Common use of MEETING OF MEMBERS Annual Meeting of Members Clause in Contracts

MEETING OF MEMBERS Annual Meeting of Members. The Members shall hold an annual (1) each Industry Sector shall elect the successor(s), if any, for any director(s) from its Industry Sector whose term will expire before the next annual meeting of the Members, provided however, that any Industry Sector may elect a successor director representing such Industry Sector prior to such annual meeting, in accordance with the provisions of this Article 6, in which case the election of such succeeding director(s) shall be reported to the Corporation at such annual meeting; (2) the Members will elect Independent Directors, if any; (3) the president and treasurer shall report on the activities and financial condition of the Corporation; and