Number, Qualification and Tenure. The number of Managers constituting the Company Board shall be not less than one and not more than seven. Within these limits, the number of Managers constituting the Company Board shall be determined from time to time by the Member. The initial number of Managers constituting the Company Board shall be two. The members of the Company Board shall be elected by the Member, and each Manager elected shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal in the manner hereinafter provided. Managers need not be Members. Managers must at all times be citizens of the United States by birth, naturalization or as otherwise authorized by law.
Appears in 17 contracts
Samples: Limited Liability Company Agreement (U.S. Shipping Finance Corp.), Limited Liability Company Agreement (U.S. Shipping Finance Corp.), Limited Liability Company Agreement (U.S. Shipping Finance Corp.)
