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Caption: Board of Trustees Minutes - 1936
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1935] UNIVERSITY OF ILLINOIS 443 d. To act as the business agent of the Board of Trustees of the University of Illinois in performing any other services for the Board of Trustees, not herein specifically mentioned, if said Board of Trustees so desires and so specifies, and said services properly come within the scope of the Foundation. e. To do such other acts and undertake such other enterprises as in the judgment of the Board of Directors shall tend to promote the interests and welfare of the University of Illinois. ARTICLE II BOARD OF DIRECTORS SECTION I. Number. T h e Board of Directors shall consist of twelve members to be selected as provided in this article. SECTION 2. Eligibility and Election. The president of the University, the president of the Board of Trustees of the University, and the president of the Alumni Association of the University, shall be ex-ofncio members of the Board of Directors of the Foundation; three more directors shall be chosen from the membership of the Board of Trustees of the University of Illinois by the Executive Committee of the general Alumni Association; and the remaining six directors, at least five of whom must be members of the general Alumni Association of the University, shall be elected by the Executive Committee of the general Alumni Association. SECTION 3. Terms of Office. The elected directors shall serve for a period of three years and their terms shall be so arranged that the term of one director elected from the Board of Trustees of the University of Illinois and the terms of two other elected directors shall expire each year. They shall be eligible for reelection. All directors shall assume office at the first annual meeting of the Foundation following their election. T h e directors elected at the beginning of this organization shall themselves determine by lot at their first meeting, their terms of service. SECTION 4. Powers and Duties. T h e Board of Directors shall exercise all the powers of the corporation, except as otherwise delegated by this constitution or the by-laws of the Foundation. SECTION 5. Removal of Directors. Any elected director may be removed for cause by a majority vote of the members of the Board of Directors, notice of such contemplated action having been given at a previous meeting. Failure of any director to attend three consecutive meetings of the Board of Directors shall be deemed a tender of resignation unless satisfactory explanation shall have been accepted by majority vote of the Board of Directors. T h e resignation of a director for any cause may be accepted by majority vote of the Board of Directors. SECTION 6. Vacancies. In the event of the death, disability, resignation, or removal of a director, his successor shall be promptly elected by the Executive Committee of the Alumni Association, and such director shall serve out the unexpired term. SECTION 7. Meetings of Board of Directors. There shall be one regular meeting of the Board of Directors annually at the University, at Commencement time. Special meetings may be called by the president at his discretion, and must be called by him on the written request of three or more members of the Board of Directors. Special meetings shall be held at any reasonable time determined by the president, but not later than two weeks after such request for a meeting has been received by him or within such time as is necessary for him to receive approval of the date of meeting from the directors. Special meetings may be held at any place selected by the president. T h e secretary shall forward notices to every director not later than a week prior to the date of any meeting, specifying so far as practicable the subject or subjects to be considered at such special meeting, but subjects not specified may be considered. SECTION 8. Quorum. Except as otherwise provided by the constitution or by-laws, all actions of the Board of Directors shall be determined by majority vote. A majority vote is defined as a majority of the quorum; seven members of
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