Election of Governors. The manner of election of Governors shall be by affirmative vote of a Plurality in Interest of the Members, so that the nominees receiving the greatest number of votes relative to all other nominees are elected as Governors. Governors shall be divided into three groups, Class One, Class Two or Class Three, with such classification to serve as the basis for staggering the terms among the Governors. At each annual meeting of the Members approximately one third of the Governors shall be elected by the Members for terms of three (3) years and shall serve until a successor is elected and qualified, or until the earlier death, resignation, removal or disqualification of any such Governor.
Appears in 5 contracts
Samples: Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC)
