Common use of Meeting of Directors Clause in Contracts

Meeting of Directors. The Directors shall meet annually in December of each year for the purpose of electing officers for the following calendar year. All meetings of the Directors shall be held at such place or places, within the County of Los Angeles, and at such hours as may be established by resolution of the Directors. Regular or periodic meetings may be held at such time or times as may be established by resolution of the Directors. Special meetings at other than such established times may be held at such other time or times. A special meeting may be called at any time by the chairman or secretary upon five (5) days' written notice to the Directors and may be held at any time without such notice if all Directors consent thereto in writing, which consent may be given either before, at, or after the time of such meeting. At least five days' written notice to such Directors shall be given by the secretary of each annual, regular, or special meeting of Directors, which notice shall specify the hour and place of such meeting and shall state the nature of any business which is to be considered at such meeting. No business other than that stated in the notice shall be acted upon by the Directors at any meeting, whether annual, regular, or special.