrument, or it may extend to any number and type of possible contracts and instruments. Deposits 5.02 All the Corporation’s funds will be deposited to the credit of the Corporation in banks, trust companies, or other depositaries that the Board selects. Gifts 5.03 The board may accept, on the Corporation’s behalf, any contribution, gift, bequest, or devise for the general purposes or for any special purpose of the Corporation. The Board may make gifts and give charitable contributions not prohibited by these Bylaws, the articles of incorporation, state law, and provisions set out in federal tax law that must be complied with to maintain the Corporation’s federal and state tax status. Potential Conflicts of Interest 5.04 The Corporation may not make any loan to a director or officer of the Corporation. A director, officer, or committee member of the Corporation may lend money to—and otherwise transact business with—the Corporation except as otherwise provided by these Bylaws, the articles of incorporation, and applicable law. Such a person transacting business with the Corporation has the same rights and obligations relating to those matters as other persons transacting business with the Corporation. The Corporation may not borrow money from—or otherwise transact business with—a director, officer, or committee member of the Corporation unless the transaction is described fully in a legally binding instrument and is in the Corporation’s best interest. The Corporation may not borrow money from—or otherwise transact business with—a director, officer, or committee member of the Corporation without full disclosure of all relevant facts and without the Board’s approval, not including the vote of any person having a personal interest in the transaction. Prohibited Acts 5.05 As long as the Corporation exist, and except with the Board’s prior approval, no director, officer, or committee member of the Corporation may: (a) Do any act in violation of these Bylaws or a binding obligation of the Corporation. (b) Do any act with the intention of harming the Corporation or any of its operations. 11 MSFB Bylaws (c) Do any act that would make it impossible or unnecessarily difficult to carry on the Corporation’s intended or ordinary business. (d) Receive an improper personal benefit from the operation of the Corporation. (e) Use the Corporation’s assets, directly or indirectly, for any purpose other than carrying on the Corporation’s business. (f) Wrongfully transfer or dispose of Corporation property, including intangible property such as good will. (g) Use the Corporation’s name (or any substantially similar name) or any trademark or trade name adopted by the Corporation, except on behalf of the Corporation in the ordinary course of its business. (h) Disclose any of the Corporation’s business practices, trade secrets, or any other information not generally known to the business community to any person not authorized to receive it. (i) An individual who is relative to a current board member shall not be selected for or assigned to any other board position. This provision does not apply to league coaches and volunteer positions. Exceptions: If there are no qualified eligible applicants for a position, consideration may be given to a qualified applicant whose selection would result in nepotism violation. However, selected applicant can only hold their position for one term or unless nepotism violation status is no longer in violation. ARTICLE 6 – BOOKS AND RECORDS Required Books and Records 6.01 The Corporation will keep correct and complete books and records of account. The books and records include: (a) A filed-endorsed copy of all documents filed with the NJ Secretary of State relating to the Corporation, including but not limited to the articles of incorporation, and any articles of amendment, restated articles, articles of merger, articles of consolidation, and statement of change of registered office or registered agent. (b) A copy of all by laws, including these Bylaws, and any amended versions or amendments to them. (c) Minutes of the proceedings of the Board, and committees having any of the authority of the Board. (d) A list of the names and addresses of the directors, officers, and any committee members of the Corporation. (e) A financial statement showing the Corporation’s assets, liabilities, and net worth at the end of the three most recent fiscal years. 12 MSFB Bylaws (f) A financial statement showing the Corporation’s income and expenses for the three most recent fiscal years. (g) All rulings, letters and other documents relating to the Corporation’s federal, state, and local tax status. (h) The Corporation’s federal, state, and local tax information or income tax returns for each of the Corporation’s three most recent tax years. Inspection and Copying 6.02 Any director, officer, or committee member of the Corporation may inspect and receive copies of all the corporate books and records required to be kept in the bylaws. Such a person may, by written request, inspect or receive copies if he or she has a proper purpose related to his or her interest in the Corporation. He or she may do so through his or her attorney or other duly authorized representative. The inspection may take place at a reasonable time, no later than five working days after the Corporation receives a proper written request. The Board may establish reasonable copying fees, which may convert the cost of materials and labor but may not exceed twenty cents per page. The Corporation will provide requested copies of books or records no later than five workings day after receiving a proper written request. ARTICLE 7 – FISCAL YEAR The Corporation’s fiscal year of the Corporation will begin on the first day of January and end on the last day in December in each year. ARTICLE 8 – INDEMNIFICATION When Indemnification Is Required, Permitted, and Prohibited 8.01 (a) The Corporation will indemnify a director, officer, member, committee member, employee, or agent of the Corporation who was, is, or may be named defendant or respondent in any proceeding as a result of his or her actions or omissions within the scope of his or her official capacity in the Corporation. For the purposes of this article, an agent includes one who is or was serving at the Corporation’s request as a director, officer, partner, venturer, proprietor, trustee, partnership, joint venture, sole proprietorship, trust, employee-benefit plan or other enterprise. (b) The Corporation will indemnify a person only if he or she acted in good faith and reasonably believed that his or her conduct was in the Corporation’s best interest. In case of a criminal proceeding, the person may be indemnified only if he or she had no reasonable cause to believe that the conduct was unlawful. The Corporation will not indemnify a person who is found liable to the Corporation or is found liable to another on the basis of improperly receiving a personal benefit from the Corporation. A person is conclusively considered to have a been found liable in relation to any claim, issue, or matter if the person has been adjudged liable by a court of competent jurisdiction and all appeals have been exhausted. Termination of a proceeding by judgment, order, settlement, conviction, or on a plea of nolo contender or its equivalent does not necessarily preclude indemnification by the Corporation. 13 MSFB Bylaws (c) The Corporation will pay or reimburse expense incurred by a director, officer, committee member, employee, or agent of the Corporation in connection with the person’s appearance as a witness or other participation in a proceeding involving or affecting the Corporation when the person is not a named defendant or respondent in the proceeding. (d) In addition to the situations otherwise described in this paragraph, the Corporation may indemnify a director, officer, committee member, employee, or agent of the Corporation to the extent permitted by law. However, the Corporation will not indemnify any person in any situation in which indemnification is prohibited by paragraph 5.05(a), above. (e) The Corporation may advance expenses incurred or to be incurred in the defense of a proceeding to a person who might be eventually be entitled to indemnification, even though, there has been no final disposition of the proceeding. Advancement of expenses may occur only when the procedural conditions specified in paragraph 8.03(c), below, have been satisfied. Furthermore, the Corporation will never advance expenses to a person before final disposition of a proceeding if the person is a named defendant or respondent in an proceeding brought by the Corporation or if the person is a named defendant or respondent in an proceeding brought by the Corporation or if the person is alleged to have improperly received a personal benefit or committed other willful or intentional misconduct. Extent and Nature of Indemnity 8.02 The indemnity permitted under these Bylaws includes indemnity against judgments, penalties, (including excise and similar taxes), fines, settlements, and reasonable expenses (including attorney’s fees) actually incurred in connection with the proceeding. If the proceeding was brought by or on behalf of the Corporation, the indemnification is limited to reasonable expenses actually incurred by the person in connection with the proceeding. Procedures Relating to Indemnification Payments 8.03 (a) Before the Corporation may pay any indemnification expenses (including attorney’s fees), the Corporation must specifically determine that indemnification is permissible, authorize indemnification, and determine that expenses to be reimbursed are reasonable, except as provided in subparagraph (c), below. The Corporation may make these determinations and decisions by any one of the following procedures: i. Majority vote of a quorum consisting of directors who, at the time of the vote, are not named defendants or respondents in the proceeding. ii. If such a quorum cannot be obtained, by a majority vote of a committee of the Board, designated to act in the matter by a majority of all directors, consisting solely of two or more directors who at the time of the vote are not named defendants or respondents in the proceeding 14 MSFB Bylaws iii. Determination by special legal counsel selected by the Board by the Same vote as provided in sub-subparagraphs (i) and (ii), above, or if such a quorum cannot be obtained and such a committee cannot be established, by a majority vote of all directors. (b) The Corporation will authorize indemnification and determine that expenses to be reimbursed are reasonable in the same manner that it determines whether indemnification is permissible. If special legal counsel determines that indemnification is permissible, authorization of indemnification and determination of reasonableness of expenses will be made as specified by subparagraph (a)(iii), above, governing selection of special legal counsel. A provision contained in the articles of incorporation, or a resolution of members or the Board that requires the indemnification permitted by paragraph 10.01, above, constitutes sufficient authorization of indemnification even though the provision may not have been adopted or authorized in the same manner as the determination that indemnification is permissible. (c) The Corporation authorization of payment will be made in the same manner as a determination that indemnification is permissible under subparagraph (a), above. In addition to this determination, the Corporation may advance expenses only after it receives a written affirmation and undertaking from the person to receive the advance. The person’s written affirmation will state that he or she has met the standard of conduct necessary for indemnification under these Bylaws. The written undertaking will provide for repayment of the amounts advanced by the Corporation if it is ultimately determined that the person has not met the requirements for indemnification. The undertaking will be an unlimited general obligation of the person, but it need not be secured and may be accepted without reference to financial ability to repay. ARTICLE 9 – NOTICES Notice by Mail or Telegram 9.01 Any notice required or permitted by these Bylaws to be given to a director, officer, or member of a committee of the Corporation may be given by mail or telegram. If mailed, a notice is deemed delivered when deposited in the mail addressed to the person at this or her address as it appears on the corporate records, with postage prepaid. If given by telegram, a notice is deemed delivered when accepted by the telegraph company and addressed to the person at his or her address as it appears on the corporate records. A person may change his or her address in the corporate records by giving written notice of the change to the secretary of the corporation. Signed Waiver of Notice 9.02 Whenever any notice is required by law or under the articles of incorporation or these Bylaws, a written waiver signed by the person entitled to receive such notice is considered the equivalent to giving the required notice. A waiver of notice is effective whether signed before or after the time stated in the notice being waived. 15 MSFB Bylaws Waiving Notice by Attendance 9.03 A person’s attendance at a meeting constitutes waiver of notice of the meeting unless the person attends for the express purpose of objecting to the transaction of any business because the meeting was not lawfully called or convened. ARTICLE 10 – SPECIAL PROCEDURES CONCERNING MEETINGS Meeting by Telephone 10.01 The Board of Directors and any committee of the Corporation may hold a meeting by telephone conference-call procedures. In all meetings held by telephone, matters must be arranged in such a manner that all persons participating in the meeting can hear each other; the notice of a meeting by telephone conference must state the fact that the meeting will be held by telephone as well as all other matters required to be included in the notice; and a person’s participating in a conference-call meeting constitutes his or her presence at the meeting. Decision without Meeting 10.02 Any decision required or permitted to be made at a meeting of the Board, or any committee of the Corporation may be made without a meeting. A decision without a meeting may be made if a written consent to the decision is signed by all the persons entitled to vote on the matter. The original signed consents will be placed in the Corporation minute book and kept with the corporate records. Furthermore, in accordance with the articles of incorporation, action may be taken without a meeting when there are signed written consents by the number of members, directors, or committee members, whose votes would be necessary to take action at a meeting at which all such persons entitled to vote were present and voted. Each written consent must be signed and bear the date of signature of the person signing it. A telegram, telex, cablegram, or similar transmission by a member, director, or committee member, or a photographic, facsimile, or similar reproduction of a signed writing, will be treated as a n original being signed by the member, director, or committee member. Consents must be delivered to the Corporation. A consent signed by fewer than all members, directors, or committee members is not effective to take the intended action unless the required number of consents are delivered to the Corporation within 60 days after the date that the earliest-dated consent was delivered to the Corporation. Delivery must be made by hand, or by certified or registered mail, return receipt requested. The delivery may be made to the Corporation’s registered office, registered agent, principal place of business, transfer agent, registrar, exchange agent, or an officer or agent having custody, of books in which the relevant proceedings are recorded. If the delivery is made to the Corporation’s principle place of business, the consent must be addressed to the president or principal executive officer. The Corporation will give prompt notice of the action taken to persons who do not sign the consents. If the action taken requires documents to be filed with the secretary of state, the filed documents will indicate that these written consent procedures were followed to authorize the action and filing. 16 MSFB Bylaws ARTICLE 11 – AMENDING BYLAWS These Bylaws may be altered, amended, or repealed and new bylaw may be adopted by the Board of Directors. The notice of any meeting at which these Bylaws are altered, amended, or repealed, or at which new bylaws are adopted will include the text of the proposed bylaw provisions as well as the text of any existing provision proposed to be altered, amended, or repealed, Alternatively, the notice may include a fair summary of these provisions. ARTICLE 12 – MISCELLANEOUS PROVISIONS Legal Authorities Governing Construction of Bylaws 12.01 These Bylaw will be construed under NJ law. All references in these Bylaws to statutes, regulation, or other sources of legal authority will refer to the authorities cited, or their successors, as they may be amended from time to time. Legal Construction 12.02 To the greatest extent possible, these Bylaws shall be construed to conform to all legal requirements and all requirements for obtaining and maintaining all tax exemptions that may be available to nonprofit corporations. If any bylaw provision is held invalid, illegal, or unenforceable in any respect, the invalidity, illegality, or unenforceable will not affect any other provision, and the bylaws will be construed as if they had not included the invalid, illegal, or unenforceable provision. Headings 12.03 The headings used in the bylaws are for convenience and may not be considered in construing the bylaws. Number 12.04 All singular words include the plural, and all plural words include the singular. Seal 12.05 The Board of Directors may provide for a corporate seal. Such a seal would consist of two concentric circles containing the words “MSFB”, “NJ” in one circle and the word “Incorporated” together with the date of incorporation in the other circle. Power of Attorney 12.06 A person may execute any instrument related to the Corporation by means of a power of attorney if an original executed copy of the power of attorney is provided to the secretary to be kept with the corporate records. Parties Bound 12.07 The bylaws will bind and inure to the benefit of the directors, officers, committee members, employees, and agents of the Corporation and their respective heirs, executors, 17 MSFB Bylaws administrators, legal representatives, successors, and assigns except as the bylaws otherwise provide. CERTIFICATE OF SECRETARY I certify that I am the duly elected and acting secretary for MSFB and that these Bylaws constitute the Corporation’s Bylaws. These Bylaws were duly amended and adopted at a meeting of the Board of Directors held on held on FEB 22, 2017.
Dated: FEB 22, 2017 By: MARK CLAXTON - CO-PRESIDENT