The Board of Directors in 2003 December decided on changing one section
of the MFP by-laws to bring those by-laws in line with the effective
day-to-day functioning of the Board. All of the changes have been made
to section 3-1 Board of Directors, and were made so that the
Board could function in a timely and effective manner.
As many of you know, the Board has 6 members, yet the by-laws had
previously stated that the Board may have ``not more than five
(5) members.'' This has been changed so that the Board may have
up to seven members. The minimum capital outlay that would require
notification of the membership has been increased from $1000 to $2000.
The time for the membership to comment on substantive actions proposed
by the Board has been changed from thirty days to ten days. The final
change was to remove one sentence, thus allowing the Board to proceed
with an action pending membership approval.
Our original By-Laws are available in HTML
and MS Word formats. As summarized above,
the proposed updated By-Laws are here in HTML
and here in MS Word.
Current MFP Members, please let us know if you
have any concerns with these changes.