Section 1. Notice: These By-Laws may be amended at any time by a vote of the majority of the Board of Directors present at any meeting at which such amendment is proposed. However, no such amendment shall be voted upon unless all members of the Board of Directors shall have at least fourteen (14) business days’ notice of such proposed amendment (including a complete text of any proposed amendment); provided further, that in the announcement of the annual meeting of the members all amendments to these By-Laws made in the preceding year shall be presented in summary form to the membership, and shall be subject to ratification by a majority vote of the members at such annual meeting . In the event any such amendment shall be rejected, any action taken pursuant to that amendment shall nonetheless be valid and binding on the corporation.
Section 2. Waiver: The notice required by Section 1 of this Article can be waived by unanimous vote of those members present and voting at said annual meeting.
Section 3. Proxies: No Proxies shall be allowed.